EOS-My explanation/view

So all of you must oh heard about EOS, right? If not-EOS is kinda like a faster Ethereum but it is also more than that. But I shall make it also sense to you. By combining all diff article on EOS I shall make my understanding of how EOS works. Saving you the trouble of looking up what EOS is, but still research you own time. I am not a financial advisor :) But this might encourage you to invest in Eos.

'So to understand EOS in simpler terms - it kinda like steem but with smart contracts capability.

EOS uses the algorithm DPOS- Delegated Proof Of Stake.
Delegated Proof Of Stake is an alt to POW. I however believe DPOS is not as decentralized as POW.

BItcoin is built to be sovereign state resistant with a bunch of checks and balances on everyone. This makes Bitcoin doing upgrades harder with more consensus needed. However, EOS is a smart contract platform-it does not need to be pure sovereign state resistant. EOS just need to be a faster non-shutting down platform that is open for everyone to use.

DPOS in a way solves the scalability issue but the fact they are limiting the amounts on nodes.
In cryptocurrency, the mores nodes usually means more decentralization. More nodes however create more latency. Each nodes much wait/transfer data to each other peer.
In DPOS-which Steem,Bitshares,Golos,Whaleshares,Peerplays and *EOS use/plan on using.

Think of DPOS as this:
Token holders vote on which nodes to do the work. The elected nodes create the blocks aka confirm the transaction. More tokens they hold the more power they have in voting. These nodes that get elected are usually called witness(golos calls them delegates).

Due to the fact in DPOS the block producers can only be elected-the number of nodes is low.
This causes less latency and as result of elected nodes-the block time can be much faster. At times at 3 seconds per block or even lower I read it can go to 0.5 seconds blocks. Eth has 20-30 seconds. RSK has 10-20 seconds.

DPOS also prevents accidental hard fork which honestly I gloss over not that much a big deal to me.

For here why:

1. in DPOS the witness can be unvoted and 2. each block created in DPOS needs other witness to approve the block.

Witness then get paid in EOS as a thank you for their service.

The scalability of DPOS?
Well the main scaling that DPOS leads to is basically big blocks. Normally big blocks I would say are bad-but if the nodes get paid for it? The nodes are controlled by the "shareholdes"?
EOS bc of their small amount of nodes and the nodes also getting paid leads them to use big blocks as a good scaling solution. They can afford it.
In freenode ecosystem aka Bitcoin-nodes can't afford it. That more nodes lead to more decentralization. Remember Bitcoin is built to be sovereign State resistant. This is why off chain scaling solution that do not burden nodes are popular in the bitcoin community.
EOS on the other hand faces this issue:

THE PROBLEM IS THAT IF YOU HAVE 100 NODES THE SYSTEM IS MUCH MORE CENTRALIZED. YOU CAN DENIAL OF SERVICE THEM. BECAUSE YOU HAVE TO VOTE FOR THEM, THE NODES THAT WIN ARE GOING TO BE THE NODES THAT EVERYONE KNOWS. SO IT IS MUCH EASIER TO ATTACK THE PEOPLE RUNNING THE NODES. ISPS CAN SHUT THEM DOWN, COMPANIES CAN SHUT THEM DOWN, GOVERNMENTS CAN SHUT IT DOWN FAIRLY EASILY. THAT PARTICULAR PATH TO SCALABILITY DOES COME AT A FAIRLY HIGH COST AND THAT COST IS THAT IF YOU TRY TO ACHIEVE SCALABILITY BY HAVING LARGER NODES THEN THE NUMBER OF NODES BECOMES MUCH SMALLER IS THAT THAT MAKES THE SYSTEM MORE CENTRALIZED.
-Vitalik Buterin

I also read Dan counter to this quote-he however goes on Eth centralization issue instead. Unless there's a new counter which I do not know about. But I still love Eos.

EOS further can scale it chain by the fact they have horizontal scaling.
EOS adopts Horizontal Scaling to allow for thousands of transactions per second. When a network demand increases, there are two main options available to meet the new demand.

Vertical Scaling: Increase the processing power of the server
Horizontal Scaling: Link the server to other servers

Using horizontal scaling means that there is higher number of transactions that can be processed per second, which is something increasingly needed by blockchains

Transaction speed:
Believe it or not, EOS has no transaction fee. How can this be done? Well EOS remember is built to be an application platform. EOS does not need transaction fees to work.
Not making much sense. Let me put it in a different perspective.
Do users want to pay just to use an app? Most don't.
In Ethereum most Dapps require both the dev and users to pay. Dev for the initial creation and the users of Dapps just to use it.
In EOS, the EOS tokens= the amount of transaction rights you have.
So, in essence, if you own 1/1000th of the stake in EOS then you will have ownership of 1/1000th of the total computational power and resources(aka Transaction count) in EOS.
Think of this like a website hosting on AWS. The sites justs pays to host and makes up the costs other ways. Eos's dapps will be similar to this.

The Dev of Dapps also doesn't have to have EOS just use its platform, they can rent it out. Now this is the main reason many investors are buying EOS. Making it even more like a decentralized AWS.
In steem you know how you can delegate you Steempower to bots for passive income without directly giving them steem.? In EOS I expect it to work similar to this. You delegate you EOS to Dapps and get more Eos. The investors are renting their coins to Dapps.

There are many others benefits and cons to EOS. But overall, EOS has huge potential. It does not have a working product yet is in the top 5 of coins. Oh how times in the crypto market changed. :(
I am not spreading FUD about EOS- I hold alot of EOS..... :)

You might of also wonder what in the world RSK is? Well it nothing to do with Ethereum and EOS. It is Bitcoin's smart contract platform which has huge potential was well. I suspect RSK will be used as the platform for ultimate resistant.
You can read about RSK here:
What is RSK:
https://steemit.com/bitcoin/@sames/bitcoin-s-ethereum-killer-rsk-co
An RSK extended scaling plan:
https://steemit.com/bitcoin/@sames/how-rsk-is-going-to-use-sharding

*At this time EOS mainnet was not released yet
coming in June 1st this week!