EOS

The EOS network was created in 2018 and an ICO was held to create it. The amount that was raised during the ICO is simply huge - 4 billion USD. At the same time, the ICO lasted an entire year. A total of 1 billion EOS coins may exist. They were all created at the same time, at the launch of the project. These coins are used not only for payments between participants of the EOS network. Also, EOS coins are used for voting for further development of the project and receiving dividends from new cryptocurrencies based on EOS blockchain.

The EOS network is not just a blockchain. It is also a decentralized operating system called EOSIO. It is designed to run dApps, web3 applications, and blockchain smart contracts. EOSIO can potentially scale to perform millions of transactions per second. Within EOSIO, databases, multiple account creation, and parallel execution on multiple CPUs are supported.

The EOS network relies on the EOS node system to validate transactions. The EOS algorithm is a kind of DpoS (Delegated Proof-of-Stake) algorithm. That means that EOS cannot be mined. Instead, EOS transactions are confirmed by EOS nodes. There are 21 EOS nodes in the EOS network and they are called validators. They are paid for confirming transactions.

The transaction time in the EOS network is within a few seconds. The transfer fee is not perceptible at all. To exclude collusion between EOS nodes, validators are selected each time in a new order by voting of EOS network participants. This technology also eliminates the creation of EOS network forks.

Web3 applications, dApps, and blockchain smart contracts on the EOS network use bandwidth, processing power, and database size in proportion to the number of EOS coins in their wallets. Thus, the problem of computing power accounting, which in other cryptocurrencies is solved by using gas, is solved. There is a virtual machine eosio.evm, thanks to which blockchain smart contracts written in Solidity are supported.

Developers on the EOS network first run their dApps, web3 applications, and blockchain smart contracts in the EOS testnet. It has different connection parameters to EOS nodes than the EOS mainnet. It lets you test applications without the risk of losing real money - because the coins in EOS testnet have no value. There's also an EOS API toolkit for developers who prefer to write dApps, web3 applications, and blockchain smart contracts in Python.

An EOS dedicated node is an EOS dedicated server that allows you to run dApps with speed and bandwidth you don't have to worry about. EOS dedicated nodes broadcast requests via an API, passing the information to other EOS nodes. EOS dedicated nodes are also used by developers as EOS archive blockchain nodes (EOS history blockchain nodes). Connection to EOS public node and connection to EOS private node have almost the same settings. Only the parameters of the EOS nodes that are connected differ.

To set up an EOS dedicated node, you need to download the EOS blockchain node software and install it on a powerful computer. A good solution is to use the EOS blockchain node as a service. It will save you a lot of hassle with complicated EOS blockchain node installation and setup. It is important to note that an EOS dedicated node is not necessarily a validator. For an EOS dedicated node to be eligible to validate transactions in the EOS network, it must first obtain the required number of votes from other users of the EOS network.