Launched as open-source software in June 2018, EOS is a blockchain platform founded by a private company, Block.one. It is designed for the development of dApps (Decentralized applications). The company distributed one billion ERC-20 tokens to ensure widespread distribution of their cryptocurrency and allow anyone to use EOS blockchain after it was released. The goal of the platform is to offer decentralized application’s hosting, decentralized storage of enterprise solutions and smart contract capability, solving the scalability issues of Ethereum and Bitcoin. Also, it eliminates the fees for all users, i.e., no one needs to pay to avail the benefits of a dApp based on EOS.


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