EOS is an open source, decentralized blockchain network that runs on Delegated Proof-of-Stake (DPoS) consensus algorithm. Launched in June 2018, EOS introduces its system architecture called EOS.IO. The system is somewhat like an operating system inside a computer, which controls the EOS blockchain network.
EOS aims to improve users experience by delivering a high level of scalability and security to the network, at the same time creating familiarity for its clients. EOS supports smart contracts and industrial-scale decentralized applications (Dapps). EOS claims that they are able to handle millions of transactions per second and thousands of Dapps built on the network.
EOS token is an ERC-20 token that allows give holders voting right for issues such as selecting block producers and protocol upgrade. It is also used as a reward for block producers whenever they create a new block.