EOS is a blockchain-based decentralized operating system, which was developed to provide an opportunity to create and develop blockchain applications, providing all the necessary functions and technologies.
Scalability is ensured (millions of transactions per second), and its ownership model eliminates transaction fees, which makes it a serious competitor to Ethereum. This means that users are entitled to use resources based on their ownership stake, rather than paying separately for each transaction.
It uses a proof-of-stake algorithm, where the creator of the new block is randomly selected depending on his wealth, i.e. the higher % he has, the more chance he has to create a new block.
The system's own token is EOS, the ownership of which is very important since if a developer wants to use the EOS blockchain, he must have EOS coins.