What Is EOS?

EOS is a cryptocurrency designed to enable fast, cheap, and scalable smart contracts. This is done through asynchronous communication of its various components. In EOS’s architecture, the role of a single blockchain is split across many different machines.

In EOS, both computing power and bandwidth scale proportionally with the amount of tokens staked by network participants. This is called horizontal scalability.

Each block producer in EOS contributes computational power to the network instead of competing for rewards. If the computing power dedicated to running smart contracts on the blockchain exceeds demand, new block producers can be voted in by users to increase capacity.

EOS uses asynchronous communication with its various components, which allows it to work around speed limitations that would otherwise prevent fast transaction times.

Bandwidth within EOS is unlimited and free for all users, allowing developers to build web-based applications without having to worry about bandwidth costs or slow download speeds.

what is EOS

EOS is an open source software intended for use on real world commercial decentralized autonomous organizations (DAOs). It will not become a platform for cryptocurrency speculation.

EOS.IO is software that allows businesses to build blockchain applications that resemble existing web-based applications, using an architecture similar to website frameworks like Ruby on Rails and LAMP. This enables developers to easily build scalable blockchain applications for use in the real world without having to understand underlying architectural technologies such as distributed hash tables (DHTs), smart contracts, and database replication.

The network infrastructure of EOS is based off of a Delegated Proof-of-Stake (DPoS) consensus algorithm. DPoS was originally proposed by Daniel Larimer in 2013 when he created BitShares, which was also described as employing horizontal scalability, asynchronous communication, and free transactions. The main difference between EOS’s DPoS and BitShares’ DPoS is that the role of block producer in EOS only requires resources when needed, while in BitShares it is required to always be online.

EOS allows for accounts with various permissions. Complex cryptographic permissions can also be applied through the use of web-based applications through its web toolkit, [tool name].

Token holders can vote for up to 30 block producers and elect 21 block producers at any given time (a number which changes as blocks are produced). The average length of a round is one second and full account recovery takes 3 days. Voting will continue until the minimum quorum established by 15% of voters has been achieved, which prevents anyone from controlling 100% of EOS tokens.

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