EOS the new set of software that is on the basis of the concept of DECENTRALIZING EVERYTHING. The concept that explains the world that the new amusement in the town is a blockchain operating system designed to support commercial decentralized applications, as announced, further details for its digital token distribution to be launched on Ethereum. Opened on Monday, June 26, EOS’s token distribution follows a unique participation model that will take place over the course of one year.
EOS is a consensus blockchain operating system that provides databases, account permissions, scheduling, authentication, and internet-application communication to massively improve the efficiency of smart business development that uses parallelization to make possible blockchain scalability to millions of users and millions of transactions per second.
Understanding the System
Bitcoin basically introduced the idea of a PUBLIC LEDGER SYSTEM. While ETHEREUM then came to prove the face of the need of DECENTRALISED APPLICATIONS more generally. To understand these systems more closely and in a better manner i would suggest you to go MAINSTREAM. For Example For example, credit card networks need to be able to process 20,000 transactions per second. Facebook processes 52,000 likes per second, and that doesn't include actual posts and other activity. The financial industry processes 100,000 transactions per second, potentially per market.
Although this system has been growing very rapidly since its origination in 2014. The bitShares concept has since then made people realise the importance of the CRYPTOGRAPHIC WORLD. But there are still alot BARRIERS that need to be resolved. For example, there is a huge commonality between Bitshares and Steem in terms of functions, and relatively a very small difference in terms of application business logic. EOS aims to provide this operating system to provide all the core functions to app developers and allow them to focus on just the business logic that makes their apps unique.
EOS provides parallel processing of smart contracts through horizontal scalability, asynchronous communication, and interoperability. It will provide databases, account permissions, scheduling, authentication, and internet-application communication. For example, both Bitshares and Steem can be run on EOS in parallel, and because of the asynchronous communication, additional nodes and entire clusters can be thrown behind the processing of transactions to scale up to any transaction volume you want.
Current Development Team:
Brendan Blumer: CEO
Daniel Larimer: CTO
Kokuei (Guo) Yuan: President
Andrew Bliss: CFO
Michael Cao: partner
Ian Grigg: partner
Brock Pierce: partner
Li Xiao Lai: partner
Wendy Lee: CLO
Bo Shen: partner
Conclusion
The project was started a couple of months ago, and code will be released on github after the Consensus 2017 conference. Code will be tested out this summer. Visit eos.io to sign up for the newsletter. The EOS team is trying to treat project information very sensitively so that there is no inside group with access to key information before the greater community, so make sure to sign up for the mailing list!
