EOS is a blockchain-based platform designed to support the development of decentralized applications (DApps).
Launched in June 2017, EOS was developed by Block.one, a company founded by Dan Larimer and Brendan Blumer. Dan Larimer is a well-known figure in the blockchain space, having previously led successful projects like BitShares and Steem.
Often dubbed the "Ethereum Killer," EOS aims to address Ethereum's shortcomings by offering better scalability and usability.
Key Features of EOS
- Delegated Proof of Stake (DPoS) Consensus Mechanism
EOS uses a Delegated Proof of Stake (DPoS) system, which is more energy-efficient than traditional Proof of Work (PoW) and enables faster transaction processing. In DPoS, token holders vote to elect Block Producers (BPs) who are responsible for creating and validating blocks on the network. While this method has been criticized for potential centralization, it provides significant advantages in scalability and speed. - High Scalability and Transaction Speed
EOS is designed to handle millions of transactions per second (TPS), a stark contrast to Ethereum's 15–30 TPS. This makes it well-suited for large-scale DApps. Additionally, EOS supports horizontal scaling, allowing the network to add resources as traffic increases. - Fee-Free User Experience
Unlike Ethereum, EOS does not charge transaction fees to users. Instead, developers must purchase or rent network resources (such as bandwidth and storage) using EOS tokens. This structure aims to improve user experience and promote the adoption of DApps. - Governance System
EOS features a governance system that allows token holders to participate directly in network operations. They can vote for Block Producers and propose network amendments. However, this system has faced criticism for potentially concentrating power in the hands of a few large token holders. - Optimized for DApp Development
EOS provides developers with a range of tools and educational resources to simplify DApp development and deployment. It also supports enterprise-grade solutions, including security, authentication, data hosting, and user management, facilitating integration between DApps and traditional internet applications.
History and Current Status of EOS
- 2017: ICO and Launch
EOS conducted a year-long Initial Coin Offering (ICO) from June 2017 to June 2018, raising approximately $4.1 billion—one of the most successful ICOs in history. Initially, EOS tokens were distributed as ERC-20 tokens on the Ethereum network before transitioning to its own mainnet. - 2018: Mainnet Launch
In June 2018, EOS officially launched its mainnet, becoming an independent blockchain. However, the early days were marked by challenges, including low voter turnout for Block Producer elections and concerns over centralization. - 2021: Separation from Block.one
In August 2021, the EOS community severed ties with Block.one and established the EOS Network Foundation (ENF). This move came after criticism of Block.one's lack of commitment to network development, shifting operations to a community-led model. The ENF now supports the network's growth and decentralization efforts. - 2022: Mandel Upgrade
In 2022, the Mandel 3.0 upgrade was implemented—the first major upgrade led by the community without Block.one's involvement, symbolizing the network's independence. The upgrade timeline was as follows:- January 31, 2022: Mandel 3.0 Release Candidate (RC) announced
- March 1, 2022: Mandel 3.0 final release
- May 19, 2022: Hard fork activation
- 2025: Current Status
As of April 2, 2025, the price of EOS is approximately 849.29 KRW (South Korean Won), with a 24-hour trading volume of around 277.2 billion KRW. Its market capitalization is about 1.32 trillion KRW, ranking it 72nd on CoinMarketCap. The circulating supply is approximately 1.56 billion EOS, with a maximum supply capped at 2.1 billion EOS. Over the past 24 hours, the price has risen by 1.55%, and over the last 7 days, it has surged by 33.1%, showing bullish momentum.
Advantages and Disadvantages of EOS
Advantages
- High Scalability: Capable of processing millions of transactions per second, ideal for large-scale DApps.
- Fee-Free User Experience: A user-friendly structure that promotes DApp adoption.
- Developer Support: Offers extensive tools and resources for DApp development.
Disadvantages
- Centralization Concerns: The DPoS system and concentration of power among a few Block Producers have drawn criticism.
- Conflict with Block.one: Early tensions between the community and the original developer damaged trust.
- Intense Competition: EOS faces challenges from newer Layer 1 blockchains like Solana and Polkadot, which may outpace it.
Future Outlook for EOS
EOS was once hailed as an "Ethereum Killer" and garnered significant attention, but centralization concerns and Block.one's lack of engagement led to a decline in its early popularity. Since the community took over in 2021, EOS has shown signs of revival. In 2025, there is growing interest in EOS, particularly in the context of AI-related projects. For instance, some users on X have speculated that EOS could emerge as a "hidden winner" in the AI supremacy race between the U.S. and China, potentially playing a role in AI token ecosystems.
However, for EOS to reclaim its former glory, it must attract more developers and projects while rebuilding trust in its decentralization efforts. Additionally, it needs to offer differentiated value in the highly competitive blockchain market to stay relevant.
Additional Information
- Where to Buy: EOS is available on over 90 exchanges, including Binance, Coinbase, Kraken, Upbit, and Bithumb.
- All-Time High and Low: EOS reached an all-time high of approximately $20.55 USD in 2018 and an all-time low of $0.48 USD in 2017.
- Community and Development Updates: The latest news on the EOS Network Foundation (ENF) can be found on the official website (eosnetwork.com) or GitHub (github.com/eosio).
