What is EOS?
EOS is a blockchain and smart contract platform designed to compete with blockchains like Ethereum. It was designed with many features already built-in, allowing developers to make dapps more easily and in a standardised manner. It's engineered to scale to millions of transactions per second, with new blocks created every 0.5 seconds. EOS uses a delegated proof-of-stake (DPoS) consensus mechanism that allows EOS coin holders to select 21 block producers who approve transactions. The EOS coin is used for payments, governance and staking.