The EOS.IO software introduces a new blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications. This is achieved by creating an operating system-like construct upon which applications can be built. The software provides accounts, authentication, databases, asynchronous communication and the scheduling of applications across hundreds of CPU cores or clusters. The resulting technology is a blockchain architecture that scales to millions of transactions per second, eliminates user fees, and allows for quick and easy deployment of decentralized applications.
“To ensure inclusivity, EOS are not sold for a fixed price, but sold at a price determined by market demand; this mimics mining, but does not offer unfair advantages to large purchasers,” said Brendan Blumer, CEO of block.one, the open source software and blockchain company developing EOS.
block.one will distribute one billion EOS ERC-20 compatible tokens, called “EOS Tokens” over 341 days starting on June 26, 2017 at 13:00 UTC following the below schedule:
EOS is being designed to scale mainstream development for large enterprises, currently unsupported by existing blockchain platforms. EOS introduces asynchronous communication and parallel processing to support millions of transactions per second, higher than that of Facebook and Google at 52 and 40 thousand per second, respectively.
EOS is being designed to support distributed applications that have the same look and feel of their centralized counterparts, including eliminating the requirement for the user to pay for every transaction. This enables new blockchain users to get involved without having to navigate the complex process of purchasing a cryptocurrency and should help to spur the industry. It also means any type of application can be built, run, and governed by EOS’s operating system, creating a new level of transparency for business.
The expansive EOS team is being led by blockchain veterans:
EOS will be able to do millions of transactions per second. That be scaled by adding more processing power, multiple cores or clusters of computers, complete networks. Combined with powerful high-speed WASM scripting for Smart Contracts and no transaction fees. This is the next big thing in blockchain technology. For Bitshares, Peerplays, Golos and Steem this is also great because it is all one big fast family. And the EOS code could be used for future developments of things like Steem. Exciting times ahead….
Full details of the token distribution are disclosed in the terms and conditions, at eos.io.
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