What is EOS (EOS)
EOS is a blockchain-based platform that facilitates the development of dApps and provides access to them. It is based on the EOSIO framework and, according to the project’s website, was created by thousands of developers around the world. EOS was launched in 2018 and is also supported by Block.one. However, according to the project’s website, it is not managed by a single entity.
The EOS network utilizes the Delegate Proof-of-Stake consensus algorithm. EOS Public Blockchain allows users to benefit from a unique resource allocation model, PowerUp Model. PowerUp allows users to rent NET and CPU, providing them with the necessary resources. EOS is a governance token that allows holders to vote for block producers. During the voting process, the candidates’ participation in the EOS ecosystem and any community programs is taken into account. Holding EOS is also necessary to create and run dApps on the EOS network, however, it is not required to spend tokens to access these resources.
In September 2022, EOSIO, the framework on which EOS is based, went through a hard fork. The hard fork, titled Leap 3.1.0, is a consensus upgrade that created the Antelope blockchain. Antelope is now powering the EOS network.
