I’ve mentioned this before, but Dan Larimer’s involvement in this project is one of the main things that makes this awesome. This coin operates on a delegated proof of stake.
What is that? Check this out — https://steemit.com/cryptocurrency/@x9films/block-review-or-eos-and-delegated-proof-of-stake
I’m not exactly sure, from a technical standpoint, how EOS is functioning with their delegated proof of stake, but to give you the simple overview — instead of other ‘proofs’ that these coins use where the blockmaker is elected through an automated process of some sort, delegated proof of stake allows for direct input from the stakeholders (node holders most likely) on who will be the delegated individuals responsible for upkeep on the blockchain. If any one of those gatekeepers conducts themselves in a malicious manner, then the nodes can vote to have them removed and replaced.
Not sure how often this happens, if ever.
The primary issue with delegated proof of stake is that there is an inherent risk that a lack of decentralization among the stakeholders will allow collusion to be more than possible. There is also no additional insurance that the delegates will continue to act ‘honestly’. Take that for what you will — the coin is worth quite a lot at this point and it hasn’t been compromised yet.
EOS is another decentralized app development coin like Ethereum — thus, there will always be the battle of EOS vs. Ethereum and ETH is already a monster in the market and a firm top coin and it doesn’t seem like that’ll be changing in the near future.
If you want more of an overview on the coin itself, visit — https://steemit.com/crypto-news/@champagnecrypto/what-is-eos-coin-should-you-buy
Here’s the official EOS website — https://eos.io/