What Is EOS?
EOSIO is the startup that has received the largest Crowd Funding in history ($ 4 billion)
- Ubuntu Edge (Phone)
- Star Citizen (Game)
The graph shows the percentage of EOS.IO project raised funds, compared to other projects that have received "Crowd Funding". Source
The most important indicator that could be concluded from this graph is that the raised funds, by all these famous and large projects, did not constitute more than a quarter of what the EOS project has raised. It is a revolutionary project in the full sense of the word!, The percentage of the difference between EOS and the secondly ranked project exceeds 93%. Not only that; but also the proportion of all the raised funds for all 171 projects -listed in Wikipedia page for highest-funded crowdfunding projects- do not constitute 65% of what EOS has raised alone!
Many technical terms present a barrier, hindering non-specialists, from understanding important and decisive issues in the area of cryptocurrencies & blockchain, in this article we will try to simplify those terms as much as possible. We will discuss the EOS technology; a matter that is of a higher priority for those interested in cryptocurrencies; in order to know more about one of the important cryptocurrencies latest technologies; if not the most advanced one.
What Is EOS
Simply, EOS is a decentralized platform, designed to develop and support the ability to build decentralized applications; these applications that can handle massive numbers of users at the same time, rapidly and free of charge. The system was developed by Dan Larimer.
What could EOS offer to the world?!
EOS aims to establish a secure and transparent system; suitable enough to offer a management system for both local and global monetary transactions, providing an alternative to the current banking system.
Not only that, but also it aims to offer itself as an appropriate system, capable of running elections and referendums; where the blockchain technology could be used to guarantee its credibility, and protection, from fraud and rigging. Also, EOS aims to create a global digital identity, to be used to travel across countries and enabling the ownership of different properties.
"EOS is very similar to Ethereum, and it is developed to overcome Ethereum disadvantages, and to become a viable World Computer that can scale from inception and be suitable for global use, to be the “Web 3.0” infrastructure ."
“In terms of market size; the EOSIO was able to position itself in the top 10 cryptocurrencies right after a very short period of its launch.”
EOS main function is to provide easy to use tools, for the development of decentralized applications (dApps), as well as to provide a system enabling transactions, to be carried out immediately, in addition to the system "scalability"
To familiarize the reader; EOS has disruptively changed the market due to two factors:
EOS requires no fees for Transactions!
Currently EOS is developing technologies, that can handle millions of transactions in just one second.