EOS (EOS)

EOS is a public Layer 1 blockchain and cryptocurrency originally developed by Block.one and launched in June 2018 following one of the largest token sales in history, which raised approximately $4 billion over a year-long crowdfund. The network uses Delegated Proof-of-Stake (DPoS) consensus, in which EOS token holders vote for 21 block producers who validate transactions and manage network governance. In 2021, the EOS Network Foundation (ENF) was established after the community separated from Block.one to take independent control of development, funding, and ecosystem growth.

Since the ENF assumed stewardship, EOS has undergone a significant technical transformation. The core software was migrated from the EOSIO client maintained by Block.one to a community-maintained implementation called Leap. The network launched EOS EVM, an Ethereum Virtual Machine-compatible execution layer that allows Solidity developers to deploy Ethereum-compatible smart contracts on EOS infrastructure while benefiting from its speed and low transaction costs. EOS processes transactions with sub-second finality and is capable of handling thousands of transactions per second, making it suitable for demanding decentralized applications. The chain has also introduced simplified staking mechanics to lower the barrier to entry for users and developers.

The EOS token powers the ecosystem as both a resource-staking asset and a governance instrument. Holders stake EOS to access CPU and NET bandwidth for executing transactions, and participate in voting for block producers who set protocol direction. The maximum supply is capped at 2.1 billion EOS following a governance vote, with approximately 1.15 billion currently in circulation. New tokens are issued continuously as block producer rewards under an inflationary model. The genesis date of the project is July 1, 2017, and the mainnet launched on June 10, 2018. EOS is actively traded on major global cryptocurrency exchanges and remains one of the longer-established smart contract platforms in the industry.