What is EOS
Similar to the platform Ethereum, EOS is a blockchain technology used for the development of decentralized applications or daaps. The focus is to make developing dapps easier through a similar set of like-operating systems.
How Does EOS Work?
The computing support of platforms like Ehtereum and Bitcoin security along with other features and promises of a variety of technologies are all joined together on EOS. It’s a large, easy-to-use platform geared towards the beginner. Server hosting, cloud storage, and authentication of users are all services utilized through the EOS platform.
The idea behind EOS is to have a platform that can handle and process thousands of independent transactions per second. It is also intended to be easy to use and access for users, developers, and entrepreneurs.
The full-featured authentication system allows for people to get in and work on the network. Accounts with various levels of permission and secured data for each user are all features of the program. With recent updates, users can store data off of the blockchain on a local machine and access the shared database between different accounts.
Integrated security offers recovery for any accounts that get stolen in the system. There are several steps required for identification verification in the event an account is compromised, and access must be restored.
Hosting servers and storage on the cloud are included with the EOS platform. That means that developers can deploy and build apps and different web interfaces through cloud storage and hosting. They can also download bandwidth. Ideas can become a reality without the need for additional secured bandwidth and storage.
The network is capable of scaling up to one million different messages or transactions in just one single second. It’s done from a loan machine, and the amount of devices that can be linked implies that in theory, the scaling on these transactions is infinite.
No Charge To Use
Users that want to take advantage of all that EOS has to offer do not have to worry about micropayments being required to complete jobs or send messages. Each app developer gets to decide how to charge their transactions, and they are very low. Each company on the platform is free to decide what they want to do regarding strategy for monetization. They can keep it free, or choose to charge a small fee.
The EOS Teams and Tokens
A company called Block One is behind the development of EOS. The lead developers have extensive experience in the cryptocurrency world, and the rest of the team is right in line with them. Releases of EOS started back in 2017, and since then updates have continued to come out. Spring of 2018 is the official release of the full use of the system. There are plenty of investors and contributors backing up EOS.
EOS tokens are sold differently than any other type of cryptocurrency thus far with 350 different distribution periods. The total number of tokens defined in any one period will be released to contributors based on the total amount of tokens sold divided by individual contributions.