Charts price for EOS (EOS)

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Description of EOS (EOS)

EOS Origin

Release Date: June 26, 2017.

EOS was developed by Block.one, a company located in the Cayman Islands. With Dan Larimer being the projects chief developer. EOS is meant to introduce a new Blockchain architecture which is designed to enable horizontal and vertical scaling of decentralized Blockchain applications. Such decentralized apps can be built directly within the EOS ecosystem.

EOS Functionality

EOS has the potential to scale up to millions of transactions per second. The software behind EOS, and as described in the projects whitepaper allows for user login accounts, databases, authentications, asynchronous connections, and the planning of applications on hundreds of CPU cores and clusters.

Additionally, EOS allows for private Blockchains to be created. The platform runs on a decentralized consensus algorithm (delegated proof of stake). Another interesting aspect of EOS is that it accommodates server hosting and cloud storage. What this means is that software developers can deploy their applications and host them under cloud storage and download bandwidth provided by EOS.

EOS is free to use and does not require users to execute micropayments in order to perform tasks on the projects Blockchain. This is actually great for corporations that look to use EOS, as they themselves can decide whether or not to provide services to clients for free or not.

Another peculiar aspect of EOS is that the systems source code can be upgraded, downgraded, and repaired where necessary by the community around the project. This is due to the governance voting model which allows users to determine, in a democratic way, which direction is best for the EOS ecosystems development