EOS is one of the most popular blockchain-based ecosystems hosting DApps, smart contracts, etc. The company held one of the longest ICO campaigns in history. It lasted for almost a year.
One of the selling points of EOS is the potential to develop a near to infinite scalability and cheapness. So far such scalability is yet to be achieved. The transaction fees can be reduced to zero through staking EOS.
The platform utilizes an unusual governance type called Delegated Proof of Stake. It means that the EOS token holders (stakeholders) can participate in voting choosing 21 network validators known as block producers. All the candidates are known and public. They are supposed to do their best to stay attractive for voters and can be not elected in the next election if they don't do their work well enough for the entire EOS community. The elections happen several times a day so it's considered that it is not an easy task for bad validators to preserve the position among 21 block producers.
The project was launched in the summer of 2017 by the Block.one company.
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