EOS is a platform designed to enable developers to build decentralized applications (DApps). Its blockchain uses the Delegated Proof of Stake (DPoS) mechanism, and the EOS token is the native token of the EOS ecosystem. It was issued in June 2017, with a total supply cap of 1 billion tokens.
The project aims to make blockchain technology as easy to adopt as possible for developers, ensuring the network is more user-friendly than other competing platforms. To support developers who want to quickly build practical applications, the platform provides various tools and a series of tutorials.
EOS consists of two components: the EOS token and the project's mainnet blockchain, EOSIO. The EOS token is used to access the network's CPU, RAM, and bandwidth. The token has an unlimited supply with an inflation rate of 1%, which is used to reward new block producers. Developers hold EOS tokens to create and run DApps, while non-developers can share bandwidth with other users, but they need to pay for it.
Source: CoinMarketCap