EOS is a cryptocurrency and the native token of the EOS.IO blockchain platform, which was created to support scalable, user-friendly decentralized applications (dApps).
Key Features of the EOS Token:
Utility Token: EOS is used to pay for network resources like bandwidth, storage, and computation needed to run smart contracts and dApps on the EOS.IO blockchain.
Staking and Governance: Users can stake EOS tokens to vote for Block Producers (BPs)—the entities responsible for validating transactions and securing the network in its Delegated Proof of Stake (DPoS) consensus model.
Zero Transaction Fees: Unlike Ethereum, EOS aims to eliminate direct transaction fees by using a resource allocation model based on staking.
Governance Role: EOS holders have voting power in network governance, including protocol upgrades and community proposals.
