Block.one a blockchain incubation and investment firm introduced EOS for the first time in 2017. EOS is the native digital currency of the EOS platform, which supports the EOSIO blockchain platform. The EOS released in 2018 as open-source software, as outlined in the EOS white paper.
EOS as a blockchain-based platform allows the development of business applications or DApps. EOS supports secure access and authentication, data hosting, permissioning, usage management, and communication between the DApps and the Internet.
EOS had gained popularity over the years in day trading. EOS's scalability and support for thousands of commercial applications helped see the value and price of EOS cryptocurrency steadily rise.
In February 2022, EOS Community announced to weigh legal action against Block.one seeking $4.1B (USD). The EOS community has enlisted a Canadian law firm tο investigate Block.one's actiοns tο determine whether optiοns are available for legal proceedings.