EOS stands for Electro-Optical System and is a popular open source blockchain based platform which can be used to host, develop and manage dApps (Decentralised Apps). The cryptocurrency that derives the network is called EOS. It is made with the aim to make blockchain technology more accessible and easier to use for developers around the world.
Why EOS?
1. Fast and efficient: The EOS blockchain platform boasts super high transaction speeds at low cost.
2. Highly Configurable: EOS allows a higher degree of configurability, very useful for the creation and management of programmable architectures.
3. Secure: The EOS blockchain is designed to accommodate compliance and regulatory frameworks with a wide range of permissions
4. Developer-focused: The blockchain is built such that technically inexperienced users could also scale projects on EOSIO with help from experts.
Team that created EOS
In June 2018, the EOS platform was launched by the Blockchain-based software company Block.One by Dan Larimer (who is also the founder and creator of established platforms including Bitshares and Steem) after the initial coin offering raised $4.1billion in cryptocurrency.
The EOS tokens can be used as a payment system on the network. This platform was largely hailed as the ‘Ethereum Killer’ because its initial launch seemed like EOS would takeover Ethereum and become the most efficient platform for dApp development.
Understanding EOS
EOS is designed in a way that it allows businesses and individuals to create blockchain-oriented applications as easily as web-based applications. It provides hassle-free app development with secure authentication, data-hosting and communication between dApps and the internet.
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