EOS is a blockchain operating system that enables decentralized applications to scale horizontally and vertically, allowing developers to build high-performance distributed applications.
Horizontal scaling means adding or removing databases to adjust capacity and overall performance. Vertical scaling means increasing or decreasing the transaction size of the database.
The resulting technology; It is a blockchain architecture capable of performing millions of transactions per second, eliminating user fees, and allowing decentralized applications to be run quickly and easily.
The letters O and S in EOS are equivalent to the "operating system" in English, which is the project developer Daniel Larimer. "What does the letter E mean?" I started thinking about and researching. The reason I did this is to have access to tips to help us better understand the project.
After surfing a bit on the internet, I came across definitions such as “Ethereum Operating System (because it was on Ethereum network until 2018), Corporate Operating System, World Operating System, and Economy Operating System”. It is obvious that they describe the project.
The EOS project included the following in the Frequently Asked Questions section of their website:
“We believe that EOS means different things to different people. We received countless surprising comments about what EOS represents or what it should represent, so we decided not to officially define it ourselves. ”
This part has been removed from the site. This is a very interesting situation.
When I wrote EOS in the dictionary, I saw that it meant "Goddess of Dawn" in Greek mythology. According to this, EOS was leaving home every morning to bring light to mortals and immortals.
The other data to support this idea was chosen as the "Dawn" names of EOS's testnets and mainnets. Dawn means "dawn" in English. Could it be a coincidence?
If these findings are correct, we can say that EOS aims to be a project that will enlighten everyone who meets blockchain technology and wants to use it with its light, that is, it will provide integration and ease of use with the elements included in the system. I found this philosophical background reasonable.
Behind the EOS project is Block.one, and this team broke an all-time record by collecting $ 4 billion in EOS ICO. Collecting very big amount but what brings to use for real-life till now? This is major concern for me.
Daniel Larimer is at the head of this company and defines Block.one as “the publisher of open-source software as well as decentralized applications” and states that these applications can be built on EOS.
The company seeks to build a new generation internet with EOS. Blockchain is a massively scalable and secure data transfer location. All trade and communication will be restructured and rebuilt on these new data transfer tracks.
Daniel and his colleagues have identified a gap between the needs of large-scale enterprise businesses - in terms of performance - and the solutions they expect from blockchain platforms, and created EOS to address these problems: high level of scalability, speed and high performance regardless of the number of users.
EOS supports all the basic functions required to allow businesses and individuals to create blockchain-based applications, similar to web-based applications.
Secure access, authentication, systems that require permission, storing data on a stable and accessible web platform, and providing communication between decentralized applications and the internet…
EOS has a structure that works similarly to the Google Play Store and Apple App Store, and we can say that it is very useful.
The project has the same name and tradable EOS token. In order to use the applications on the platform, customers must have EOS in their hands. This is a positive situation in terms of the price of EOS token.
As in EOS project Tezos, Deligated Proof of Stake consensus algorithm is used. In fact, we would be surprised if this was not the case, because the inventor of this algorithm is Daniel, who is behind EOS and Block.one. Daniel is also the founder of BitShares and Steem platforms. It's a very important name.
As a result, EOS and Ethereum projects are smart contracts and decentralized application development platforms. EOS seems to be advantageous in terms of scalability, speed, zero transaction fee, consensus mechanism. We will see if these will gain an advantage over Etherum. Of course, the users will make the final decision.
For me, I avoid touching EOS. If an ICO collected nearly 4 billion USD worth, I expect that they provide similar worth significant apps for real-life use in an acceptable timeline.
