EOS is a software platform to build Decentralized applications at scale. EOS software is built by a Cayman Islands based company block.one and is backed by big names in the blockchain world like Blockchain capital, Bitfinex, Yunbi, Fenbushi capital,Hyper chain capital
Most blockchain platforms including the leader ethereum currently face a scaling bottleneck Where in one viral app can congest the network and bring it to its knees. As the platforms become bigger the scalability issues will become acute. So there is a need for a decentralized blockchain platform which scalable and large number of DAPPs can be efficiently run on it.
EOS is trying to solve the problem by proposing a new architecture which will enable easy vertical and horizontal scaling of decentralized applications. The new architecture proposes operating system like construct to upon which applications can be built. EOS software wants to address following key problems for distributed applications
1. Ability to server millions of customers
2. Free usage foe basis features
3. Low latency
4. Parallel processing for use cases where required and at the same time managing sequential use cases
1. Consensus Algorithm DPOS ( Delegated proof of stake) developed by Dan Larimer. As per this algorithm. Token holders on a blockchain using EOS software can select block producers through a voting system and anyone may choose to participate in block production and will be given an opportunity to produce blocks proportional to the total votes they have received relative to all other producers.
2. EOS is not a blockchain but a software on which anyone can build a blockchain. Both private and public blockchains can be built
3. EOS tokens are not the tokens of the blockchain and hence will not be usable on any new blockchains which get subsequently built on EOS software
Token sale and details
1. Brendan Blumer : CEO.
Brendan Blumer has been an old timer in blockchain Before joining Block.one starting EOS he has built businesses including trading of virtual currencies in MMORPGs in the US, okay.com in Hong Kong etc
2. Daniel Larimer : CTO.
Daniel is the start innovatar and inventor on the team. He previously built Bitshares and was an early contributor in Steemit. Dan is the inventor of the widely adopted “Proof of Stake” and “Decentralized Autonomous Corporations” concepts
3. Brock Pierce : Partner.
Brock Pierec is a VC and entrepreneur He currently heads Bitcoin foundatio and is co-f0under of VC firm Blockchain capital which invests in blockchain businesses
4. Ian Grigg : Partner
He is a veteran financial cryptographer and the inventor of the Ricardian Contract and the co-inventor of Triple-Entry Accounting.