EOS background
Summary
EOS.IO software introduces a new blockchain architecture, which aims to achieve performance expansion of decentralized applications. By creating an operating system-like structure, various applications can be built on this basis. The software provides accounts, authentication, database, asynchronous communication, and scheduling of programs on hundreds of CPUs or clusters. The final form of the technology is to form a blockchain architecture system that can support millions of transactions per second, waive user fees, and allow rapid and convenient release of decentralized applications in the context of a controlled blockchain .
Note: The encryption token mentioned in this white paper refers to the EOS token in the EOS.IO software, not the EOS token in Ethereum.
- Background
With the release of Bitcoin, blockchain technology emerged in 2008. Since then, entrepreneurs and developers have been working hard to promote the technology in order to support a wider range of applications on a single blockchain platform.
Although several blockchain platforms have been working hard to support the application of decentralized functions, such as BitShares (decentralized exchange, 2014) and Steem (social media platform, 2016) have become a large number of thousands of daily active users. The blockchain used. The realization of this achievement stems from increasing the transaction processing capacity to thousands of transactions per second, thereby reducing the delay to 1.5 seconds, canceling each transaction fee, and providing a user experience similar to that provided by existing centralized services.
Existing blockchain platforms suffer from high costs and limited computing power, making it difficult to be widely adopted.