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Tokens > EOS

EOS

Last Updated: March 14, 2022

EOS is the native token that drives the EOS Public Blockchain and provides utility to the blockchain’s network participants. The EOS Public Blockchain is an open network designed to accommodate application developers with prioritizations for performance, security, and stability.

The EOS Public Blockchain also supports C++ based, automated, self-executing agreements, known as smart contracts. It is built on EOSIO, an open-source blockchain protocol developed by Block.one* that supports numerous public and private network deployments.

Background

The EOS Public Blockchain was launched in 2018 by a widely dispersed global community of technologists and software engineers. The collaborative effort of thousands of developers around the globe, today the EOS Public Blockchain is one of the most active networks in the world. The EOSIO protocol on which it is based is the result of an engineering effort led by Dan Larimer and Brendan Blumer.

EOS is designed to decentralize the operations of applications on a commercial scale. The EOS Public Blockchain allows developers to deploy smart contracts in C++ that are capable of expressing business logic and facilitating a wide range of use cases.

The EOS Public Blockchain continues to drive industry standards with a high level of operational performance that accommodates growth and scalability. As a result of this ongoing innovation, a growing variety of communities, platforms, and organizations continue to turn to the EOS Public Blockchain.

History

2018

Launch (Dawn etc)

2018

EOSIO 1.0 Platform Updates

2019

EOSIO 2.0 Platform Updates

2020

Power Up Resource Model goes live

What is EOS’s place in the ecosystem?

Scalability

The EOS Public Blockchain is built on EOSIO, an open-source blockchain protocol developed by Block.one. EOS tokens are used by application developers across a range of industries to support and scale with growing communities. The EOS Public Blockchain can accommodate different communities and applications, and today it accounts for a majority of global blockchain transactions.

Speed

Leveraging EOSIO, the EOS Public Blockchain supports around 2,800 transactions per second, averaging half-a-second confirmation time before block finality.

Security

The EOS Public Blockchain features an Asynchronous Byzantine Fault Tolerance mechanism for consensus as well as a user interface that supports human-readable account names.

Governance

The EOS Public Blockchain operates with an Asynchronous Byzantine Fault Tolerance Delegated Proof-of-Stake (DPoS) governance model. This model allows EOS token holders to vote and delegate Block Producers who are charged with securing the network by operating the nodes that confirm blocks of transactions according to codified rules.

Usage

The EOS Public Blockchain takes a stake-based approach to resource management. Staking EOS gives account holders access to a network resource model that nullifies fees by providing proportionate access to CPU, RAM, and NET. In addition, the network supports named accounts and permissions.

Smart

The EOS Public Blockchain utilizes C++ based smart contracts capable of being updated by system architects without impacting ongoing operations.

* Block.one is an indirect majority shareholder of Bullish.

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