EOS is a crypto token and blockchain which facilitates smart contracts for the use of dApps, or decentralized applications. Scheduled for a full launch in June 2018, the recent ICO raised $700 million – the highest ICO offering of all time.
Plans for EOS were outlined in a white paper published in 2017 by block.one, a private development company. CEO of block.one, Brendan Blumer, aims to make EOS the main decentralized, open-source blockchain operating system by supporting huge-scale apps, exorcising transaction fees, and conducting literally millions of transactions per second.
While the Ethereum network doesn’t provide any specialized platform tools for digital applications, the EOS network comes with an in-built user interface, and provides many of the tools needed for application developers and users. The EOS token buys bandwidth and storage on the network.
The EOS operating system, EOSIO, aims to address the scalability concerns of Bitcoin and Ethereum by being able to run on multiple computer cores (multi-threading), and eliminating transaction fees for all users.