Buy EOS

What is EOS?

EOS is a blockchain-based, decentralised platform designed for the development, hosting, and execution of commercial-scale decentralised applications (DApps). It offers features such as decentralised application development, secure access and authentication, data hosting, and communication capabilities.

How does EOS work?

EOS utilises a Delegated Proof of Stake (DPoS) consensus mechanism, a model that enables fast transaction speeds and improved scalability. The platform supports smart contracts, which developers can use to create and manage DApps. Users stake EOS tokens to access resources such as bandwidth, computation, and storage necessary for running these applications.

What are the potential use cases for EOS?

EOS can be applied in various sectors, including:

• Development of decentralised applications (DApps) across multiple industries.
• Creation of clean energy marketplaces, enabling efficient energy distribution and access.
• Establishment of decentralised autonomous communities (DACs) for governance and operations.
• Financial inclusion initiatives, such as virtual cards enhancing food accessibility in low-income areas.

What is the history of EOS?

EOS was created by Block.one, a company co-founded by Brendan Blumer and Dan Larimer. Larimer is recognised for his work on projects like Bitshares and Steemit and for inventing the DPoS consensus mechanism. EOS raised $4.1 billion in a year-long Initial Coin Offering (ICO) that ended in June 2018. Since its launch, EOS has faced regulatory challenges, including a settlement with the SEC, and has undergone technological updates like the Antelope Spring 1.0, which improved its transaction finality and network performance.