EOS is the blockchain platform, protocol and coin powering a decentralized system for the hosting and execution of smart contracts and development of commercial-scale dapps. It is built around the ease of use and scalability, providing a globally available operating system with features such as cloud storage, user authentication etc. Users on the EOS network share their computing resources and have access to them based on their distribution which is governed by the stakes in EOS coin ownership.
The platform’s creator is the Block.one company which launched its initial version in January 2018. Ethereum network is seen as the EOS’ main rival, with the platform aiming to beat it in terms of scalability, transaction speed, and computing power demands. With that in mind, the company designed the blockchain platform EOSIO which currently claims to offer speeds of 3,996 transactions per second.
EOS platform is not without its detractors, however. One blockchain testing company based in Los Angeles has recently claimed that EOS is not a blockchain but rather a distributed homogeneous database management system. The EOS team responded by claiming that the testing was done by persons who may have bias towards Ethereum.