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.
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.
EOS can be applied in various sectors, including:
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.