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EOS is a blockchain platform with the use of the delegated proof-of-stake (DPOS). Whilst the open source software is developed by the Cayman Islands registered Block.one Company, the actual blockchain launch is carried out by volunteer block producer candidates. At the moment, the project is going through the ICO stadium that will be completed in 2018. The project’s chief developer is Dan Larimer. EOS ICO start date: 2017-06-26
EOS coin is a cryptocurrency that introduces a blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications
EOS Blockchain Platform Review
EOS provides accounts, authentication, databases, asynchronous communication and the scheduling of applications across multiple CPU cores and/or clusters. The resulting technology is a blockchain architecture that has the potential to scale to millions of transactions per second, eliminates user fees and allows for quick and easy deployment of decentralized applications.
The project’s White Paper announces new EOS blockchain architecture intended for vertical and horizontal scaling of decentralized apps. It is planned to implement the platform on the analogy of an operating system, on which the apps can be created. The software suggests login accounts, authentication, databases, asynchronous connection, and planning of apps on hundreds of cores or clusters of CPUs. As a result, a blockchain shall be created, which can be scaled to millions of transactions per second and allow expanding decentralized apps quickly and easily.
More information in the project whitepaper: https://github.com/EOSIO/Documentation/blob/master/TechnicalWhitePaper.md
Dan Larimer, a developer of many popular cryptocurrency projects, first published the whitepaper of EOS blockchain protocol in 2017. Currently, Dan is the Chief Technical Director of the project. He based his creation of EOS on two his other projects – Steemit and BitShares.
Actually, the creator of EOS is Block.one. The platform code is freely available on Github. Community members are free to send pull requests, but the last word rests with Block.one.
Delegated proof of stake (DPOS)
The software of EOS blockchain uses the decentralized consensus algorithm – delegated proof of stake (DPOS). According to this algorithm, the token holders in the blockchain with the use of the EOS software choose the block creators through the continuous approval system and every network participant can take part in the creation of blocks proportionally to the VOTES received. For a private blockchain, the management can use tokens for adding and removing the IT staff.
The Block.one Company creates the EOS blockchain software but doesn’t plan to launch any public platform with the use of it. Any launch of the EOS platform will be carried out by the community participants that are not connected with Block.one. The third parties launching the EOS platform can delete, change or complete the EOS coin software before, during and after the launch of the EOS platform.
EOS tokens are distributed on the Ethereum platform since June 26th, 2017. The process will last over 341 days in several steps; in total, it is planned to distribute 1 billion tokens. The first step took place from June 26th to July 1st, 2017. Other 700 million tokens are distributed by 2 million tokens during 350 short periods of 23 hours each. The remaining 100 million tokens, or a tenth of the total amount, will be reserved for Block.one and cannot be sold or transferred to Ethereum networks.
At the end of each period, the whole amount of tokens reserved for it is distributed among the EOS ICO participants proportionally to the amount of ether that each of them invested in this period. EOS tokens have no rights or functional capabilities, including the EOS platform.
EOS Coin Price
Project market cap on 15 APR 2019: $4,963,090,673 ;
Price of EOS coin on 15 APR 2019: $5.48;
EOS Online price:
During the first step of the EOS ICO, the startup managed to collect $170 million despite the critics from some representatives of the blockchain community. The main object of critics became Dan Larimer, the EOS developer. Earlier he launched 2 platforms, BitShares and Steemit, which allowed their users to create tokens in unlimited qualities. The absence of the project’s detailed technical description is also questionable: for now, everything is limited to the general words White Paper.
As a result, the capitalization of the issued EOS tokens from summer to autumn 2017 was reduced for 45%. As of October 19th, one token costs $0.57 with the market capitalization of $236.4 million, while the volume of the attracted funds at that moment made out $400 million.
At that, the management of Block.one stated at the beginning of October that according to the results of the whole ICO, the company will manage to attract $1 billion for the project implementation by the middle of 2018.