EOS.IO is a blockchain protocol powered by the native cryptocurrency EOS.
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The EOS.IO platform was developed in 2017-2018 by the private company block.one and released as open-source software on June 1, 2018. One billion tokens were distributed as ERC-20 tokens by block.one before the release of the blockchain.
EOS is designed to create, host, and support decentralized autonomous applications (dApps). dApps can be commercial or individual centric. They work like web-based apps. It is possible to use the EOS platform for developing, hosting and using the dApps, like providing secure access and authentication, permissioning, data hosting, usage management, and communication between the dApps and the Internet. It claims to be highly efficient through the use of parallel execution and asynchronous communication methodology across the network and also by separating the various modules involved in the working of dApps.
- 200 million (20%) of tokens were initially distributed during a five day period from June 26, 2016 to July 1, 2017.
- 700 million (70%) of tokens were distributed on an ongoing basis of 2 million during 350 days in 2017/2018.
- 100 million (10%) are being held in escrow for block.one to keep their incentives in line with that of the EOS community. Block.one's tokens will vest over a 10-year period at 10 million tokens a year.