Like Ethereum? You might love EOS blockchain
Ethereum is by far the most popular blockchain platform for developing applications. EOS blockchain is another up and coming platform providing many of the same features and filling some voids where Ethereum fell short.
What is EOS blockchain?
- EOS.io is an open source platform for building blockchain apps or Dapps that aims to resolve a few shortcomings of Ethereum. Cost, Scalability, and ease of use.
- They want to solve the scalability issues commercial customers need and provide an easy to develop platform for other businesses. (think bluehost for websites)
- EOS blockchain is being developed by a company called Block.One
- Decentralization is a concept that is thrown around a lot, but does anyone really care? With recent examples of Facebook data scandal you might. Chances are you are still using these platforms.
- What is important to most people are the features of the platforms and not the tech underneath them. EOS understands that and intends on solving the issues that plague blockchain and allow new more modern apps to be developed.
- Many blockchain based applications require users to hold tokens and spend them to use the platform. EOS does not.
The team behind EOS.io
- Dan Larimer has been in the cryptocurrency space for a long time and founded some very successful blockchain based projects including BitShares, steemit.com, with this being his latest project.
- Since building blockchain based applications is not easy and this guy has some real world experience, he has taken the experience from doing it and created a platform to solve the common issues.
EOS can’t stop raising money
- The largest ICO launch to date raising over $700 million dollars by selling EOS tokens.
- Mike Novogratz and Derek Rundell partnered with EOS to give 1 Billion USD for projects being developed on EOS.IO
How does EOS.io work?
- Making it more decentralized utilizing delegated proof of stake algorithm vs proof of work that both ETH and BTC use – Dan explaining DPOS
- Incentivized voting for candidates block producers and locking up tokens (Smart participation, a lot to lose, and put money where their mouth is according to Thomas Cox)
- CPU, Disk, and Memory are the basic elements needed to run applications. The relative amount of tokens you own determines the amount of network resources you are able to consume
- Separation of token cost from utility
When does EOS launch?
- EOS Dawn the 2.0 Testnet is now available. That is just a test network, which means a place for developers to start getting their hands dirty. The production launch date is planned for June and will not be done by Block.One. The community itself will take the open source software and launch the EOS. The EOS Go community is one of the communities rallying behind this initiative.
BitFinex building on EOS blockchain
How to buy EOS token?
It’s available on Binance, Kraken, or buy via Shapeshift or Exodus. If you are in the U.S. be very cautious and do some research before buying.
What I like
- Backed by a guy that has been around crypto and blockchain since the early days with many successful projects under his belt
- This translates into a lot of experience, struggle, and overcoming obstacles
- Very active Git repository. When the updates are from hours ago rather than days or months it’s clear that this is an active project
- Block.one has been excellent at marketing by pulling off such a huge ICO
- Strong partnerships is an understatement
- I love the mindset about there will be bugs and issues and we will resolve them. This is a reality with software. Some people just don’t admit it
What I don’t like
- Difficulty to buy the tokens in the U.S.
- Trying to solve scalability for commercial and ease of use for regular businesses (making it as easy as building a website).
- Solving each is a challenge on it’s own, but doing both is a monumental effort
- Medium Blog
- Git Repository
- Hong Kong meetup
- Dan Larim interview
- Interview with Thomas Cox