Posted on April 2, 2018
EOS is a software that introduces a blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications (the “EOS.IO Software”). This is achieved through an operating system-like construct upon which applications can be built. The software provides accounts, authentication, databases, asynchronous communication and the scheduling of applications across multiple CPU cores and/or clusters. The resulting technology is a blockchain architecture that has the potential to scale to millions of transactions per second, eliminates user fees and allows for quick and easy deployment of decentralized applications.
One of the major benefits of the EOS.IO software is that the amount of bandwidth available to an application is entirely independent of any token price. If an application owner holds a relevant number of tokens on a blockchain adopting EOS.IO software, then the application can run indefinitely within a fixed state and bandwidth usage. In such case, developers and users are unaffected from any price volatility in the token market and therefore not reliant on a price feed. In other words, a blockchain that adopts the EOS.IO software enables block producers to naturally increase bandwidth, computation, and storage available per token independent of the token’s value.
A blockchain that adopts the EOS.IO software will award new tokens to a block producer every time a block is produced.
– No transaction fees when using dApps built on EOS, which enhances the user experience
– Up to 50,000 transactions per second
– EOS tokens have no rights, uses, purpose, functionalities, features or attributes.
– Holding EOS tokens does not mean you will be able to use the EOS platform or receive any tokens on the EOS platform.
– The “fees” are paid by token holders with the deflation of the value of the token. This discourages people to hold EOS as an investment
EOS is doing a 1 year ICO that will end in June 2018. Their network will not be up until then.
Winter 2017, Spring 2018: Testing & Security Audits
Summer, Fall 2018: Parallel Optimization
Blockchain of EOS uses Delegated Proof of Stake consensus mechanism. Basically, EOS tokenholders vote for the block producers, which mine blocks and decide on major events in the EOS ecosystem.
A blockchain based on the EOS.IO software recognizes that power originates with the token holders who delegate that power to the block producers. The block producers are given limited and checked authority to freeze accounts, update defective applications, and propose hard forking changes to the underlying protocol.
Embedded into the EOS.IO software is the election of block producers. Before any change can be made to the blockchain these block producers must approve it. If the block producers refuse to make changes desired by the token holders, then they can be voted out. If the block producers make changes without permission of the token holders then all other non-producing full-node validators (exchanges, etc) will reject the change.
Has similarities with Steemit and BitShares on the infrastructure level. They all have been created by Dan Larimer and he took what worked in both to create EOS. It also has similarities with Ethereum as a smart contract platform hosting Dapps.
It doesn’t currently have any notable partnerships but it is hinted that they may reveal one on January 13th 2018.
Traded on Bithumb, Binance, Bitfinex and Kraken.
EOS is a blockchain layer.
Reddit: 24 589 subscribers
Jan-10–2018: 9.45 USD
Dec-2017: 2.86 USD
Sept-2017: 1.27 USD
July-2017: 1.03 USD
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This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations