What is EOS?

EOS offers a robust infrastructure for developers to build and deploy dApps with high performance and scalability. Its Delegated Proof-of-Stake (DPoS) consensus mechanism allows for faster transaction processing and lower fees, making it suitable for commercial-scale applications. The platform provides tools and services that facilitate user authentication, data storage, and communication between dApps and the internet, streamlining the development process. Additionally, EOS token holders can participate in network governance by voting for block producers and other protocol upgrades, ensuring a decentralized and community-driven ecosystem.

How does EOS work?

EOS operates on a Delegated Proof-of-Stake (DPoS) consensus algorithm, where token holders elect a set number of block producers responsible for validating transactions and maintaining the blockchain. This structure enhances scalability and reduces latency compared to traditional Proof-of-Work systems. The platform utilizes a unique resource management model, dividing resources into CPU, NET, and RAM, which developers must stake EOS tokens to access. This approach ensures that applications have the necessary bandwidth and computational power to operate efficiently. Smart contracts on EOS are executed using WebAssembly (WASM), allowing developers to write code in familiar programming languages like C++ and Rust.

EOS milestones

• Mainnet Launch: EOSIO software was released in 2018, and the EOS mainnet went live, enabling the deployment of dApps on the platform.

• Record-Breaking ICO: Block.one conducted a year-long Initial Coin Offering (ICO), raising over $4 billion to support EOS development.

• EOSIO 2.0 Release: Introduced significant improvements in 2020, including a new WebAssembly engine for faster smart contract execution and enhanced security features.

• Formation of EOS Network Foundation: Established in 2021 to coordinate community efforts, foster ecosystem growth, and advocate for the platform's development.

• Integration of EOS EVM: Launched the Ethereum Virtual Machine (EVM) on EOS in 2023, enabling seamless deployment of Ethereum-compatible smart contracts and enhancing interoperability between the two networks.

EOS continues to evolve, focusing on scalability, developer experience, and fostering a vibrant ecosystem of decentralized applications.

Buy EOS (EOS) on BITmarkets.