EOS aims to be the “operating system” on which other blockchains can more easily be built. You can think about it like a current computer program is written to talk to Windows OS or iOS instead of the actual hardware. The CEO Dan Larimer previously founded Steem and BitShares, two cryptos with market caps in the 100s of millions of dollars. Dan compares EOS to his previous two projects by saying that EOS allows these kind of Dapps to be made easily and interoperate, much like programs on an operating system. Unfortunately many of the technical details surrounding his products have been misleading and The ICO, which is ongoing, has aroused a lot of suspicion due to its structure and legal disclaimers. However due to the consensus method being PoS Dan claims it is necessary to avoid any one person owning too much of the total supply. Given that it doesn’t have a functional product yet it is fair to say the price is speculative.
Consensus Method dPoS
Intended Use An “operating system” for blockchains.
- Suspicious ICO format
- No working product yet
- Very convoluted and difficult to understand
- high bandwidth
- 1.5s confirmation time
- Many other technical advantages (claims with nothing to back it up yet)