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Whatis EOS?

EOSIOis software that introduces a blockchain architecture designed to enablevertical and horizontal scaling of decentralized applications (the “EOSIOSoftware”). This is achieved through an operating system-like construct uponwhich applications can be built. The software provides accounts,authentication, databases, asynchronous communication and the scheduling ofapplications across multiple CPU cores and/or clusters.

Features:

Ÿ   Scalability - EOS areclaiming that because they use DPOS aka the distributed proof-of-stakeconsensus mechanism, they can easily compute millions of transactions persecond. We will explore DPOS in a bit.

Ÿ   Flexibility -Ethereum’s entire system came to a standstill because of the DAO attack.Because EOS uses DPOS this is unlikely to happen again in their ecosystem. If aDAPP is faulty, the elected block producers can freeze it until the system istaken care of. This is simply an extension of the DPOS system, not every nodehas to take care of chain maintenance.

Ÿ   Usability - EOS allowswell-defined levels of permission by incorporating features like web toolkitfor interface development, self-describing interfaces, self-describing databaseschemas, and a declarative permission scheme.

Ÿ   Governance - In EOS theGovernance is maintained by establishing jurisdiction and choice of law alongwith other mutually accepted rules.This is usually done via the legally bindingconstitution. Every single transaction in EOS must include the hash of theconstitution to the signature.

Ÿ   Parallel Processing -In parallel processing, program instructions are divided among multipleprocessors. By doing this, the running time of that program decreases greatly.EOS provides parallel processing of smart contracts through horizontalscalability, asynchronous communication, and interoperability.

Ÿ   Self-Sufficiency - Anyblockchain based on the EOS software will have to generate a 5% naturalinflation per year.

Ÿ   Decentralized OperatingSystem - Probably the most critical feature to truly understand what EOS is allabout is this feature.