EOS blockchain is a project of a scalable platform, without transaction fees, which will support decentralized applications (dApp) and will be built very easily to allow developers to develop these dApps.
The problem of the scalability of the blockchain
A blockchain to be used globally must be fast and Bitcoin's blockchain has proven not to be able to have a scalability big enough to support many transactions.
Even Ethereum, which is much faster, has seen its network clogged when the Crypto Kitties app was released. Ethereum manages to pass 15 transactions per second while Bitcoin only 7.
Litecoin's blockchain is faster (50 transactions per second), but Eos's blockchain is built to beat them all.
The scalability of Eos can reach up to 1 million transactions per second.
The problem of scalability is one of the main problems to be faced in the construction of a blockchain. It is the scalability that tells us if a blockchain can receive millions of transactions or less.
If all those who are building applications on Ethereum's blockchain, launch them and make them available to the public, the network will fail to support this number of transactions and will collapse.
Eos, unlike many blockchain, has enormous vertical and horizontal scalability, zero commissions and allows the construction of decentralized applications so it has all it takes to pose a real threat to Ethereum.
If we think that Facebook receives 52 thousand likes per second and Ethereum receives 15 transactions per second, it means that if FB wanted to use the blockchain only for its likes, this would be 3466 thousand times more efficient than this of Ethereum. Eos, with its million transactions per second, would be able to perform this task well.
Bitcoin's blockchain was the first and thanks to its success all the other developers have been able to develop their projects by taking what works from bitcoin and improving what does not work.
When Dan Larimer started building Eos, he focused on scalability. It was evident that the bitcoin, at the stage it was in, could not have supported the number of transactions that grew ever more and so Larimer wanted to overcome this problem.
The CTO of Eos also took something from the Ethereum blockchain.
The main characteristic of Ethereum is the possibility to create smart contracts and Larimer wanted to implement and improve this aspect.
Eos will use smart contracts that will be much more efficient than standard smart contracts.
The smart contracts of Eos
Blockchain technology is based on sequential transaction processing, which causes delays and can make technology inefficient.
Larimer has seen that vertical scalability is not enough to allow a blockchain to work without being congested and that it must also be horizontally scaled.
Eos blockchain can process a large number of transactions at the same time while still being able to serve other network commands such as running dApp and without creating a "tail" on the blockchain.
The main features of the Eos blockchain
The Eos blockchain will use a Delegated Proof of Stake (DPoS) consensus mechanism in which EOS token holders continually vote for block producers, which undermine the blocks and decide on the main events in the Eos ecosystem.
Blocks producers with 81% of the votes will be able to block accounts, update smart contracts and propose hard fork, but in case a producer will behave badly, it can be changed.
Blocks on the blockchain will be created every 3 seconds and exactly one manufacturer is allowed to produce a block at a given time. The time to confirm a transaction will be 1.5 seconds.
A unique feature of the Eos blockchain will be the ability to correct errors and restore changes with the consent of the absolute majority instead of needing a hard fork. Under normal conditions, a DPoS blockchain will not need to fork hard as the block makers will work cooperatively and not compete with each other as in the bitcoin-like Proof of Work blockchain. In the event that a hard fork occurs, the Eos blockchain will switch to the longest chain.
Companies that are going to develop applications on such a flexible blockchain will have the opportunity to improve their applications at any time.
Transactions on Eos do not involve commissions. Eos tokens will be indispensable for application developers to make operational dApps on the blockchain and will also be necessary for accounts that register new users of these applications. The cost of financing the new user account will be insignificant compared to what companies spend today on advertising and promotion to buy users.
The ICO of Eos
EOS tokens are used to raise funds during the ICO, whose duration is 11 months. The ICO began on 27 June 2017 and ends on 1 June 2018.
Source: qubithacker.com/la-blockchain-eos-rivale-principale-di-ethereum/