EOS is a decentralized platform based on blockchain technology. It is designed to support decentralized applications (dapps) similar to Ethereum in its core functionalities.
The aim of EOS is to build a blockchain platform that can process thousands of transactions per second without on-chain transaction costs. Blocks are produced by Block Producers, similar to a miner on Ethereum. When they produce blocks, they are paid by the EOS blockchain itself, removing the fees from the user. The EOS token has a built-in inflation-rate which helps maintain the ecosystem.
On the EOS Blockchain, two blocks are produced every second. Only one block producer is guaranteed to create a block at any given point in time. In order to ensure the network is performing at an optimal rate, a block producer that doesn't produce a block within a predefined time slot is temporarily removed from the network.