EOS is a essentially a mix between Ethereum and Steem, Created by Dan Larimer who also created Bitshares and Steem, EOS will allow for smart online contracts, like Ethereum, However EOS is implementing this in a much more user friendly way. EOS will end it's ICO on June 26th, if you bought EOS from their site then you have nothing to worry about,however, if you bought your EOS tokens via an exchange or from someone else, you need to have your coins verified by June 1st other wise you will loose your coins!The following links will help you get your coins verified. If you have EOS in an Exodus wallet click here If you have EOS in a ledger or on myetherwallet click here
Decentralised Operating System
EOS is a decentralised operating system, much like Ethereum. What this means is you can build applications on top of it. Unlike Ethereum where you need to pay in ether to run a smart online contract, You do not need to pay for anything in EOS, but all developers must have some EOS in order to publish their applications onto the EOS blockchain.
EOS has a 5% inflation rate, This will in-fact decrease over time, But it will never reach 0%, the reason for this is to simply keep the network growing.
An interesting thing about EOS is they claim that they will be able to do millions of transactions a second, putting them up their with VISA. If this is true EOS could be one of the biggest cryptocurrencies to date. As of right now, the leaders in the crypto space such as Bitcoin and Ethereum cannot even nearly match that with Bitcoin doing about 3-4 transactions a second and Ethereum doing about 7. On top of this EOS are saying any transaction you do with EOS will be 100% free of any transaction costs.
On top of all of these features EOS will also be a currency platform, Allowing for everyday people to buy things with the tokens, Much like Bitcoin cash. With the free transaction fees this will be an appealing coin for many to use as a medium of exchange.
If you would like to read more on the technical side of things here is the EOS white paper.