EOS is fundamentally different for a few reasons. One is that it uses messaging, and not state. Which is to say you record the messages incoming and outgoing, and that's your commitment, that's what the blockchain does for you. Which means that the state is implied [from the messages]. This can be a little bit scary to people who believe in the state, but actually it's mostly equivalent from the theoretical point of view. The big difference is you can optimize messages much more than you can optimize state. We are already testing 50k transactions per second, and we know we can go higher. The same technology has been tested into the millions [transactions per second].
by Ian Grigg, block.one partner
The biggest challenge in the space is everyone, including the experts, has a lot to learn. There are so many different disciplines involved, everything from economics, to game theory, to software engineering, and there are so many different philosophies in play to all those things. A lot of ICOs are people who have maybe good intentions but they just don't have the experience of years of building those things, so they're repeating a lot of the same mistakes, or they're throwing tokens into things that don't need tokens, or they're making things decentralized that don't benefit from decentralization.
by Dan Larimer, CTO of block.one
EOS is an upcoming blockchain platform for building industrial-scale decentralized applications. It’s designed to be fast, scalable, flexible and above all, extremely usable.
EOS aims to allow you to build decentralized applications that are indistinguishable from centralized alternatives.
This might look like a modest statement, but actually it’s quite bold, especially when we realize that a lot of things we take for granted when creating conventional web apps, are not easily available in a decentralized environment.
The best way to describe EOS is to compare it with the concept of Ethereum. In Ethereum we have a bare-bone computer (called Ethereum Virtual Machine) and some apps trying to run on top of it.
Those apps have a tough job to do, because apart from some basic stuff, like the ability to send funds and maybe store some data, they need to take care of pretty much everything else.
And because everything is being implemented in the application layer, it’s being done within relatively inefficient scripting environment. Which makes it really hard.
Furthermore, even if some generic solutions eventually emerge as a result of these efforts, they will be expensive to use, as every single line of their code will incur a run-time cost in the form of gas payments.
Right, we need a blockchain operating system.
And this is what EOS is about. EOS is an operating system for running decentralized applications.
Actually, it’s both – it’s a computer and an operating system on top of it.
Generally, there are two ways of building a smart-contract platform.
The first option is this: you start with creating the whole thing, and then attempt to build some concrete apps on top of it. Most likely, reality will hit you hard when you try to make those apps actually useful. However, this is the prevailing approach in the crypto-space. Systems like Ethereum, Cardano, Neo or Lisk are being created using this approach.
Here’s an alternative: you start with building a couple of concrete, non-trivial apps, inevitably make some mistakes while doing this, learn from those mistakes, and, as a next step, figure out what’s common between your apps, and only then start building the abstraction layer.
The latter is how EOS was born. The team of developers behind EOS have already built some of the most successful blockchain apps in the crypto-space, and now they have set out to leverage their experience by building a general-purpose platform called EOS.
EOS features revolve around one purpose: to help you build and run a decentralized business.
Here’s how it’s possible.
EOS processing power makes your apps fast and scalable.
Built-in governance gives you a safety net in case things go seriously wrong, or if any disputes arise around your smart-contracts.
Built-in infrastructure saves you a lot of development work. It also reduces operating costs, as you can rely on features which are free to use.
Built-in asynchronous communication allows your app to interact with other apps across other blockchains – not just within one blockchain.
The absence of transaction fees gives you full flexibility about the way you can monetize your app.
Optional upgradeability means freedom of choice: you can make your app fully autonomous, or stay in control to constantly improve it and fix bugs.
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