Introduction to EOS
EOS stands as one of the most turbulent ICO projects in blockchain history, with its ICO spanning an entire year. Reports indicate it raised $4 billion through ETH tokens. Founded by Daniel Larimer (known as "BM" in the GitHub community under ByteMaster), EOS follows his earlier ventures—Steem and Bitshares—both heavyweight blockchain projects utilizing DPoS (Delegated Proof-of-Stake) consensus mechanisms. DPoS leverages decentralized delegation to create a centralized service ecosystem, earning EOS the label of a "weakly centralized" blockchain.
Open-Source Software: EOS.IO
During its ICO, block.one—a Cayman Islands-registered company—spearheaded fundraising to develop the EOS.IO open-source software. ETH smart contracts issued tokens, later converted into EOS’s genesis block. Crucially, block.one focused solely on software development, not launching the EOS mainnet.
EOS.IO is open-source, allowing anyone to launch a public chain using its software and a genesis block. Initial ICO stakeholders, eager to convert tokens to native EOS coins, drove the mainnet’s launch, contingent on 15% tokenholder approval. The EOS mainnet finally went live in mid-2018.
Key Features of EOS
- DPoS Consensus: Invented by Daniel Larimer, DPoS (Delegated Proof-of-Stake) ensures efficiency by electing 21 supernodes.
- High Throughput: Built on Graphene technology, EOS supports high transaction volumes (like Bitshares).
- Weak Centralization: 21 supernodes manage the network, balancing decentralization with governance.
👉 Discover how DPoS compares to PoW and PoS
EOS Supernodes and Virtual Machines
EOS elects 21 supernodes and 100 standby nodes via DPoS voting. Supernodes share 50% of mining rewards, while standby nodes split the rest. These nodes handle all computations, reinforcing EOS’s weakly centralized model.
EOS supports:
- WASM for smart contracts.
- Ethereum EVM compatibility.
Example: Developers can build DApps without gas fees but must stake EOS tokens proportional to resource usage.
EOS Tokenomics and Scarcity
Unlike ETH, EOS emphasizes free but staked usage. Key economic traits:
- Fixed Supply: No continuous minting.
- Inflation Control: Annual 5% reduction in circulating supply offsets mining rewards.
- Resource Allocation: Tokenholders reserve network resources equal to their stake (e.g., 1% tokens = 1% bandwidth).
FAQ
Q: How is EOS different from Ethereum?
A: EOS uses staking (not gas fees) and DPoS (vs. ETH’s PoW/PoS), enabling faster transactions.
Q: Who governs EOS?
A: 21 elected supernodes, replaceable via community voting.
Q: Is EOS decentralized?
A: It’s "weakly centralized"—DPoS balances efficiency with governance.
👉 Explore EOS tokenomics in depth
Next: Stay tuned for EOS Smart Contract development insights!
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