EOS (EOS.IO) is a blockchain platform with smart contracts that creates decentralized applications (DApps) of any scale. It has similar functionality to Ethereum, but EOS has advantages: higher speed and scalability, zero transaction fees, and the original on-chain management model.
- EOS is free to use: no transaction fees or gas.
- Using the original DPoS (Delegated Proof-of-Stake) consensus algorithm. Pros: scalability and low power consumption. Cons: complex governance structure and the risk of centralization.
- No need to know unique programming languages: DApps can also be created in C++.
- Relations between the participants are regulated by smart contracts, and possible disputes are resolved by a special arbitration body EOS Core Arbitration Forum (ECAF). The rules of governance are spelled out in the Constitution.
In 2018, EOS broke the record for ICO revenues — more than USD 4 billion. The exchange rate of the EOS cryptocurrency of the same name is $6.693 (May 2021).