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EOS is an Ethereum like blockchain technology, created by Dan Larrimer. Creator of Steem and BitShares. EOS is similar to a decentralised operating system, in practice this means that developers can build applications on EOS. Owning EOS coins is a claim on server resources. A developer needs to have EOS coins to use the EOS blockchain. The current model allows for a 5% inflation, this will be used to develop the network further. Now EOS tokens are ERC-20 compatible tokens distributed on the Ethereum blockchain.