EOS is a blockchain network that was created to support smart contracts and decentralized applications (dApps). It focuses on scalability, transaction speed and requires no transaction fees. The network uses a form of Proof of Stake protocol, with the native coin called EOS. The coin is mostly used for network governance and funding further development. It was originally published by Block.one, and it's CTO Dan Larmier, who also founded Steem and BitShares. The main idea behind EOS was to create a product capable of handling thousands of transactions per second while working without direct fees. Block.one had an EOS coin sale in June 2017, selling more than 200 million coins. Additionally, over the next year, 2 million coins were sold each day. A total of 900 million coins were sold for around $4.2 billion. The last 100 million were kept by Block.one, as development funding, linearly released for 10 years after the mainnet went live on June 6, 2019.