EOSIO is a blockchain designed to facilitate the operation of a special type of program called a decentralized application (Dapp).
Its technology tries to solve the historical problems of using blockchains to run Dapps as popular applications clogged even capacity in larger, more advanced blockchains like Ethereum (ETH), causing performance issues for all users.
One of the many new blockchains that have prioritized dapp performance, EOSIO has made design choices to confirm more transactions per second while eliminating user fees for making transactions.
However, there are other significant differences that set it apart from competing blockchains.
First, EOSIO developers can build Daaps applications using WebAssembly languages such as C ++, Java, and Python, as opposed to the new project-specific programming language.
In addition, in EOSIO, software updates are decided by voting in the EOS system. EOS is the native cryptocurrency on EOSIO and is needed to cover the cost of running its blockchain.
EOSIO is arguably best known for having the largest initial coin offering (ICO) ever, reaping over $ 4 billion in sales of 1 billion EOS over a year of sales.