. What is EOS? Here is the Crypto Currency EOS Coin in All Details
In this article, What is EOS? We will try to answer the question and provide detailed information about the project.
In this article, What is EOS? We will try to answer the question and provide detailed information about the project.
What is EOS?
EOS is a Representative-Secured cryptocurrency which was launched in 2018 after a record-breaking ICO surpassed $ 4.1 billion. The focus is on development flexibility, network scalability and user friendliness.
EOS is designed for general adoption and therefore not only strives to maximize scalability, but also meets the needs of businesses with robust and secure software.
The private governance architecture was the first of its kind, including a constitution, arbitration forum, and more, and has been evolving from its inception.
EOS has a unique resource model that requires users to share EOS tokens to receive and use RAM, CPU and Network Bandwidth.
EOS (EOS) Nedir?
EOS, the company that developed Block.one, raised more than $ 4.1 billion in an annual ICO that ended in July 2017. This makes up the largest ever recorded, surpassing the second largest ICO of 2017 (i.e., Filecoin with $ 257 million).
Later, EOS’s block producers launched the mainnet in 2018 in a community effort. It is a representative Proof of Stake blockchain that focuses on development flexibility, network scalability and user friendliness.
EOS is designed with the goal of general adoption and therefore not only strives to maximize scalability, but also appeals to organizations with robust and secure software.
It relies heavily on the consensus mechanism chosen to achieve this goal and makes the management of the 21 block producers and their successors crucial.
EOS currently focuses on four key areas:
Scalability “To meet the needs determined by market dynamics with a robust, efficient and highly capable software environment”.
The developer experience is “at the forefront of our mind” and is optimized “by providing a wide variety of tools”.
User experience should be smooth with safe, simple and familiar interfaces.
Organizations need “robust and secure software” based on a high-performance consensus mechanism, tools for regulatory compliance, and more.
Key features include:
Representative Proof of Stake: EOS was one of the earliest blockchains to deploy a delegated Proof of Stake consensus (dPoS) mechanism. This consensus mechanism is a crucial part of achieving desired performance.
Resource allocation: In EOS, users have three types of resources: CPU, NET, and RAM. While CPU and NET can be accessed by staking EOS, RAM must be purchased from an EOS smart contract adopted by Bancor and acting as a market maker / pricing agreement.
Governance: The consensus mechanism chosen strengthens the need for governance. In EOS, token holders, proxies, dApp developers, Block.one and (candidate) block producers participate in the management of the network.
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