EOSIO (EOS) is a blockchain which aims at facilitating Decentralized Applications (or DApps) while solving issues in using blockchains to run them. As Decentralized Applications usage grows, blockchain capacity sees itself becoming more clogged and, consequently, all users experience performance issues.

EOSIO prioritizes DApps performance on the back of having more transaction confirmations per second and having eliminated transaction fees for its users.

EOSIO also made possible for its programmers to develop Decentralized Apps with WebAssembly languages (C++, Python, Java, etc.) instead of having a single standard project-specific language.

Software updates are voted upon by using EOS, EOSIO’s native cryptocurrency. Its roadmap’s status is constantly being updated on their official page. EOSIO initial coin offering (ICO) raised over $4 billion USD.

The Inner Workings of EOSIO

EOSIO’s blockchain functions very similarly to a computer and it is powered by three types of resources:

· Bandwith: which works as the disk and relays information across the entire network

· Computation: which works as the CPU and harnesses processing power used to run Decentralized Applications

· State Storage: which works as the RAM and is used for data storage on the blockchain

All three of these can be purchased with EOS which basically means that developers need to have EOS in order to launch their DApps. Every Decentralized Application which is built on EOSIO does not required its users to pay for their transactions, however, the DApp’s developers must pay for network resources.

Delegated Proof-of-Stake (DPoS)

Delegated Proof-of-Stake is the system which secures EOSIO’s blockchain by using real-time voting and employing a reputation system in which decisions are made about who is allowed to create the next block.

Consequently, the more EOS one owns, the higher the likeliness is that he is chosen by the software as each token can be “staked” (or locked) as to represent a vote in supporting certain developments.

EOSIO’s Governance

EOSIO allows for its users to vote and carry out decisions concerning their very own software’s rules and even the “EOS Constitution”, EOSIO’s governing document which comprises all of its rules.

EOS owners vote on decisions and, for the ones which are approved, block producers will then be the ones responsible in carrying them out.

EOSIO was developed by Block.One, a private company founded in 2017 by Brenden Blumer and Dan Larimer.

Dan Larimer is known for having architected the first decentralized exchange, the first crypto social media network, being the lead architect behind EOSIO and creating the DPoS consensus mechanism.