EOS could be a blockchain platform for the event of decentralized applications (dapps), almost like Ethereum in operate. It creates dapp development simple by providing associate operating-system-like set of services and functions that dapps will make use of.
The idea behind Eos is to compile the most effective options and guarantees of the varied sensible contract technologies out there (e.g. security of Bitcoin, computing support of Ethereum) in one straightforward to use, massively scalable dapplication platform for the everyday user to empower the upcoming blockchain economy.
EOS guarantees to be a true competition within the dapp arena, lowering the barrier to entry for developer et al seeking blockchain-powered solutions.
How Eos Works
The Eos vision is to create a blockchain dapp platform which will firmly and swimmingly scale to thousands of transactions per second, all whereas providing associate accessible expertise to app developers, entrepreneurs and users. They aim to produce and complete software package for decentralized applications targeted on the online by providing services like user authentication, cloud storage, and server hosting.
Be Authentic(ated)
The Eos network could be a ready-made platform for apps that lets developers faucet into a full-featured authentication system. User accounts, complete with completely different permission levels and their own domestically secured user knowledge return as a feature of the network. the newest Eos updates have enabled shared information access between accounts and therefore the ability to store user knowledge on an area machine off of the blockchain.
Recovery for taken accounts is baked into the system furthermore, with varied ways of proving your identity and restoring access to a compromised account.
Keep It within the Cloud
Server hosting and cloud storage square measure a part of the Eos system furthermore, which means that application developers will build and deploy applications and internet interfaces with hosting, cloud storage and transfer information measure provided by the Eos system. This opens developers up to bring their concepts into reality free from the strain of securing storage and information measure.
The developer can have access to usage analytics for storage and information measure directly from Eos, and be able to set limits for specific applications to no matter levels they select. These services square measure got by staking Eos tokens.
Scaling Up
Most common blockchains (think Bitcoin and Ethereum) use “consensus over state,” which means that at any purpose all of the computers on the network will verify this state of the whole blockchain so as to stop fraud and make sure transactions. The blockchain in those cases could be a graph of the state of the system, and once every new block is superimposed to the blockchain, nodes on the network take every dealing from the block and update the state of every address related to those transactions.
When mistreatment agreement over events, the main target is on the transactions (or merely messages) as opposition the state. rather than corroborative the state of the network at any given time, nodes verify the series of events that have occurred thus far to stay track of network state. The result's a system that takes longer to utterly reassert the history of transactions once restarted, however will handle a way higher turnout of transactions whereas running.
What this implies in plain English is that the Eos network will scale to at least one million messages or transactions per second out of the gate on one machine, with in theory infinite scaling attainable in parallel between multiple machines.
Free to Use
An application designed on the Eos platform doesn't need micropayments by finish users to send messages and perform tasks on the blockchain. this is often left up to the individual app developers to see however transactions fees (which square measure extraordinarily low) are paid, which means firms square measure absolve to return up with their own monetisation ways and supply their users service without charge or not.
Features, not Bugs
The Eos system provides a governance model supported block producers than will vote on that transactions square measure confirmed, whether or not associate application is running properly and on changes to the ASCII text file of individual applications furthermore to the Eos system itself. this implies that the community will actively upgrade, downgrade, and fix bugs within the system during a democratic and secure manner.
No bother acting
The Eos system reduces the latency and maximizes performance by structuring every block (produced each three second presently and being tested at zero.5 seconds) even additional finely into “cycles,” that square measure consecutive performed. Cycles square measure successively structured into “threads” that run in parallel among cycles. this enables for messages and transactions to be sent and more established among single blocks and between blocks, transfer the theoretical bottom limit to the latent period right down to merely message UTC over information superhighway.
There square measure plenty of technical options and details overlooked here, and if you’re fascinated by diving into the nitty gritty i'd head over to the Technical Whitepaper.
Roadmap, Team, and Community
The Eos project is being developed by an organization known as Block One, diode by Dan Larimer (co-founder of each Bitshares and Steemit) and Brendan Bloomer. each offer some serious expertise within the crypto world and are in public active in promoting the technology as an entire additionally to their own comes.
The Eos team is true in line with the roadmap planned earlier this year, and still plug away at development with nice speed. The Eos Dawn one.0 unharness was discharged Sept fourteen, 2017, the Dawn 2.0 unharness brought resource trailing and inter-blockchain communication on December four, 2017 and therefore the Dawn three.0 unharness is pegged for Spring 2018 and is meant to be the primary official unharness of the system! I see bright things for Eos within the future and would undoubtedly recommend keeping a watch on this project because it develops.
The community behind Eos is vivacious and international, with plenty love from investors and contributors alike. Meetups square measure common, art is being created, the wire cluster is active and Eos communities are often found on Facebook, Twitter and Steemit. Overall, there's plenty of promotional material and plenty of pleasure.
The Eos Token Sale
The Eos token sale works like no different token sale thus far. The token sale takes place over a full year, beginning Gregorian calendar month twenty six, 2017, with 350 periods of distribution. At the top of every amount, the whole range of Eos tokens selected for that amount are distributed to contributors supported the number of ETH they contributed divided by the whole contribution.
During this point, Eos tokens square measure listed on most of the key exchanges and so the worth is set by the market. This parades the sale to anyone interested and provides lots of time to observe the event and progress of the Eos team before causative. The result has been one amongst the very best funded token sales up to now and plenty of growth for the token within the in the meantime.
The Eos token itself doesn't perform a operate and is just helpful in this once developers begin to develop applications on the Eos platform, they're going to need Eos tokens to come up with their specific application tokens, with every application’s acceptance on the Eos platform dependent on pick by holders of Eos tokens.
Conclusion
EOS is associate exciting project within the dapp arena, with a verified team, a lofty vision and game-changing options on the roadmap. Keep a watch out for the stable unharness someday Spring 2018, not blink up to now through their social media accounts, associated acquire some tokens via their token sale web site or from an exchange if you think within the technology and growth!
