What is EOS?

EOS is a scalable smart contracts platform built to provide the infrastructure for a new generation of decentralized applications (Dapps). Originally developed and released by Block.one, and primarily the brainchild of Dan Larimer, EOS concluded one of the most successful ICOs in history -- raising roughly $4.2 billion in a one-year extended sale that ended on June 1st, 2018.

 

How does EOS work?

EOS was initially created to solve current market problems: complicated processes of dApp (Decentralized Application) developments, low scalability, fees, and transaction limitations.

EOS runs as a vast virtual machine with RAM, CPU, GPU, and memory that provided by nodes. When developers run decentralized application they need to buy enough space and computing powers in EOS. In other words, they exchange EOS to resources provided by the platform. You can know more about it in our article: How To Create EOS Account.

One of the major innovations in EOS is horizontal scalability. The system can handle parallel execution of smart contracts and simultaneous transaction processing. Millions of transactions per second can be executed by the system.

EOS is developers friendly. The system can run plenty of programming languages for dApps, supports web toolkit for interface development, self-describing interfaces, database schemas, and a declarative permission scheme.

 

Where can I store my EOS?

You can store EOS and other crypto assets in a non-custodial imToken Wallet.