What exactly is EOS? Understanding the EOS Token and Blockchain

There are three primary kinds of technologies in which to invest in the bitcoin sector.

The first is broadly synonymous with the primary use-case of digital currency, which is to solve for money exchanges and stores of value; the second is to do with decentralized applications (dApps) built on the blockchain; and the third is to do with protocol level technologies like Ethereum, NEO, ICON, and EOS. Because they provide the most use to developers creating the eco-system, these apps are produced and linked to the industry's infrastructural and architectural innovation.

EOS vs. Ethereum

The main distinction between EOS and other protocols like Ethereum is scalability. Ethereum can currently only perform about 15 transactions per second. However, Ethereum's speed would need to be significantly increased in order to support more extensive social apps like Facebook (which handles 52,000 transactions per second). While smart contracts have been largely associated with financial applications, even a network like Visa performs over 20,000 transactions per second, about 1,300 times Ethereum's present capabilities.

Both EOS and Ethereum are blockchain platforms for the development of decentralized applications (dapps) that include services such as user authentication, cloud storage, and server hosting. EOSIO is a compliant blockchain technology published by Block.one that supports horizontal scalability of decentralized apps, allowing developers to rapidly design high-performance distributed applications. Accounts, authentication, databases, and application scheduling over multiple CPU cores and clusters are all provided by the EOSIO program. This allows for horizontal scalability, replaces user fees with an ownership model, and drives simple deployment of decentralized applications. The EOSIO GitHub repository is available here.

EOS's key features include:

For the sake of brevity, we've left out a lot of the granular features and details in the Technical Whitepaper. Although, among EOS' primary features are:

Parallel Processing: In a word, parallel processing helps deliver continuous scalability and a firm basis for an application's high performance. Existing single-threaded capabilities force all applications to share the capacity and performance of a single single-threaded blockchain, imposing severe scaling limits and even causing platform-wide unavailability due to network congestion.

EOS

Customized Blockchain Solutions is a decentralized operating system that helps developers with databases, permissions, scheduling, authentication, and communication between inter-applications. These characteristics work together to greatly simplify the process of developing and delivering decentralized applications. It also increases the number of developers who can create their own decentralized applications.

Self-Sufficiency and Evolution

An EOS blockchain is a self-funding, distributed network with all governance taking place on the chain, rather than relying on a single foundation, organization, or individual.

The community distributes the slow and continual creation of new coins (max 5% annually) through approved smart contracts to fund network operation and growth. EOS is also one of the most eclectic and diverse blockchain communities in the world. It has been created through the support of the Delegated Proof of Stake (DPOS) ecosystem that has launched some of the largest smart firms in the blockchain ecosystem today which are BitShares and Steem.

Token auction

The token sale lasted a year and a half, beginning on June 26, 2017, with 350 times of distribution. The total number of EOS tokens designated for that period were distributed to contributors based on the amount of ETH they contributed divided by the total contribution amount at the end of each specific period.

During this time, EOS tokens were published on a number of well-known exchanges, allowing the market to determine the price and providing investors with regular updates on the EOS team's growth and progress before investing. As a result, one of the most well-funded token sales ever took place. However, it's worth noting that the EOS token does not execute a specific function, instead allowing developers to establish new dApps and generate their equivalent tokens using EOS tokens.

The plan, the team, and the community

Block One

According to their website Block.one. "Block.one is a software publisher focusing on high-performance blockchain technologies," according to the website. EOSIO is their first project, an open-source blockchain protocol for safe data transport and high-performance decentralized apps. After its release, it became known as the first performant blockchain platform for developers and programmers all around the world.

CEO Brendan Blumer and CTO Daniel Larimer founded Block.one, which is presently managed by them. Daniel Larimer is well recognized for inventing and popularizing the groundbreaking "Delegated Proof of Stake (DPOS)" consensus technique. Delegated Proof of Stake now drives the EOSIO program, which was launched in June 2018. It processes a major amount of blockchain transactions globally.

EOS History

EOS is built by the core Block.one team, led by CEO Brendan Blumer and CTO Daniel Larimer, and brought together by a shared desire for decentralization. Block.one is on a quest to bridge the gap between blockchain technology's idealistic romanticism and the practical applications that distributed ledger technology can bring. The Block.one team is trying to create a more secure, free, and connected world by developing platforms and tools that enable blockchain-based decentralized enterprises, applications, and collectives.

EOS Dawn 1.0 was published on September 14, 2017, followed by Dawn 2.0 on December 4, 2017, which included resource tracking and inter-blockchain communication, and Dawn 3.0 (the project's formal debut) in April 2018.

EOS is available from the following retailers:

The simplest way to buy EOS is to use USDT, BTC, or ETH to buy it on major exchanges like Huobi Pro, Bitfinex, Binance, or OKEx.

Conclusion:

Although the project has been criticized for its poor execution, it is fair to say that with a $4 billion budget and a stellar team with proven experience in distributed ledger technology, EOSIO's Community and the key team have more than enough vision to make this one of the few perennial protocols of our time.

As EOS is trending and you can utilize this technology to secure your business and create a platform based on EOS, and Hire EOS Blockchain Developer.