- What is EOS?
EOS.IO (EOS) is a decentralized operational system for developing and running smart contracts and decentralized applications. Those applications can run on the EOS blockchain without requiring any transaction fees. Instead, the developer needs only to stake a proportional amount of EOS tokens to host and execute applications on its blockchain. Therefore, it allows for self-sufficient application deployment. The amount of computational power one is entitled to is proportional to how many EOS tokens they’re holding and the total EOS in circulation.
Applications run smoother on EOS because of its parallel processing capability. It has a dPoS system, in which 21 elected nodes are elected as block producers. These nodes are constantly checked for availability and if they are unable to produce a block over a 24h time-span, their position is revoked.