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About EOS
Key Points
- EOS is an open-source blockchain platform prioritizing high performance, flexibility, security, and developer experience.
- EOS is a 3rd generation Layer 1 blockchain with a Delegated Proof of Stake (DPoS) network.
- The EOS Network has 995,528,087 EOS in circulation.
- EOS is secured by delegated-proof-of-stake (DPOS), giving token holders governance power relative to their stake.
- EOS can be bought through various exchanges, including Binance, Coinbase, Kraken, and more.
Founders and History
- EOSIO software was developed by Block.one and archit
About EOS: A Revolutionary Blockchain Ecosystem
Unveiling EOS: A Comprehensive Overview
The EOS Network is an open-source blockchain platform that prioritizes exceptional performance, flexibility, security, and a seamless developer experience. As a pioneering third-generation blockchain platform powered by the EOS virtual machine, EOS boasts an extensible WebAssembly engine, enabling the deterministic execution of near fee-less transactions with unparalleled efficiency.
EOS is the market’s most scalable, divisible, and programmable digital currency, boasting unparalleled flexibility and customization capabilities. As a Delegated Proof of Stake (DPoS) network, EOS empowers stakeholders to exercise authority in selecting node operators, thereby democratizing the decision-making process. Notably, the decentralized nature of token distribution on EOS ensures that power is distributed equitably among all parties involved in the EOS Network, rather than being concentrated in the hands of block miners.
The EOS Network boasts an irresistible appeal, owing to its cutting-edge technology and vibrant community. By providing developers with the capability to build projects that surpass the limitations of other blockchains, it unlocks unprecedented possibilities. Furthermore, the network’s intuitive design, coupled with a plethora of tools and educational resources, facilitates a seamless onboarding experience for users, empowering them to effortlessly navigate the blockchain ecosystem.
The Visionaries Behind EOS: Unveiling the Founding Masters
The EOSIO software, upon which the EOS Network was built, was developed by Block.one, a pioneering company, and masterminded by the visionary architect, Daniel Larimer.
In June 2018, the EOS blockchain was inaugurated by a decentralized collective of block producers (BPs), who successfully bootstrapped the network leveraging a token distribution snapshot from Block.one’s initial coin offering (ICO).
On August 25, 2021, a consensus was reached among EOS block producers to provide funding for the EOS Network Foundation (ENF), a novel initiative spearheaded by Yves La Rose.
The EOS Network Foundation is a not-for-profit organization dedicated to fostering the growth and development of the EOS Network by providing financial and non-financial support. As the nucleus of the EOS ecosystem, the ENF leverages the transformative power of decentralization to drive positive global change and shape a coordinated future for EOS.
Unveiling the Unparalleled Attributes of EOS
The EOS Network is a cutting-edge, third-generation Layer 1 blockchain that boasts low-latency and exceptional performance, empowering developers to bring their most ambitious visions to life. By seamlessly integrating programmable architectures, versatile blockchain infrastructures, and customizable smart contracts, EOS unlocks unparalleled creative freedom. Its distinctive technological stack, coupled with a resilient and dedicated community, sets it apart in the blockchain landscape.
The EOS Network boasts a multitude of thriving communities, each fueled by innovative ideas and visionary leadership. Token holders collaborate closely with developers and other ecosystem leaders to drive growth and progress. The EOS community is deeply rooted in a set of core values, including transparency, openness, honesty, accountability, liberty, respect, and other essential principles that underpin the blockchain ecosystem. Notably, EOS is the pioneering blockchain to establish a community-led foundation, which is complemented by a user-centric support system. In a landmark move, token holders elected a foundation to spearhead network growth, while a group of community members concurrently launched EOS live support, catering to the needs of users on the network.
The Circulating Supply of EOS Coins: A Closer Look
At the time of writing, the EOS network boasts a circulating supply of 995,528,087 EOS tokens.
Upon its inception, the network’s software developer, Block.one, was allocated 100 million EOS tokens, subject to a 10-year vesting schedule. However, in December 2021, the EOS Network reached a consensus to halt the vesting of these tokens, effectively terminating Block.one’s involvement due to their failure to provide continued software development and support for the EOS ecosystem. Consequently, the 68 million unvested tokens remain dormant in the eosio.stake account, removed from circulation.
The Network sustains its operations by maintaining a 3% annualized inflation rate, wherein 1% is allocated to block producers and the remaining 2% is channeled towards the treasury, supporting the EOS Network Foundation’s initiatives.
The EOS Network’s Security Mechanisms: A Deeper Dive
EOS is founded upon delegated-proof-of-stake (DPOS), a variant of proof-of-stake that empowers token holders with governance authority commensurate with their stake in the system. The EOS token represents a proportional claim to access the EOS network’s resources, as well as a proportional claim to its governance privileges. The EOS Network operates as a decentralized operating system, governed by a decentralized autonomous organization (DAO).
In the Delegated Proof of Stake (DPOS) consensus algorithm, EOS token holders exercise their voting power by delegating their stake to elect trusted representatives, who are responsible for validating transactions. One of the primary advantages of this mechanism is that it mitigates the risk of consolidation, wherein smaller miners are often displaced by their more powerful counterparts, possessing greater computational resources and capabilities.
Acquiring EOS: A Comprehensive Guide to Exchanges and Platforms
EOS can be readily purchased through prominent exchanges such as Binance, Coinbase, Kraken, Bithumb, and Upbit, among numerous others. Its widespread adoption in the crypto industry makes it highly unlikely to find a trading platform that does not offer support for this cryptocurrency.