Great article...I am trying to wrap my head around this... Can you recommend an article which explains how the eos tokens would be valuable? It sounds to me a bit like a business just buys an eos token like an anchor and then just uses its private blockchain... a bit like sidechains or something like that?
I would love to know more about that, but would like to understand why the eos tokens would have to be bought...
They give you a percentage share of the blockchain's storage and computing power. The number of tokens you own determines your access to the network.
Ok, so this is the same like in Steem... But if you run your private chain would you need many of them?
Does this article means death to other cryptos like Bitcoin, Ethereum and etc. because EOS is faster ?
I found the white paper... so will give this one a read... looks interesting... :)
Yeah so basically the tokens they issue will all get to vote on July 4th 2018 to try and form a formal blockchain. If it implements the guidelines of the EOS.IO system it will create a public blockchain that follows that standard and companies would need to use those tokens to make applications on that blockchain (at least that's what I understand).
While they can also create their own private blockchains based off of EOS I imagine some of them will want to interact with a public blockchain which would need to be this EOS token one.
In summary, what I gather from the whitepaper is the goal is to have the current tokens become a key component of the platform, they just don't want to promise that for legal reasons incase someone gobbles up enough tokens to out vote them.
This post reflects also on EOS. This is another view: https://steemit.com/eos/@jerrybanfield/best-time-to-buy-eos-or-any-new-cryptocurrency