The Electro-Optical System (EOS) is a decentralized blockchain-based platform that is used to develop, host, and run decentralized apps (dApps). In June 2018 launched it. The whitepaper for its software was published in 2017. An initial coin offering that lasted a year raised $4.1 billion, skyrocketing the popularity.

EOS addresses the problems that blockchain-based dApps platforms had in the past. It prioritizes the development and optimization of dApp performance. It can even run commercial and business dApps because of it provides secure access and authentication, permissions, usage management, data hosting, and communication between dApps and the Internet.

Historic Price Chart

How does it work?

The EOS platform has two key elements: the software and coins/tokens. The software manages and controls the EOS blockchain network by using blockchain architecture for the horizontal and vertical scaling of dApps.

Function Diagram
Source: EOSIO

EOS tokens/coin is the native cryptocurrency of the EOS network. DApp developers need to hold coins so that they can use the network resources and to build and run their own dApps. Token holders can also opt to rent their bandwidth to other participants. It is important to note that dApp users do not have to pay for transactions, making the token free to transfer. However, developers are still have to pay for network resources.

What are the benefits of EOS?

Ethereum is the largest rival of EOS and its advantage is that it addresses many issues that Ethereum has, including scalability, flexibility, upgradability, and parallel processing.

Comparison of their competitor
Source: AS

EOS has a distributed proof-of-stake mechanism. This mechanism improves scalability at an exponential scale. Due to this mechanism, it claims to be able to support millions of transactions per second while consuming less energy. it also enables parallel processing of smart contracts by adding more systems and computers to the resource pool (horizontal scalability), boosted interoperability, and an asynchronous permission schema.

EOS obtains support from a web toolkit store that aims at hassle-free app development. DApps that are developed and deployed in the EOS platform are upgradeable. Users can be authorized to deploy code fixes, change or add features and application logic, and renew applications without being attached to a bug. Developers can also deploy irreversible smart contracts.


EOS has faced a few controversies since its launch. Its centralized block producers and systems support large token owners in China. It also lacks an effective governance process, with block producers holding much of the power in decision-making. However, it has implemented a system that runs a vote across all token holders.

EOS has a lot of potential as a dApp platform. However, it is still in its development stages. There are issues to address, especially with its governance process and ties with China, but its user-friendly interface may attract more developers to the platform.

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