What is EOS.IO software?
EOS.IO is software that introduces a blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications (the “EOS.IO Software”). This is achieved through an operating system-like construct upon which applications can be built. The software provides accounts, authentication, databases, asynchronous communication and the scheduling of applications across multiple CPU cores and/or clusters. The resulting technology is a blockchain architecture that has the potential to scale to millions of transactions per second, eliminates user fees and allows for quick and easy deployment of decentralized applications.
What are EOS tokens?
EOS tokens are ERC-20 compatible tokens distributed on the Ethereum blockchain pursuant to a related ERC-20 smart contract (the “EOS Tokens”).
What does EOS stand for?
We believe that EOS means different things to different people. We have received numerous amazing interpretations of what EOS stands for or what it should stand for so we have decided not to formally define it ourselves.
IN A NUTSHELL:
EOS is a blockchain-based, decentralized operating system, designed to support commercial-scale decentralized applications by providing all of the necessary core functionality, enabling businesses to build blockchain applications in a way similar to web-based applications.
EOS’s asynchronous communication and parallel processing provide scalability, while its ownership model eliminates transaction fees. These features make EOS a serious competitor of Ethereum (although EOS’s ICO actually supports Ethereum).
EOS uses delegated-proof-of-stake and introduces the ability to fix bugs and rollback changes with supermajority consensus.
The project is headed by blockchain VIPs.
20% of the EOS token supply were sold for about $185M in ETH over the first 5 days of the 341-day long token sale. (And 10% are reserved for block.one). The structure of the token sale is such that the remaining 70% (i.e., the majority) of EOS tokens will be produced and sold at market value.