We outline the difference between EOS the cryptocurrency and EOSIO the open-source operating system.
EOS and EOSIO, though somewhat confusing are entirely 2 distinct entities that can not work without each other.
A clear differentiation needs to be made, with the difference ultimately boiling down to their functionality.
While one serves as an operating system, the other serves as a currency for transactions and storage of value on the chain.
This section of our EOS guide compares the difference between EOS the cryptocurrency and EOSIO the open-source operating system.
EOS - The cryptocurrency
EOS is the main blockchain and cryptocurrency deployed using the EOSIO operating system.
While it might seem alone in its category, it is actually one of 12 other deployed public and private chains.
EOS utilises a DPOS consensus, with 21 major block producers in a group of 30 producers.
Using this consensus mechanism, the EOS community is able to run its activities solo.
Although Block.one controls EOSIO and has the majority of tokens on the EOS blockchain.
EOS has certain features as stated on their contract permitting the blockchain to create several accounts under one account.
Each user is also permitted under the contract to have 2 permissions:
- Active
- Owner
These are somewhat similar to the Active and Owner keys we have on the Hive Blockchain.
The Active permission controls transactions and the movement of tokens, while the Owner permission is used to change the Active permission in case of a security breach or compromise.
The 21 block producers are permitted to have all transaction fees waved and are paid yearly through a 1% inflation of the token that's shared among them.
The other blockchains built using EOSIO have similar but somewhat different features.
EOSIO - The open-source operating system
EOSIO is the operating system behind EOS and other associated blockchains.
It creates an avenue for blockchains to be created and easily customisable on the terms of the blockchain community and system contract.
The different blockchains may have their issues, however, these issues may not in hindsight be connected to EOSIO in any way.
There are major characteristics that all blockchains built on the EOSIO operating system possess.
Characteristics such as:
- Scalability
- 12 character human names
- Flexibility
- Contract upgradability
- Transparency
- HTTP support
- Keys
- Resource allocation
- Block consensus
- Block producer rewards.
All blockchains created on the EOSIO OS, including EOS itself, share the above characteristics.
Final thoughts on EOS and EOSIO
EOSIO is currently owned and maintained by Block.one.
It possesses system contracts that permit the creation of blockchains with different use cases and EOS is one of those blockchains created on the system.
EOS is also one of the first blockchains created from the first version of EOSIO which means it has some unique properties and at this point, is highly customised by its users.
Other public blockchains built on EOSIO are:
- WAX: Built for making easy and fast e-commerce transactions.
- Ultra: Built for blockchain gaming.
- Lynxxchain: A simplified user experience of the blockchain.
- BOSCore: Built for businesses and industry.
- Europchain: A blockchain designed for European regulations like GDPR.
- Voice: Built to power the Block.one social network.
- Telos: Built for decentralised applications.
- Wordli: Built for regulatory compliance like KYC.
- Liberland: Built for the citizens of the Liberal Republic.
- Eosfinix: A blockchain that powers the Eosfinix cryptocurrency exchange.
The other blockchains built on EOSIO are private, therefore their details are undisclosed.
Ultimately, anyone can deploy their blockchain community on the EOSIO operating system.
Best of probabilities to you.
Direct from the desk of Dane Williams.
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