EOS is an operating system based on blockchain to support decentralized applications. It is designed to provide core functionality and let the other businesses to build their own blockchain applications in more simpler and finer way just as developing a web application. EOS is one of the competitors of Ethereum and moves forward with the same pace.
Brendan Blumer - CEO
He is part of blockchain industry since 2014 and now involved in trading of virtual currencies.
Daniel Larimer – CTO
His focus is to innovate new technology from VR to second generation cryptocurrencies. He is the inventor of most famous and widely used concept of “Proof of stake” and “DAC”
The company who is behind the EOS development.
EOS software uses decentralized consensus algorithm “Delegated proof of Stake(DPOS)” which actually meets the suggest performance requirements in blockchain industry. By using DOPS algorithm; users with the token on blockchain application(which is based on EOS.IO software) can select blocks and participate in production and voting.
- List of advantages is quite similar to Ethereum:
- It works with parallel processing which higher the transaction speed and overall process scalability.
- Its evolutionary and have a margin of 5% inflation
- It has a constitution which is agreed by each stakeholder
- The user is not required to pay for every transaction
- Dan Larrimer is known to switch quite often from one technology to other and that is why people don’t believe this project to be long lasting
- A list of competitors is much cheaper and easier then EOS
- Not popular among those who are new to the crypto world unlike Ethereum
EOS has published its whitepaper on GitHub which explains Proof-of-stake concept and detail listing of accounts section with more about permissions and user roles. They have explained the complete architecture of permission evaluation before granting a role to any user. Along with technical side; part of papers describes the governance process over the use of EOS and software.
EOS also has incentives for their holder, its token will be used to unlock the network bandwidth. The more EOS someone holds the more bandwidth is available for him on the network to be used. This incentive is way better than gas on Ethereum or any other network. As gas is meant to be burnt after use but EOS is key to hold when you need specific bandwidth to make a number of transaction on EOS software.
A large number of investors are migrating to TRON which cover up the slight dips. Its fundamental strength is being steady from start till now.
At a very specific point of time, only one authorized person is allowed to produce a block and this production happens every 0.5 seconds. EOS.IO enables to produce these blocks every 0.5 seconds and if no block is created then that time is skipped in the logs.
- Ian Grigg: He is the partner of EOS project and financial cryptographer and over 20 years building cryptographic ledger platforms. He is the inventor of the Ricardian Contract.
- Brock Pierce – Partner: His estimated crypto Net Worth $700 million -$1billion and he is chairman of Bitcoin Foundation.
- Phase 3 – Testing & security audits until spring 2018
- Phase 4 – Parallel optimization Summer / Fall 2018
- Phase 5 – Cluster implementation The Future
In Dapp development industry; EOS is providing more options and aimed to simplify the development process for new users. Even though It has some really exciting features in its roadmap. But people need trust to invest in projects and scalability is key to provide stable services. Blockchain industry is hoping EOS to be a good addition to the crypto world.
How to get crypto