ADSactly Technology : The Exciting World of EOS Forks!
If you aren't aware of EOS and its underlying software EOSIO then you are definitely in for a treat. In short it is one of the most promising blockchain platforms ever to be created. In this article I'd like to focus on EOS' history, and some of the promising clones that have sprung up as a result.
New projects take time to really get all their ducks in a row. It is certainly true that this applies to EOS when we attempt to count all of the struggles and controversies surrounding it.
For example, the stop-and-go launch which seemingly took ages to complete. After that there was quite a bit of controversy surrounding locked accounts.
Beyond that people had been scammed and tricked into giving away their private keys. In addition people were surprised when orders were made by an "arbitrator" that many in the community hadn't realized existed (the entity referred to as ECAF).
Because of all these mishaps and the clear lack of leadership and resolution found in the EOS community, Dan Larimer decided to propose a whole new governance structure or "constitution."
The problem the community faces when it comes to deciding upon a new governance structure is the fact that Dan hadn't taken the time to direct Block One to actually create and incorporate a system into EOS that would allow its community to vote on a constitutional change.
Perhaps one of the biggest disappointments of all that community members face is the powerless nature for smaller users to change anything about it. The voting scheme put in place favors huge early adopters and as a result the block producers (BPs) that are chosen aren't necessarily working in the best interests of the greater community. In fact many would say that several of the BPs that have been voted into the top slots aren't following all the rules of the constitution in charge.
The fact of the matter is that EOSIO the software that powers EOS is open source and there are community members unsatisfied with the status quo who also have the power to do something about it. Several have made the call...
'Abandon ship! Swim for the shores!'
Some have been very vocal about their feelings regarding the current state of EOS.
"I'm a really big believer in the potential of EOS and of EOSIO software, and I came to believe that it was on a bad path."
This is what Douglas Horn had to say when asked about his feelings regarding the state of EOS.
To go one step further Horn wanted to make more than a statement, he wanted to affect change. He also thought he could do better job and rise above the current paradigm. He was so passionate in fact that he began working on a project called Telos, a fork of the open-source protocol behind EOS called EOSIO.
There are now several groups working with the software making changes in an effort to set up and improve the brand new network. Telos has had a successful mainnet launch at this point and they've got a very large community on Telegram. They also are supported by a huge number of well established BPs.
Now I'd like to talk about another very promising project built on the EOSIO software.
I'm talking about a blockchain project called WORBLI.
But what is Worbli and what makes it different from the other very well known cryptocurrency EOS?
Well, for starters it is an Anti-Money Laundering and Know Your Customer (AML/KYC) compliant platform, enabled by a scalable base layer protocol (EOS).
To put it in simple terms it is a blockchain with all the features of EOSIO, plus traditional features (KYC) that regulators are very keen on. This makes it perfect for creating new security tokens, a topic that I will get into shortly!
WORBLI will be executing a global expansion plan in 2019 as a leader in revolutionizing the financial services sector through the benefits of blockchain and driving enterprise solutions and adoption of Blockchain.
One complaint many have had about the cryptospace is its lack of regulatory compliance, this is an area where I firmly believe Worbli has the rest of the space beat! For mainstream adoption especially in regard to institutional investors there are few projects that offer as much promise as Worbli.
By having its verified user base and process, companies and services can easily build on and transition infrastructure to WORBLI, whilst not having to deal with the legal and technical obstacles of identification and obvious concerns with anonymous transactional counterparties. This is a huge advantage WORBLI has over all major blockchain protocols.
The paragraph above sort of explains the true value behind Worbli in the sense that companies and services can now build fully compliant projects and security tokens without having to worry about legal ramifications. And this is a big reason why I feel Worbli is going to revolutionize the next wave of cryptocurrency investments.
"In 2018, the hype cycle peaked and waned around most Blockchain Technology projects without the know-how to deliver and some clear winners are emerging, delivering value and gaining users. WORBLI is happy to stand among the winners; building our team and relationships with a global network of blockchain development companies and working on applications that will empower our base of verified global users," Domenic Thomas, CEO of WORBLI said.
"WORBLI has added top talent and we recently started to recruit for a dozen roles in Tech, HR, Operations and Marketing. We're also partnered with top blockchain development companies and in 2019, The WORBLI Foundation and our partners will roll out applications that will reduce financial system friction and drive blockchain adoption."
So now that I've explained a bit about what Worbli is and what makes it so special I will go into why I'm so confident that it will be successful going forward. My main point is the fact that they aren't just making promises, they are delivering!
An article was recently published by PRNewswire entitled 'WORBLI Presents: TokenOro to Tokenize Combined Commodity Gold and Mining Operations' and the revelations revealed within it to be frank, simply blew my mind.
Apparently Worbli has recently entered into a deal with TokenOro, a global gold mining business operated by a highly experienced team of business, commodity and mining professionals.
According to the article, TokenOro has created a brand new tokenization model which enables token-holders to benefit from current ownership of gold. Beyond that investors will be able to share in profit from from future gold production.
This sounds very interesting at first glance but the real proof is in the details of this new token project.
For WORBLI users, TokenOro will allow fractional ownership of assets typically only accessible to specific groups and begins the long-awaited disintermediation of traditional financial oligopolies.
Basically this TokenOro security token offers investors something that hasn't been possible until now. This fractional ownership ability means you can own a very small piece of a larger unit and in some ways assuming the underlying assets backing this token can be verified on a regular basis by an independent and respectable auditor makes this token highly superior to fiat currency.
"WORBLI is dedicated to empowering businesses and users. TokenOro is one of many innovative blockchain projects WORBLI is working with to bring new opportunities to everyone," Domenic Thomas, CEO of WORBLI said.
"Individuals are often limited to products like internet stock trading, mutual funds, and employer-issued retirement accounts. WORBLI is engaging businesses to bring a wider range of financial opportunities to users."
I'm going to keep a close eye on Worbli and this new TokenOro offering as I feel this may be the opportunity of a lifetime to get in early on these new crypto based assets that may overtake traditional asset classes at a stunning and jawdropping rate.
The future of EOS and EOS forks looks very bright indeed!
Now I want to know what @adsactly readers think about all this. Please leave your thoughts below.
Thanks for reading!
Authored by: @techblogger
Sources:
WORBLI Presents: TokenOro to Tokenize Combined Commodity Gold and Mining Operations - PR Newswire
WORBLI Calls 2018 the Year of Substantive Growth in Blockchain and Predicts Global Expansion in 2019 - PR Newswire
Fed Up and Forking: Rival EOS Blockchains Are Becoming a Reality - Coindesk
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The world of cryptocoins is obviously quite complicated, and you make it quite actionable. What you report about EOS, WORBLI and TakenOro is very striking, though still a little hard for me. I follow you to get acquainted and update myself. Thank you for your excellent work, @techblogger. Greetings.
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You give me your emotion, @techblogger. In a post here at steemit I had just read about how earlier this year TokenOro had selected WORBLI to provide the infrastructure to deliver the first gold-backed security token to the market. At that time, there was even talk of other valuable minerals that could support other crypto currencies in the future. In that post it was said how for companies like TokenOro, WORBLI enhances the ability to expand the liquidity base allowing a more profitable distribution capacity and greater reach. According to them, the tokenization of gold-based securities provided a more transparent, secure and intelligent ledger. If you say good things are coming, I believe you and I hope they are. Thank you for this illustrative and informative post.
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