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Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => EOS Forum => Topic started by: Niko on September 26, 2018, 02:28:13 PM
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What is EOS? A Beginner's Guide
By
James Risberg
July 9, 2018 1:48 pm
[Editor's note: This article was updated on 7.9.2018 to reflect updates on the project.]
An Introduction to EOS
EOS is a blockchain platform for the development of decentralized applications (dapps), similar to Ethereum in function. It makes dapp development easy by providing an operating-system-like set of services and functions that dapps can make use of.
The idea behind EOS is to bring together the best features and promises of the various smart contract technologies out there (eg security of Bitcoin, computing support of Ethereum) in one simple to use, massively scalable dapp platform for the everyday user to empower the impending blockchain economy.
In this beginner's guide, we'll get into:
How EOS WorksRoadmap, Team, and CommunityToken SaleHow to Buy EOSConclusion
How EOS works
The EOS vision is to build a blockchain dapp platform that can securely and smoothly scale to thousands of transactions per second, all while providing an accessible experience to app developers, entrepreneurs, and users. They aim to provide a complete operating system for decentralized applications focused on the web by providing services like user authentication, cloud storage, and server hosting.
Be Authentic (ated)
The EOS network is a ready-made platform for apps that lets developers tap into a full-featured authentication system. User accounts, complete with different permission levels and their own locally secured user data come as a feature of the network. You're also able to share database access between accounts and store user data on a local machine off of the blockchain.
Recovery for stolen accounts is deposited into the system as well, with various methods of proving your identity and restoring access to a compromised account.
Keep It In The Cloud
Server hosting and cloud storage are part of the EOS system as well, meaning that application developers can build and deploy applications and web interfaces with hosting, cloud storage, and download bandwidth provided by the system. This opens developers up to bring their ideas into reality free from the demands of securing storage and bandwidth.
As a developer, you have access to usage analytics for storage and bandwidth directly from EOS and are able to set limits for specific applications to whatever levels you choose. These services are paid for by staking EOS tokens.
Scaling Up
Most common blockchains (think Bitcoin and Ethereum) use "consensus over state," meaning that at any point all of the computers on the network can verify the current state of the entire blockchain in order to prevent fraud and confirm transactions. The blockchain in those cases is a graph of the state of the system, and when each new block is added to the blockchain, nodes on the network take each transaction from the block and update the state of each address associated with those transactions.
When using consensus over events, the focus is on the transactions (or simply messages) as opposed to the state. Instead of verifying the state of the network at any given time, nodes verify the series of events that have occurred so far to keep track of network state. The result is a system that takes longer to complete reconfirm the history of transactions when restored but can handle a much higher throughput of transactions while running.
What this means in plain English is that the network can scale to one million messages or transactions per second out of the gate on a single machine, with theoretically infinite scaling possible in parallel between multiple machines.
Free to Use
An application built on the EOS platform does not require micropayments by end users to send messages and perform tasks on the blockchain. This is left up to the individual app developers to determine how transactions fees (which are extremely low) will be paid, meaning companies are free to come up with their own monetization strategies and offer their users service for free or not.
Features, not Bugs
The EOS system provides a governance model based on block producers than can vote on which transactions are confirmed, whether an application is running correctly and on changes to the source code of individual applications as well to the system itself. This means that the community can effectively upgrade, downgrade, and fix bugs in the system in a democratic and secure manner.
No Trouble Performing
The EOS system reduces the latency and maximizes performance by structuring each block (produced every 3 seconds currently and being tested at 0.5 seconds) even more finely into "cycles," which are sequentially performed. Cycles are in turn structured into "threads" that run in parallel within cycles. This allows for messages and transactions to be sent and responded to within single blocks and between blocks, bringing the theoretical bottom limit to the response time down to simply message transmission time over the net.
The Technical Whitepaper outlines a lot of the nitty-gritty features and details that we've left out here for brevity.
Roadmap, Team, and Community
The EOS project is being developed by a company called Block.one, led by Dan Larimer (co-founder of both Bitshares and Steemit) and Brendan Bloomer. Both provide some serious experience in the crypto world and have been publicly active in promoting the technology as a whole in addition to their own projects.
EOS Dawn 1.0 was released September 14, 2017, the Dawn 2.0 release bought resource tracking and inter-blockchain communication on December 4, 2017 and the Dawn 3.0 release (the project's official launch) occurred in April 2018.
The community behind EOS is vibrant and global, with a lot of love from investors and contributors alike. Meetups are common, art is being created, the Telegram groupis active, and more communities can be found on Facebook, Twitter, and Steemit.
Token Sale
The EOS token sale was one-of-a-kind. It took place over a full year, starting June 26, 2017, with 350 periods of distribution. At the end of each period, the total number of EOS tokens designated for that period were distributed to contributors based on the amount of ETH they contributed divided by the total contribution amount.
During this time, EOS tokens were listed on most of the major exchanges. Therefore the price was mainly determined by the market. This opened up the sale to anyone interested andave plenty of time to watch the development and progress of the EOS team before contributing. The result has been one of the highest funded token sales to date and a lot of growth for the token in the meantime.
The EOS token itself does not perform a function. It's only useful in that developers developing applications on the EOS platform are required to use EOS tokens to generate their specific application tokens. And, each application's acceptance on the platform is contingent on voting by EOS token holders.
How to Buy EOS
The simplest way to buy EOS is to purchase it on Binance with either USDT, BTC, or ETH. You can also buy it on Bitfinex, Huobi, or OKEx although the process may not be as straightforward.
If you only have USD (or any other fiat) currently, you've got some additional steps. First, you need to set-up an account on a platform that supports fiat to crypto exchanges. Gemini, GDAX, and Coinbase are all popular options.
Once you're set up, you should link your bank account and send USD to the platform. From there, buy Bitcoin.
Now that you own Bitcoin, send it from your original exchange to Binance. Finally, on Binance, trade your Bitcoin for EOS.
Conclusion
EOS is a controversial project in the dapp arena with a proven team, lofty vision, but questionable execution so far. The $ 4bln budget should be more than enough, though, for the project to accomplish all it's set out to do. The next couple of years will be crucial for the platform to place a foothold in the dapp market.
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EOS is a blockchain technology basically like Ethereum which has been brought to life by Dan Larrimer. He is also the creator of Steem and BitShares. On June 26, 2017 the project starts its ICO.
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EOS is a valuable and profitable coin.It's network is a ready made platform for apps that let developer tap into a full featured authentication system. It completes with different permission levels and their own locally secured user data come as a feature of the network and also able to share database access between accounts and store user data on a local machine off of the blockchain.This coin will rise in the crypto market soon.
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EOS is a decentralized operating system based on blockchain technology.EOS aims to be an entirely decentralized operating system on which industrial scale decentralized applications can be hosted.
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EOS is also a strong project on smart contract, it enables higher transaction speeds and much more scalability. It can process millions of transactions per second thanks to the horizontal scaling, thus beating Ethereum and Bitcoin.
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We believe this is a good investment for the long term but still depends on many factors and involves the risk itself. Now something can go wrong and we need to see how and other EOS teams can react to setbacks and if they can solve their problems (if any). It's speculative but if you are ready to wait a year or two, you might get a big profit from EOS. Good luck !
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A total of 1 billion EOS tokens are being distributed on the Ethereum blockchain for a period of 341 days using smart contracts.
EOS.IO will officially become open-source software on June 1, 2018 , opening up to developers to exploit the potential of EOS coins. Instead, owners of EOS tokens will act as shareholders of traditional public companies, so that owners can vote and participate in blockchain management according to the proportion of ownership.
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EOS is a blockchain-based digital coin that supports a decentralized system that allows safe and non-centralized storage and processing of user data. EOS provides core functionality that is very much needed. Digital money that utilizes the peer to peer system is fairly new in the crypto market.
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What I know is that EOS is basically blockchain technology like Ethereum which has been turned on by Dan Larrimer. He is also the creator of Steem and BitShares. On June 26, 2017, the project started its ICO.
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Yea, you are right, and in addition, EOS is aimed to build a decentralized blockchain that can process fast and free transactions. It will also allow smart contracts to be built on top of it, which will allow developers to release dApps. Not only this, but EOS want to build a platform that functions like an operating system, which will make it really easy to use!
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EOS is basically blockchain technology like Ethereum which has been turned on by Dan Larrimer. He is also the creator of Steem and BitShares. On June 26, 2017, the project started its ICO.
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EOS.IO is a blockchain protocol powered by the native cryptocurrency EOS. The protocol emulates most of the attributes of a real computer including hardware (CPU(s) & GPU(s) for processing, local/RAM memory, hard-disk storage) with the computing resources distributed equally among EOS cryptocurrency holders
https://en.m.wikipedia.org/wiki/EOS.IO
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EOS is a blockchain platform for the development of decentralized applications (dapps), similar to Ethereum in function. In fact, supporters have dubbed it the Ethereum killer. It makes dapp development easy by providing an operating-system-like set of services and functions that dapps can make use of.
The idea behind EOS is to bring together the best features and promises of the various smart contract technologies out there (e.g. security of Bitcoin, computing support of Ethereum). Simply put, the EOS community is working to provide one simple to use, massively scalable dapp platform for the everyday user.
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EOS is a cryptocurrency founded and designed by cryptocurrency serial entrepreneur, Dan Larimer. It aims to be a user-friendly and high-performance smart contract platform that uses a novel design to eliminate transaction fees and enable parallelized decentralized application (dApp) execution. dApps on existing smart contract platforms, such as Ethereum, are often slow and require transaction fees for every interaction. These are limitations imposed by their underlying blockchains, which are optimized for decentralization over of performance.
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EOS.IO is a blockchain protocol powered by the native cryptocurrency EOS. The protocol emulates most of the attributes of a real computer including hardware (CPU(s) & GPU(s) for processing, local/RAM memory, hard-disk storage) with the computing resources distributed equally among EOS cryptocurrency holders. EOSIO operates as a smart contract platform and decentralized operating system intended for the deployment of industrial-scale decentralized applications through a decentralized autonomous corporation model. The smart contract platform claims to eliminate transaction fees and also conduct millions of transactions per second.
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EOS is a blockchain network and platform for decentralized applications built on Ethereum. It performs many of the same functions, but with much greater capacity — up to millions of transactions per second. EOS stands for Ethereum Operating System – unofficially. The EOS cryptocurrency token sale raised $4 billion over a year-long ICO.
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EOS is a decentralized operating system based on blockchain technology. It is designed to support of decentralized applications on a commercial-scale by giving all the required core functionalities. These enable businesses to build the blockchain applications in a manner that stays similar to that of web-based applications.
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EOS is a blockchain technology basically like Ethereum which has been brought to life by Dan Larrimer. He is also the creator of Steem and BitShares. On June 26, 2017 the project starts its ICO. EOS is similar to a decentralised operating system, in practice this means that developers can build applications on EOS. Owning EOS coins is a claim on server resources. A developer needs to have EOS coins to use the EOS blockchain.
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Guys, I don't understand why you all write the same thing. ;D The author clearly described what EOS is and what its advantages are. :)I believe that this topic is to discuss the + and - of this cryptocurrency. Better tell me, do you believe in this coin? Are you investing in it? Why did you choose this coin?
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EOS is a Blockchain platform that functions more or less like the Ethereum network but uses EOS tokens. It makes decentralized application development easy by providing a regulating set of services and functions that dapps can leverage on. The project was created by Dan Larimer, the founder of both Bitshares and Steemit.
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EOS is a decentralized platform based on blockchain technology. It is designed to support decentralized applications (dapps) similar to Ethereum in its core functionalities. The aim of EOS is to build a blockchain platform that can process thousands of transactions per second without on-chain transaction costs. Blocks are produced by Block Producers, similar to a miner on Ethereum. When they produce blocks, they are paid by the EOS blockchain itself, removing the fees from the user. The EOS token has a built-in inflation-rate which helps maintain the ecosystem. On the EOS Blockchain, two blocks are produced every second. Only one block producer is guaranteed to create a block at any given point in time. In order to ensure the network is performing at an optimal rate, a block producer that doesn't produce a block within a predefined time slot is temporarily removed from the network.
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EOS introduces a blockchain technology that will easily allow developers to create decentralized applications, or dApps. Other blockchains, like Ethereum, support dApps, but EOS was designed with app developers in mind. Just like browser or phone apps, a dApp can be anything: an alarm clock, a way for artists to fund projects, a social network, a game, or an AR version of Google Street View.
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OES is a digital currency that has great potential and has a very good network, and many advantages or advantages EOS has.
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EOS addresses some shortcomings of the Ethereum Network.For instance, it is fast and more scalable than Ethereum. Where the Ethereum Network requires users to pay gas to use it, transactions on the EOS blockchain are free.
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EOS is a blockchain technology basically like Ethereum which has been brought to life by Dan Larrimer. He is also the creator of Steem and BitShares. On June 26, 2017 the project starts its ICO.
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Eos is one of the crypto currencies, that makes easy, the development of decentralized applications (Dapps). Eos is a blockchaing driven platform that aims at processing numbers of transactions with no transaction fee, beating Btc and ETH at this point of development.
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Eos is one of the crypto currencies, that makes easy, the development of decentralized applications (Dapps). Eos is a blockchaing driven platform that aims at processing numbers of transactions with no transaction fee, beating Btc and ETH at this point of development.
Hi mate, maybe you mean is blockchain and not blokchaing
Many meanings of EOS coins and some other media information such as Wikipedia and other articles can explain what is EOS
https://support.bancor.network/hc/en-us/articles/360018325551-What-is-EOS-and-how-does-EOS-work-
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Calling itself the most powerful infrastructure for decentralized applications, EOS is a blockchain-based, decentralized system that enables the development, hosting, and execution of commercial-scale decentralized applications (dApps) on its platform. EOS focuses on critical pain-points of blockchain and attempts to solve the problem of speed, scalability, and flexibility that often become a bottleneck for such blockchain-based systems.
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Guys, I don't understand why you all write the same thing. ;D The author clearly described what EOS is and what its advantages are. :)I believe that this topic is to discuss the + and - of this cryptocurrency. Better tell me, do you believe in this coin? Are you investing in it? Why did you choose this coin?
I think they just increase their rank of account altcointalk so they made same posts on here.
I believe in EOS blockchain because the developer of team especially the leader of EOS Dan larimer has good experience in technology of blockchain.
I have made investment in EOS and the projects (decentralize application dapps)
I choose EOS blockchain because it is faster than other cryptocurrencies blockchain, the other reason some people said that EOS blockchain is third generation of blockchain technology in the world especially for smart contract and decentralize application platform.
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EOS was created on an initial basis from the Ethereum network and then EOS transferred its network to the blockchain itself along with TRON.
I still remember that EOS missed the news and RON drove quickly to the price of 1000 Satoshi and EOS still lags behind the low prices on the cryptocurrency market.
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Calling itself the most powerful infrastructure for decentralized applications, EOS is a blockchain-based, decentralized system that enables the development, hosting, and execution of commercial-scale decentralized applications (dApps) on its platform.
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I think eos is also a good coin and also has clear potential in the future, so for me eos is also a good coin to survive in the long run, because now the price development is also increasing every day
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EOS has the same functions as Ethereum, EOS is a Cryptocurrency Token and Blockchain that operates as a Smart Contract Platform for the deployment of Decentralized Applications and Autonomous Corporations. Many people say that this EOS will replace Eth in the future.
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I have lost of 5160 steel, what can I add to this to make good knife damascus? I want to make a damascus knife for a buddy that does lost of hunting, want to make him a nice knife to use. Thanks for the help.
Jim
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Arcane used to be called Holy, an leftover of that time. Has been left as is for sake of simplicity and because wouldnt differ that much when seperated into holy,unholy,arcane.