Summary

EOS is a decentralized blockchain operating system designed to support enterprise level applications by providing all of the necessary core functionality (including databases, accounts with permissions, scheduling, authentication, and handling communication between the application and the internet). This allowing developers to focus on their own particular business logic.

Team

Created by Dan Larrimer (Creator of Bitshares and Steemit) in cohorts with Block.one.

How EOS works

EOS functions like a decentralized operating system. The EOS blockchain provides the core functionality, and scalability necessary for large, commercial type decentralized applications to be brought to market. Developers are able to build blockchain applications the same way web-based applications that facilitate transactions and exchange work. By owning EOS coins, it’s like a stake against overall server resources, however, development does not require payment in the form of tokens, just proof of ownership.

Key Highlights

• Free usage: Developers can use the free flexibility to offer users the service.
• Low Latency: Giving users a good experience and reliable feedback with a delay of no more than a few seconds.
• Self Sufficiency and Evolution: The current model allows for a 5% inflation, this will be used to develop the network further decentralized operating system:
• Built on a delegated proof of stake (DPoS) that limits block producers to 21, where each producer only mines one block at a time