EOS ecosystem

It is composed of two major elements :

1. EOS.IO Software: It can be compared to the Operating System of a computer. This software manages the EOS blockchain network and is responsible for scaling DApps.

2. EOS token: This is the official cryptocurrency of the EOS network. Developers do not necessarily have to spend the EOS coins to use network resources, if they own them they still can use the resources to build and manage DApps. They can also rent their bandwidth to other participants if needed.

EOS Governance

EOS governance relies on delegated Proof of Stake, its is a type of Proof of Stake where the token holders elect the validators on the network instead of choosing them randomly. Also, the network is managed by 21 block producers who stake their investment in the network infrastructure, development, etc.

How EOS Is Different

EOS gained a lot of traction because of its promises of being bigger, better and faster than Ethereum. While talking about speed Ethereum can handle 15 transactions a second, but EOS is aiming for millions of transactions per second!

This is a lucrative promise that can be a game-changer when implemented because the increasing size of the DApps ecosystem against the limited resources available today is a huge issue. EOS.IO attempts to solve these problems by offering more scalability and usability through its unique architecture.

Characteristics of EOS.IO

The parallel execution and asynchronous communication methodology across the network enables EOS.IO to support thousands of commercial-scale DApps without experiencing performance bottlenecks.

The efficiency is further boosted by separate modules that are involved in the working of DApps.For instance, the authentication process is separate from the execution process.

With EOS, you can develop interfaces directly from the web-based toolkit, build self-describing interfaces, build self-describing database schemas, and define declarative permissions.