About EOS
EOS is a decentralized ecosystem with a Delegated Proof of Stake blockchain and native cryptocurrency EOS. The project launched in 2018 with a successful ICO that raised over $4.1 billion. EOS improves scalability, user experience, and development capabilities like many other third-generation blockchains. These three aspects make it well suited to enterprise needs.
EOS is made up of two parts: EOS tokens and EOSIO, the projectâs mainnet blockchain. EOS tokens are used to access CPU, RAM, and Network Bandwidth on the network. The token has an unlimited supply with a 1% inflation rate used to reward the production of new blocks. Developers hold EOS tokens to create and run DApps, and non-developers can share their bandwidth for a fee with other users.
EOSâs consensus mechanism allows block creators to set a custom fee for processing transactions. The EOS tokens they receive as a reward is then based on the median of the fees charged by all block creators. However, there is a mechanism in place to stop these rewards from exceeding 5% inflation annually, and token holders can even block producers who want too large a reward.