Here are 10 things you should know about EOS if you don't want to miss out on the next big opportunity in the cryptocurrency space
We can all be among the early adopters! There has been no official announcement about the EOS token distribution model but many are anxiously awaiting more information. Enter your email address in the Subscribe box at EOS.io to sign up for the mailing list if you want to be among the first to know about EOS distribution.
The code is available on GitHub at https://github.com/EOSIO.
There are EOS Telegram chat groups in multiple languages. Below are three that I am aware of. If you know of others, please add them in the comments.
English - https://t.me/EOSproject
한국인 그룹 - https://t.me/EOSKorea
Российская группа - https://t.me/EOS_RUEOS is not an officially defined acronym although many have been suggested, such as Ethereum On Steroids, End of Silence, Endless Online Scaling, etc. My preferred is EOS Operating System.
There will be no pre-mine of EOS tokens. There will be no mining at all. There will be Producers, which are similar to Witnesses in Steem.
The target number of total EOS token supply is 1 Billion with the potential (depending on community votes) of up to 5% inflation per annum. The tokens can be "staked" to power the blockchain's bandwidth, computational power and storage capabilities.
EOS will use the most fair distribution model yet. Speed will not be a factor in obtaining EOS. This means you will not have to worry about being outbid by bots and the like. Did I mention bids? There is some speculation based on old, out-of-date documentation that was briefly available GitHub, that the distribution model will involve some type of auction of the EOS tokens. One thing that has been revealed is that the price will be determined by the markets, so it will not be fixed.
EOS will be the first blockchain with its own constitution. Check out this post by @dantheman: https://steemit.com/eos/@dantheman/what-could-a-blockchain-constitution-look-like
Ummm... EOS will have the capability to process MILLIONS of transactions per SECOND through horizontal scaling! This blows any of the old dogs like Bitcoin and Ethereum out of the water and will make it possible to create dapps that are indistinguishable from their centralized counterparts.
If you plan to run a full EOS node, you will need to be ready to run on Linux/OS X.
Note: @bbrewer is not an official representative of EOS or Block.one. I am just a regular guy who is slightly obsessed with cryptocurrency and the imminent launch of EOS. I obtained most of the information for this post from the EOS Telegram chat.
You forgot to mention that EOS has the coolest logo with the coolest backstory of any cryptocurrency!
Yes, the chestahedron! It is awesome. The EOS.io site is pretty freaking awesome even now! I will have to write more about it again. ;)
Can you summarize the backstory in a sentence or two?
It’s a seven sided shape where all faces have the same surface area, which didn’t exist in the physical universe until it was discovered/invented by an artist over many years and many attempts. When the corners and edges are rounded it is the same shape as one ventricle of the human heart. There are many other forms in nature based on this shape. See the link, second video, long but very interesting if you have the patience to watch.
https://steemit.com/eos/@thinkngrowsteem/the-chestahedron-the-wonder-of-seven-eos
I bought more EOS just because of this comment ; )
Then my comment may qualify as the most bizarre trading advice on record.
HISTORY ?
https://steemit.com/eos/@thinkngrowsteem/the-chestahedron-the-wonder-of-seven-eos
haha! agreed. Its got one of the best looking sites of any crypto. I dont know why but that goes a long way. Shows that there are brains and ambition behind it. I started buying eos at about .70 cents, and look at it now. Hit $4.30 or more this week! $30,000 from a $5,500 dollar investment so far, and climbing every day. good post!
You should be over 100k now. I really hope it a long term investment as I got in for a great price and am extremely happy with the return so far!
I like it. Did you just post that to Wikipedia?!!
I was referring to it as a recursive acronym but coining a cool new term is pretty neat too!
Comment posted from ChainBB.
That's "millions" with an M folks. Impressive.
Personally I can only hope that Steem price rises significantly until I get a chance to buy in for a piece of the pie or that possibly there are some coins handed out to those taking an early interest, as they did with Ripple and a few other projects.
I think you have a good chance of Steem Price going up as EOS will bring more attention to Steemit and ChainBB! Good luck friend!
I agree! Hopefully Steem will be driven by BTS and Pearplays. EOS will continue to drive them all three I think.
I think so too! I need to look into Peerplays. So many investment opportunities and so little time and money to invest! EOS will help them all though so pick one and stay in for the long haul. And keep posting on ChainBB!
That will be more fair than Bitshares ICO. Wow! Maybe he will stay with project for more than a year and keep his promise.
I think he only moves on when he has left his project in good hands and he is ready to develop the next phase of the ecosystem. Steemit and Bitshares are not suffering in my opinion.
You should explore more what he did with Bitshares.
What did he do?
Google is your friend.
I want to hear your version, you seem so well informed.
No, sorry. You can start with https://letstalkbitcoin.com/blog/post/the-evolution-of-protoshares then try to find out what (post Feb 28)AGS donors got.
Maybe you will have better luck with EOS ICO.
Good luck.
It is sometimes, but if he did something specific it would be better if you just pointed it out.
Agreed! I have been researching and investing in BTS and recently opened a Bitshares OpenLedger account. : )And I am hodling.
Recently? Who knows maybe you become rich. Good luck.
Yes when it was at $.045 or so I picked up the bulk of my bts. Thanks!
Can't beat a good Backronym
I'm a little late to the game but just bought into EOS. Great article.
Thanks for stopping by. You are not too late! We are just getting started with EOS. Congratulations on making a wise investment.
Thanks for this info i have a great feeling about EOS !!! Do you remember the price when you wrote this article? Its at $1.89 ish right now.
There was no price at the writing of this article because Token-Distribution had not yet begun. ;)
Yes, that is another good one!
Thanks for tying this together 🙂 It's a really exciting project.
This, I'm not too sure about. It seems like a kind of contract that's not contract. I always like to know exactly where I stand with legal or even pseudo-legal agreements.
This concerns me. I asked for a response but did not get one from @dantheman. What's your take on it?
Thank you for the comment. I am still formulating my thoughts on the constitution.
This is amazing info, thank you! I'm going to look into it further.
Agree with your key points, EOS is going to become critical infrastructure and appear at this time to be making all the right steps. I'm really impressed with the pace of their development and their openness with the community.
Excellent article! I've featured your it in my research series on EOS here: https://steemit.com/eos/@conceptskip/eos-peeking-under-the-hood-series-launch-yet-another-ico
Great post, I now know what EOS is about. I have been seeing it all over the feed for weeks. Thank you :)
My pleasure!
Great write up. I need to go over this in more detail for sure. Check out my crypto articles and tell me what you think. I would love to get your input.
Thank you. I am glad you found it informative. I have followed you and will check out your articles!
Thanks bbrewer !
Glad to have read this article - it has given me a hint about EOS.
Well written - thanx :)
Great information. I wondered how coins we're going to be obtained. I heard there wasn't going to be an ICO.. and I thought the OS was something operating system for sure after watching the video from consensus. Thanks for the info yo, +1 follower
Distribution model is still not official but definitely no ICO in the traditional sense. Yeah, it is crazy to hear the compsrisons to Microsoft OS!
Very informative post! Glad I read it because I have been curious about EOS, even as a non programmer. I have a feelings it's gonna go big. And I wanna be a part of it!
Me too! Gonna be big. Gotta get in. Glad you stopped by and read it as well!
Few questions. Can anyone run a node?
What are the hardware requirements for doing so?
How much bandwidth needed to run node?
My understanding is that anyone can run a node, you just need a Linux or OS X operating system. You would probably want more than one machine for redundancy. Not sure about bandwidth. These are my thoughts. I am not an expert on that kind of thing. I bet others could provide more detail.
I've heard the term redundancy but what exactly does that mean?
Basically a backup machine so you don't fail to produce blocks in case your primary machine goes down.
Oh ok. Got it.
I should clarify that you have to be voted in as Producer by the community.
If you have enough stake you can produce a few times per day without any votes. Get a few votes and you can produce more often.
Oh ok thanks for the clarification . I still will look to invest in this if not a producer.
nice...you deserve upvote and resteem...
Why, thank you! :)
no reason...u r welcome... :)
Thx!
Cool post :))
Cool as a cryptografically frozen in time block of chainbases if you get my message about the state which alters its state of coolness to hot.
Ha!
I'll go and read more, I'll be a little bit more depth :)
Forgive me for being goofy.
Npr :))
No ICO? How about token distribution? Any resources for me to look at the system on how it will be distributed ?
Only what I provided in the article above.
I hear that it can be seenas an uncluttered, form of ethereum, like a better versionof ethereum, that u can use for smart contracts, without a massive blockchain size
its hardto expplainto people why they need things they dont need yet
but they will need these things
everyone will want too use crypto as they see how successful everyone is who uses it!
My understanding is that Ethereum can only process 15 transactions per second as of now. So, one of the biggest advantages will be scaling with potential for millions of transactions per second with EOS.
yes any new coin that can actually allow for thousands of transactions a second will be a great new tool to fill a huge demand
Agreed. Except that we already have a platform that is currently performing thousands (20,000 TPS I believe currently, with the capacity for 100,000 TSP) in BITSHARES. With EOS we are literally talking about the ability to handle MILLIONS of TPS. :)
Oh shit thats right! forgot about bitshares! yes I am a believer and yes u HAVE tor emind eve believers like me because theres just so much in this crypto space it truley isthe emergence of a trulye indpendent cyberspace ghat funds itself
That's right, my friend. Make sure everyone knows about Bitshares, Steem and Steemit, from there the evolution progresses naturally to EOS.
And ChainBB! Stuff's the bomb!
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Great article, upvoted, by the way, what do you mean about the code in step 2, what is that for exactly?
It is the code that can be installed on computers all over the world that runs the network and produces the blocks. There will be a test network this summer which developers cas use to create decentralized applications (dapps) that can then be launched into real world production later on. That is how I understand it anyway.
Thank you for the quick reply, I appreciate the insight and your informative response. If you're into horror and scary things, feel free to check out my newest post. Only 2 sentences of terror
You're welcome!
Very interesting. I think I will wait until it can be traded on the markets. Most of the times that works out just fine for me.
That is definitely an option. Especially if you are in it for the long term.
Comment posted from ChainBB.
The most funny part is that I bet like everyone is checking their mails a few times a day, to see if there's something new about EOS
Thanks for the comment. You do know the white paper is out now right?
https://steemit.com/eos/@bbrewer/eos-token-distribution-details-to-be-released-end-of-june-2017-per-white-paper
Yes thanks, I've read a bit lately))
Good for you! I have read a little but keep getting distracted! lol : )
Oh I am so excited for this!!
really appreciate this post, am really interested in the project!
Great article
Hey @bbrewer, Thank you for gathering all this useful EOS information, nice to have it all in one place, it was a good read, i have a post expanding on your point number four which you may like https://steemit.com/eos/@res/eos-logo-is-the-monolith-from-2001-a-space-odyssey
Thanks so much for writing this article Im new to the crypto but am definitely eager to learn more and invest wisely. Ive heard good things about EOS, your article helped to clarify things as well. Ill be sure to check out eos.io
Interesting thread. I was about to post a similair post. You read this stories about people selling their cars to buy cryptos and I think to myself: Don't invest money you don't have. We really need more insights in the market and previous investment results (even though they don't deliver any guarantee for the future). I found this great website: https://www.coincheckup.com I'm using this site that gives in depth reports on every tradable cryto in the market. Check for example: https://www.coincheckup.com/coins/Eos#analysis To check Eos Detailed analysis
So, I've just read that EOS has no purpose. Is there truth in this?
http://fortune.com/2017/12/18/investors-are-lining-up-to-buy-this-cryptocurrency-with-no-purpose/
Great article, just shared it with my brother. We both got in at the beginning so we are excited about the possibility this token holds.
Your post helped me with mine @healthchain, thanks!
cant wait for this to start, like you i am very excited about the potential this Os has and the ability to fix the broken internet, and create internet 2.0 wow amazing platform
Wish I knew, understood and acted upon this 11 months ago.
Sorry you were not aware and ready to pounce. I know how you feel. You will get your day in the sun if you stay informed. That said, it is not too late to get in on EOS! Imagine Ethereum at $12. I was there too but sold way too soon!