The EOS system has two main elements namely- EOS.IO and EOS tokens. The EOS token is the cryptocurrency of the network and EOS.IO is the blockchain architecture that is built to enable the scaling of the decentralized applications.
So, any developer who would like to develop an app or software on the network needs to hold EOS coins to be eligible to use the resources of EOS network. A token owner who is not running any apps can rent their bandwidth to other who need it.
Even though there are other major Blockchain networks such as Ethereum and TRON that allows and facilitates decentralized applications, the EOS has attempted to solve the existing issues in blockchain network such as speed, scalability and flexibility that often become a bottle neck for such blockchain based systems.
Since there is an increase in DApp ecosystem by passing days, there becomes a limited availability of resources on the networks. That includes problems like the network getting more constrained, spamming, low speeds, similar requests and limited computing power available across the network. To solve such issues, the EOS system offers more scalability, flexibility and usability with the help of its unique mechanism.
The platform has increased its efficiency by categorizing the modules involved in the working of DApps. Like, the authentication processes are carried out separately than the execution processes.
The EOS also uses the Proof Of Stake as well as permission concept that is role based which allows the flexibility to make instant high level decisions such as rollback, freezing, fixing bug of broken apps with the help of designated stakeholders. The developers of the platform are allowed to utilize the resources based in their stake than the standard pay per transaction model. This allows the app developers to predict the hosting costs easily.
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