Digital Assets > EOS
Last Updated: June 26, 2024
EOSIO is a blockchain protocol based on its native token EOS which powers the blockchain’s network. EOSIO provides the foundation for the EOS public blockchain and other blockchain networks to run decentralized applications (dApps).
The EOS public blockchain is an open network designed to accommodate developers with prioritizations for performance, security, and stability.
Background
The EOSIO protocol originated from a development effort led by Dan Larimer and Brendan Blumer of Block.one. It supports C++ based automated, self-executing agreements, known as smart contracts, that are capable of expressing business logic and facilitating a wide range of use cases.
Launch
Based on a whitepaper published in 2017, EOSIO open-source software was released on June 1, 2018 on the EOSIO mainnet.With the blockchain launch, a billion tokens were distributed as ERC-20 by Block.one.
How does it work?
The system uses a delegated proof of stake (PoS) approach, and staking EOS gives users ownership of these resources proportional to the amount of EOS locked up in smart contracts. Block producers are rewarded with EOS tokens for each block they add to a blockchain.
Smart contract audit
Sources and Resources
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