$ 3.64 (-0.47%)
EOS (EOS) - Historical Price Chart
About EOSMake a Suggestion
EOS is a blockchain technology basically like Ethereum which has been brought to life by Dan Larrimer. He is also the creator of Steem and BitShares. It has the ability to do things in parallel, faster transcation speeds and more scalability. EOS sets rules on which everyone agrees upon, these are linked to every block mined. The current model allows for a 5% inflation, this will be used to develop the network further. EOS is similar to a decentralised operating system, in practice this means that developers can build applications on EOS. Owning EOS coins is a claim on server resources. A developer needs to have EOS coins to use the EOS blockchain. Developers will not spend the coins to use the server resources, s/he just need to prove they hold them.
This operating system will be hosted on servers (data centres) which in return will also be block producers. Block rewards in EOS are the incentive for these servers to host EOS applications. The applications running on this decentralised OS will be able to communicate with each other, there will also be measures to “firewall” applications. Applciations use very common functions such as user/password, user interfaces, backend (database) management. This means that applications can share frameworks or libraries which make development faster, more secure and less technical. For example, applications will have their own secure database and file space on EOS.
EOS will allow developers to create blockchain applications with which end users will easily interact with. Probably most users would not even know that they will interact with one when using EOS as this will be completely transparent to the users.