EOS is the native cryptocurrency for the EOS.IO blockchain platform with intelligent contract functions. Block.one created EOS.IO in September 2017 and now has 100 dapps with thousands of daily active users. This allows software developers to create decentralized apps or dapps. The platform is more scalable than many other blockchain networks and can process a million transactions per second with no fees. Due to its Dapp development capability, EOS is similar to Ethereum with the notable difference that transaction confirmations are made through a different consensus system. Block producers are selected by the EOS ecosystem through a voting mechanism called Delegated Proof-of-Stake (DPoS). In order to vote, users must use tokens for three days without selling them. This runs the risk of losing money if the price of the token falls during this time. There is no maximum delivery limit for EOS tokens. The delegated proof-of-stake model uses inflation of no more than 5% per year to fund transactions and pay block users.
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