Everything you should know about EOS, on its Blockchain Launch Today!
WHAT IS EOS?
EOS is a blockchain-based, decentralized operating system, designed to support commercial-scale decentralized applications by providing all of the necessary core functionality, enabling businesses to build blockchain applications in a way similar to web-based applications.
EOS’s asynchronous communication and parallel processing provide scalability, while its ownership model eliminates transaction fees. These features make EOS a serious competitor of Ethereum.
EOS uses delegated-proof-of-stake and introduces the ability to fix bugs and rollback changes with supermajority consensus.
EOS.IO is software that allows businesses to build blockchain applications that resemble existing web-based applications, using an architecture similar to website frameworks.
Technology Behind EOS...
EOS.IO offers flexibility in the development and maintenance of dApps through various features. Its ownership structure promotes free usage by the user and eliminates transaction charges as developers are allowed to utilize resources in proportion to their stake instead of the standard pay-per-transaction model. This also makes it easier for app developers to predict hosting costs and allows them to create effective monetization strategies.
EOS.IO uses delegated proof-of-stake and a role-based permissions concept, which allows flexibility to make instant high-level decisions, like rollback, freezing and bug fixing of broken apps, through a majority accord among designated stakeholders.
It comes with key usability features – web toolkit for interface development, self-describing interfaces, self-describing database schemas, and declarative permission scheme – that make the developer’s job easy for creating and maintaining the apps.
What Problem does EOS Solve?
The EOS vision is to build a blockchain dapp platform that can securely and smoothly scale to thousands of transactions per second, all while providing an accessible experience to app developers, entrepreneurs, and users. They aim to provide a complete operating system for decentralized applications focused on the web by providing services like user authentication, cloud storage, and server hosting.