What is EOS & Why?

Overview of The eos Blockchain Network

EOS Mainnet is directly based on EOSIO code which provides the building blocks of The most powerful infrastructure for decentralized applications. EOSIO is a free, open-source blockchain software protocol that provides developers and entrepreneurs with a platform on which to build, deploy and run high-performing decentralized applications (DApps). It is developed by block.one

swedencornet is confident that EOSIO has the potential to fundamentally change global economy and social systems. It has the potential to empower it’s communities, it’s user base, as well as involved stakeholders.

CEO, Brendan Blumer, and CTO, Daniel Larimer, talk how they got started in the blockchain space.

Why EOS.IO?

Hear from block.one CEO, Brendan Blumer and CTO, Daniel Larimer.

Some of the major benefits of EOSIO includes, but are not limited to:

Support Millions of Users

Businesses such as Twitter, Facebook, eBay, Uber, AirBnB, and Google, require from blockchain technology to be capable of handling tens of millions of active daily users. In some cases, an application may not even be successful unless a critical mass of users is reached and therefore a platform that can handle very large numbers of users is paramount.

Through horizontal scaling, EOSIO has the promise to enable the network capable of supporting millions of users on high performing applications.

Free Usage

EOSIO software does not require its users to pay the blockchain directly for its use. Though EOSIO resources (bandwidth, computation, and storage) are indirect costs associated with transactions. EOSIO allows multiple options for these resource costs to be transferred to different stakeholders (sender, receiver, applications, etc.).

Easy Upgrades and Bug Recovery

EOSIO supports software and smart contract upgrades. It allows the block producers to replace the account’s code without hard forking the entire blockchain. The replacement of the code requires a 15/21 vote of elected block producers.

Low Latency

In comparison with other blockchains, EOSIO minimizes the latency of the transactions and drastically improves the users’ experience of the applications built on top of EOSIO.

Human-readable account name

The EOSIO software permits all accounts to be referenced by a unique human-readable name of up to 12 characters in length.

Constitution

EOSIO software allows to establish peer-to-peer service agreement or a binding contract among those users who sign it. It is referred to as a “constitution”. It also defines the human-readable intent of the source code protocol.

Inter Blockchain Communication

EOS.IO software is designed to facilitate inter-blockchain communication.

Source: https://developers.eos.io/

EOS.IO For Business

Problems with EOS Mainnet (1st implementation of EOSIO) - EOS Democracy or Moneycracy

TELOS Blockchain - Addressing pain points of EOS Mainnet

For more research, please look at: https://eos.io/