All about EOS.IO coin - Daniel Larimer/DPoS

EOS.IO is a third-generation cryptocurrency that uses a method called DPoS. The monetary unit of EOS is EOS. Dan Larimer developed it based on Ethereum in 2017 and opened his own main net in June 2018. It was developed using a variety of programming languages such as WebAssemblies, Rust, and C++.

General outline

EOS is called the "Ethereum Killer." EOS has emerged as an alternative to solving Ethereum's slow handling speed and high fees. EOS aims to create a universal blockchain operating system (OS) by providing a platform to run a distributed application, the DApp. In the second CCID Global Public Block Chain Assessment Index released by China's CCID BLOCK CHA in 2018, EOS was ranked number one in the technology sector with 1,651.5 points. Currently, EOS is an encryption money that ranks fifth in market value (approximately 5 trillion won as of August 2018)

Characteristics

Support for millions of users
More than 1,000 small-scale apps are currently operating on Ethereum platforms, and the number of apps is increasing. This is why it is considered as the next block chain after Bitcoin, but its transmission speed is slower than in the past. However, competing with companies like eBay, Uber, AirBnB and Facebook requires block technology that can process tens of millions of users every day. To solve this problem, EOS processes millions of transactions per second by introducing an agreed algorithm called DPoS (Delegated Proof of Stake). Since DPoS only participates in the agreement process by 21 elected representative nodes, not by reaching agreements from existing networks, transaction processing can only be accelerated. Recently, a total of 180 candidates from 28 countries held a vote to select block producer (BP) to implement this consensus algorithm. Twenty-one elected BP creates a block that receives the EOS coin as compensation. It is called a "token democracy" as it allows its owners to participate in voting to elect BP themselves.

Free Use

Ethereum charges a fee of gas whenever a transaction occurs on an application, whereas EOS does not have a user transaction fee. In other words, EOS was designed to solve the expensive fees of existing platforms so that users could use the transaction freely, while in Ethereum, nodes would receive a fee of gas in exchange for the transaction to block it.

Easy upgrade and bug recovery

Companies deploying blockchain-based applications need the flexibility to enhance applications with new features. This requires the platform to support software and smart contract upgrades. All software is affected by bug even the strictest formal verification. The platform must be robust enough to address the inevitable bug. When "unbreakable applications" operate in an unpredictable way, EOS.Block chains using IO software allow block producers (BPs) to replace account codes without having to hard-poke the entire block chain. As with the entire account freezing process, replacing this code requires 15/21 votes of the elected block producer.

Low Latency

Good user experience requires reliable feedback and a short delay of just a few seconds. Long delays cause users to feel confused and reduce their competitive edge by comparing them to alternatives other than traditional blockchains. Thus, the platform should make transaction latency as short as possible. EOS minimize the latency of transactions by producing blocks in seconds and greatly improve the user's experience with the applications built on them.

Continuous performance

Some applications cannot be implemented with parallel algorithms due to sequential dependent steps. Applications such as exchanges require enough sequential performance to process large amounts of information. EOS are built to support fast sequential performance that meets the requirements of high-performance applications.

Inter-blockchain communication

EOS are designed to facilitate interblock-chain communication. This is achieved by making it easier to produce a proof of action and proof of action sequence. Combined with an application architecture designed around activity delivery, this proof can provide developers with a high level of abstraction by blocking details of inter-blockchain communication and demonstration validity.

Transaction

EOS is a blockchain project that was first announced by Block.one, a British company based in the Caribbean, at the Consensus 2017 (Consensus 2017) event on May 22, 2017. The ICO process is quite unique; in general, most co-workers set targets over a specific period of time and assign coins to those targets. However, EOS allowed anyone to participate in ICO by allocating 1 billion tokens over a year. At that time, Blockone was officially launched for about a year from 26 June 2017 to 1 June 2018.

EOS-based DApp

Based on EOS, a variety of apps, or distributed applications, are emerging.

Everipedia

Everipedia is the first EOS-based DApp. Everipedia is a next-generation encyclopedia created for today's era and a decentralized Wikipedia offering economic rewards to contributors similar to Schneit. It is already the largest English-language dictionary in the world, with over 6 million articles in it. Evrypidia has no advertising, and creative commons licenses allow anyone to use it freely.

Chains

Chains provide excellent platform experience and DApp listing on the premise of protecting members' assets and strictly comply with the laws of each country or region of the world and provide transparent and open Krypton Asset Trading Services to members around the world. The headquarters of the chain were established in the Cayman Islands, and the management team is in Hong Kong.

Dicentwitter

Decentwitter is the world's first decentralized Twitter built on EOS. Can be used by logging in as a scanner.

Scatter

Scatter is an EOS-based identity block chain that interacts with web applications that communicate with EOS and Ethereum blockchains, signing transactions, exposing personal keys and unnecessary information.

eosDAC

The vision of the eosDAC is that everyone should make the eos block. To realize this vision, eosDAC is a distributed autonomous community that develops around the world focused on building blocks for the EOS community. By doing so, eosDAC creates smart contracts with the tools needed to perform the function. Share this information with the eos community and support other DACs to succeed in the EOS blockchain.

Insights Network

Insights Network is an eos-based data transaction platform. Combining blockchain technology, smart contracts, and secure multidisciplinary calculations, Insights networks help individuals securely own, manage and monetize data.

Wizards

Wizards are eos-based games created by the Letitplay.io team. Each Wizard token can pick random attributes and looks and compete with each other's Wizard. A further tournament is also scheduled and if you win the tournament, you will be able to win an eos prize.

Carmel

Carmel is an eos-based educational blockchain, a distributed open-source technology education platform that helps software developers enhance their skills and track their growth through the challenges of outstanding colleagues. Carmel consists of a dispersed community of teachers and students who do not rely entirely on the authority of the central third party. Along with Carmel, developers are responsible for their own learning processes and decide what is best for the whole community.

Iryo

Iryo is an eos-based medical information block chain that aims to redefine the global healthcare by creating the value of medical data for the medical industry economy. IHS generates interoperable medical data worldwide in an open EHR format that allows patients to take medical records. In the process, patients are encouraged to use their medical data to conduct cutting-edge research through token compensation.

Plactal

As Korea's first eos DApp, PLACTAL provides gamers with ownership of game data and the right to use data by tokenizing game data of 2 billion mobile gamers worldwide. It is also an ecosystem business model that shares this revenue with gamers who provide data as it is an advertising revenue model based on proven data. Gamers can receive a PLT if they update their game records on a blockchain resume. It is also called Mithril.