EOS is a blockchain-based, completely decentralized network that allows for the creation, hosting, and execution of commercial-scale decentralized apps. EOS provides all of the essential functionality necessary for enterprises and people to construct these dApps in a manner similar to how traditional web apps are produced. EOS can enable secure access and authentication, data hosting, use monitoring, permissioning, and internet connection amongst dApps. Some have even compared EOS to Google's Play Store or Apple's App Store.

A startup named Block.one created the EOS protocol in 2017. Dan Larimer and Brendan Blumer leads the firm. Larimer is well-known among blockchain developers for creating the first decentralized cryptocurrency exchange, BitShares, as well as the first crypto social media initiative, Steemit. Larimer is presently the chief technical officer of Block.one, where he is the principal architect for the EOS software. The EOS project was born from a yearlong ICO that began on 26th of June 2017. Block.one ended up selling 1 billion tokens, earning the business a whopping 4 billion USD. This token sale was one of the largest ICO events in the cryptocurrency industry's history.

How does it work

EOS is intended to mimic the performance of a real computer, with even the software employing some basic computing ideas. As an example, the EOS blockchain is powered by three categories of resources:

-        Bandwidth is in charge of transmitting information across the network.

-        CPU - the real computing power required to operate a dApp.

-        RAM (Random Access Memory) - holds data on the blockchain that may be accessed instantaneously.

To participate in various procedures, EOS holders can lock (stake) their tokens. Users that own EOS have the capacity to vote and make decisions to change the software's regulations, as well as participate in the blockchain validation process. These coins may also be used to conduct transactions on the EOS platform, which supports up to one million transactions per second.

Why it is unique

EOS is a one-of-a-kind cryptocurrency project because it combines numerous significant features, including:

• Scalability is a major issue for cryptocurrencies, as it is difficult to balance decentralization with scalability. The EOS ecosystem can perform about 1 million transactions per second because to its Delegated Proof of Stake (DPoS) consensus method. Through parallel processing, the EOS project achieves such a high throughput.

• Flexibility - Unlike Ethereum, which may be a target of DAO assaults, EOS has devised a solution to this issue. The platform can suspend the node that is processing such a transaction and resume processing new transactions only when the issue has been fixed.

• Decentralization - The EOS platform is a decentralized operating system.

How many coins are in circulation

Out of the entire token supply of 1,027,411,229, there are now a little more than 950 million EOS tokens in circulation. It should be emphasized that there is no limit to the number of tokens that may be issued, with fresh tokens entering circulation every time a new block is formed. Each year, the total number of EOS in circulation might be raised by 5%.