EOS.IO is an open-source platform that's designed to enable developers to construct decentralised appsThe increase of cryptocurrency over the past 2 years has actually been undoubtedly impressive.

Yet, the variety of people entering the marketplace or trading in cryptocurrencies is revealing no signs of fatigue.

Today, there are more than 16,000 virtual coins traded, which are based upon numerous blockchain networks, according to CoinMarketCap, a marketing research company.

EOS, which represents Electro-Optical System, is simply one of them.

Introduced in June 2018, the blockchain rapidly picked up steam and attracted the attention of investors and developers alike.

At one time, it was even thought about an Etherum killer .

What is EOS?The EOS.IO is an open-source platform that's created to enable designers to construct decentralised apps, also known as dApps.

The cryptocurrency that obtains the network is called EOS.

A year before its launch, the whitepaper for its software application was launched.

The project's goal is to make it simple for developers to accept blockchain technology.

It intends to attain that by guaranteeing its network is simpler to utilize than rivals.

The other factor that identifies EOS from competitors is scalability.

While most of its competitors can less than manage a dozen deals per second, EOS promises to be method ahead of them.Who are its founders?The platform was released by Block.one, a software application business specialising in blockchain innovations, and was founded in 2016.

Block.one executives Daniel Larimer (CTO) and Brendan Blumer (CEO) authorised the EOS whitepaper.

One of Blumer's very first businesses was offering virtual video game elements.

Larimer has actually also introduced a variety of cryptocurrency jobs, consisting of the BitShares trading platform and the Steem blockchain.Why is EOS different?The business declares that it has the capacity to handle the requirements of at least numerous dApps.

EOS crypto tokens are also produced and earned in an unique method compared to Bitcoin mining.

Users develop the needed quantity of blocks and are rewarded with fresh EOS coins for each block they produce.

The EOS blockchain is typically considered a major and direct competitor to the Ethereum blockchain.There are more than 936 million EOS coins in circulation today with an overall supply of 1.02 billion coins.

Block.one started a preliminary coin offering for EOS in June 2017 and it lasted for a year.

A total of $4.02 billion was raised