What does this mean?

tsto (47) · 7 years ago (edited)

This point does not concerns the actual EOS tokens but the one we will hold once EOS will be launched on June the third. You have to register your EOS keys!
Once EOS will be launched, there will be multiple chains projects inside EOS. Anybody can start a chain. As EOS holder, you will have to vote for the chain(s) project(s) you believe into.
As I understand there explanation, a new chain will be allowed to be launched if minimum 15 % of the total amount of EOS = 150'000'000 are voting for (1 token = 1 vote) this is the consensus in that precise situation, then only, people will be allowed to start a new chain, transfer there tokens inside the new chain and developers of apps start building inside. To host an application inside a chain will immobilize some tokens which will be freed once the app is taken away.
Did I miss-understood ?
Have an nice Sunday!
Thierry

$5.27

cryptographic (64) · 7 years ago

Very good analysis in my opinion. That's kind of how I read it too. I've also seen the question posted about how the actual voting will be done. Do you have any insight as to how that will possibly happen?

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tsto (47) · 7 years ago (edited)

The very best place to find some fresh and first-hand informations is very probably :
EOS Go - Blockchain Launch Community

I guess that voting will be done probably the same way we are doing it on steemit for the witnesses. I still have to check that point.

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cryptographic (64) · 7 years ago

Really appreciate all the extremely well informed comments you've posted in this thread.

We all owe you a big "thanks!"

$4.23

5 votes

nudimar (38) · 7 years ago

i I agree. Your comments have helped me a lot. Mahalo

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tsto (47) · 7 years ago

You started a great talk and synergy with that post ! I thank you as well, I'm following your channel since now! Thank you for your upvotes!
T.

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markzuckerbergs (56) · 7 years ago

Anyone who holds tokens on a blockchain integrated in the EOS software can select the block producers through a continuous approval voting system. Anyone can participate in the block producer election and they will be given an opportunity to produce blocks proportional to the total votes they receive relative to all other producers

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cryptographic (64) · 7 years ago

I understand that to apply once an EOS blockchain is put into use, but would not be aplicable to the voting required for previous approval by at least 15% of holders. How will voting be carried out in the approval phase, prior to genesis block creation?

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markzuckerbergs (56) · 7 years ago

Please take a look at my comment below..It will help you..

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cryptographic (64) · 7 years ago

Hadn't seen that. Clearly explained and easily understood!

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markzuckerbergs (56) · 7 years ago (edited)

The tokens are frozen on the Ethereum blockchain at the end of the ICO, which means the genesis block (the first block that isn't built on another block) can be made with the balances on the Ethereum blockchain. The blockchain is then launched with this genesis block. The token holders in the genesis block must vote such that at least 15% of tokens (i.e. if I have 5% of all tokens, I am 1/3 of that required 15%) agree that this blockchain is a good blockchain before our tokens become transferable.

This can happen for multiple genesis blocks and thus multiple separate blockchains. It's unlikely that it'll happen for multiple chains, and near impossible for a blockchain with a false genesis block to gain enough network effect to out perform a correct genesis block.
https://www.reddit.com/r/eos/comments/71bvud/can_someone_eli5_this_statement/

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cryptographic (64) · 7 years ago

Given that there's no limitation to the number of blockchains anyone can participate in, the chances for a continuous supply of new EOS blockchains are good. The possibility of being able to create an 'unlimited' number of blockchains is what a 15% holding gives you. You just basically say yes to any and all who want to use EOS.

Or will it be that token can only be transferred once?

If not, it's a possible eternal airdrop.

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profchydon (60) · 7 years ago

Well i'm still trying to understand what they aim to achieve by making it this way but i think it will tend to shift power to some certain set of investors who may seems to think that they kind of control thr EOS market. Maybe i'm wrong but maybe i'm also right

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4 votes

bigtx31 (51) · 7 years ago (edited)

Agreed! The 15% threshold is so high that it will definitely shift the dynamic in the market and could slow some innovation on EOS since those investors have limited time to understand every project being proposed. Takes away a bit from the decentralization goal of blockchain too

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cryptographic (64) · 7 years ago (edited)

That's another thing that also seems to make sense to me. Someone who wants to lock in a guaranteed "15% approval" would need to invest enough to own 15%. That would be 150 million EOS or approximately 1.18 billion USD at today's price. An aggressive buyer in the Aug-Oct 2017 time period could have accumulated that amount for an average price of $1 or so . . .

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taskmaster4450 (78) · 7 years ago

To me I get the sense EOS isnt going to be available to every blockchain. From what I understand, EOS is more an operating system that will be applied to blockchains to create interoperability among them.

At present, we are looking at a system where the blockchain code is different for each one...at least the major ones. EOS answers that by allowing other blockchains to implement the EOS system.

I can only presume putting the 15% criteria in there that EOS is going to decide who can use it.

My question is if it is open source, how can they stop anyone? Perhaps implementing EOS, a blockchain also gains access to the EOS network.

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cryptographic (64) · 7 years ago

A possible answer would be positioning block.one as the principle support provider and qualifying the adopting chain as "official" EOS. Those picking up the code on GitHub wouldn't have the same status or support?

If an EOS Platform adopting the EOS.IO Software is launched, the default EOS.IO Software configuration developed by block.one will lock new founders tokens distributed pursuant to such EOS Platform in a smart contract and release 10,000,000 (10%) of such tokens to block.one at the end of each one year anniversary of the genesis block over a period of 10 years. The EOS.IO Software configuration of the EOS Platform will be ultimately determined by a third party who initializes a genesis block and starts the EOS Platform.

That's the last paragraph in the purchase agreement.

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taskmaster4450 (78) · 7 years ago

I wrote a post earlier based upon an email that I got from BitcoinLatina.

It said they were going to be an EOS-based blockchain starting around June 1 (or whenever EOS is released).

This struck me as odd since @stan announced they were going onto Bitshares. I know he discussed BTS and EOS working together and having some combining between the two.

So I am not sure what is going on.

Is BTS the EOS-based blockchain or is BitcoinLatina doing like Vice and going off on their own?

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cryptographic (64) · 7 years ago

Saw that.

"BitShares 3.0 = BitShares 2.0 + EOS in a TBD Mix"

I'm banking on it.

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newageinv (70) · 7 years ago

I think this is a great governance method in order to keep the network flowing with dapps that will be used. Im sure they will launch the voting system with the launch of the mainnet here is a couple of weeks. They say that there will be over 1,000 dapps ready in June for launch so the platform should be in beta completely before then.

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cryptographic (64) · 7 years ago

So they're going to launch a mainnet? Will that really be a 'mainnet' testnet? FAQ #5 gives the idea that no "mainnet" can exist until someone else put it in place. Wow, I'm feeling really out of touch with the matter.

block.one is building the EOS.IO Software but it will not configure and/or launch any public blockchain platform adopting the open source EOS.IO Software (the “EOS Platform”). Any launch of an EOS Platform will occur by members of the community unrelated to block.one.

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newageinv (70) · 7 years ago

You are right! It is like another testnet but it is Dawn 3.0 which is more closer to a beta than the public alpha we are currently in. See this post by the team: https://steemit.com/eos/@eosio/dawn-3-0-alpha-announcement

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cryptographic (64) · 7 years ago

Slowly but surely I'm getting up to speed on this. Thanks!

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jahangirwifii (66) · 7 years ago

@Cryptographic
I understand it after reading a few
YouTube comments
*They create software.
*They don't create a blockchain.
*Their software may never be used or a blockchain may never be created.
So there may be no native EOS tokens. Just the subtokens distributed right now which are frozen June 1, 2018 at 22:59:59 UTC...

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cryptographic (64) · 7 years ago

That is definitely a worst case scenario, and one that every investor should be aware of. It seems to be a very big risk to me.

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fitzgibbon (61) · 7 years ago

Is it weird if that doesn't worry me at all?

To me it seems only logic not to accept just anybody who wants to roll out a blockchain with EOS software, but have a minimum of support before enabling that. Whether that should be exact 15% or a bit higher or lower can be set by the community at a later stage. Starting off with 15% seems to make sense to me.

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cryptographic (64) · 7 years ago

I was thinking that it was a little high and that it could possibly stifle any attempt to launch a blockchain, but the more I read what has been posted in the comments here and the resources linked to, the more I'm beginning to agree with you. 🙂

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fitzgibbon (61) · 7 years ago

Most investors in EOS tokens are incentivized to acknowledge at least 1 chain. The terms and conditions are pretty clear on what happens when no chain is successfully launched: tokens would be worthless and completely useless.

But you wouldn't want thousands of EOS chains either, that just about anyone can start one, it would destruct the forming of robust ecosystems with dapps.

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cryptographic (64) · 7 years ago

Absolutely.

Allowing for multiple "official" EOS blockchains while protecting against unlimited, uncontroled use. That's pretty much the conclusion I've come to on this. Would you say that's a fair summary?

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bigtx31 (51) · 7 years ago

It's an interesting dynamic for sure and is a clear indication that EOS has been trying to position itself as a more "corporate" blockchain. I don't necessarily hate it in theory since I think it helps EOS to just support and offer presumably high potential and established services, BUT I also think that 15% threshold is way too high. It takes power away from the people and grants the whales in terms of shareholders too much arbitrary power as the gatekeepers.

That all being said, would also be a plus if BTS - EOS partnership is formalized since I doubt EOS would look to adopt a similar platform to BTS afterwards, allowing BTS more room to grow without competition on EOS.

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cryptographic (64) · 7 years ago

@stan says that BitShares 3.0 will be a version of BTS 2.0 and EOS. Can't wait!

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theguruasia (67) · 7 years ago

@cryptographic,
I am not having 100% good idea, but one of the last posts and discussions of @dan, he said he is trying to build something which is competitive to STEEM voting system! If I am not mistaken the idea behind it is kind of SMT / kind of PoB methodological reward distribution system!
(@tsto got a good point)

Cheers~

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cryptographic (64) · 7 years ago

I'd really like to see @dan and @ned work out their differences.

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4 votes

fitzgibbon (61) · 7 years ago

#metoo. There is plenty of cryptospace to accomodate both Steem and its ecosystem of SMTs and EOS, even a Steem on EOS would be a welcome competitor, I think, as competition can bring out the best in people :)

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cryptographic (64) · 7 years ago

Good point!

$4.78

perry1 (59) · 7 years ago

I think they just going to help the immense speculators and no more help for little financial specialist's and I think the final product of this will be terrible in light of the fact that people groups will begin leaving the EOS and they will just have certain speculator's and this wouldn't deliver any great outcomes for them.

$1.16

tsto (47) · 7 years ago (edited)

Who are the "THEY" your are talking about ?
Didn't you understood what an Autonomous Decentralized Community is?

EOS will belong to it's users (much more than steemit) who will be the tokens holders. The tokens holders are those who takes the decisions inside EOS, for any decision, a consensus must be reached by the community. No pyramidal dictature.

A Decentralized Autonomous Community has no land, no flag, no geographical jurisdiction, no CEO no CTO no shareholders and no main office.

To better understand what the "Delegated Proof of Stake" is and what a stake is, I do encourage you to watch this short interview from Chris Coney explaining EOS :

Have a nice day,

Thierry

$4.87

isaacbanks (50) · 7 years ago (edited)

To answer your question, my personal thought on this matter is based on my understanding of the FAQ on the EOS.IO website.
I understand from the FAQ that there is a bit of centralization in the EOS.IO system otherwise any EOS Platform that adopts the EOS.IO Software will not require the approval of holders of not less than 15% of the total issued.

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tsto (47) · 7 years ago (edited)

Technically, the 21 mining nodes will be "centralized" (in 21 different locations around the world) as well the IPFS servers. This hi speed of transactions per minute and this amazing scalability requires a great use of RAM memory, this RAM will be part of the running nodes.

WE, the tokens holders will elect the miners and any other candidates who would like to assume some responsibilities for the community.

Here Is an EOS-miner candidate who introduced himself on steemit a couple of days ago.
I am going to vote for him : Eric from Sweden

$4.96

jcobs (52) · 7 years ago

No need to worry about the EOS because it will be the great token in erc-20.

EOS has already had its fair share of attention with speculators mentioning its potential to outdo Ethereum thanks to the combination of Block.one and the EOS cryptocurrency. Certainly Ethereum has already established itself as the biggest Dapp platform in the crypto space and whether EOS and Block.one will manage to scale that height is unknown. However, if EOS can stand the test as the most powerful infrastructure for decentralized applications only time will tell us.

Estimates for the marketcap by June (when the year long ICO ends) will be 4 billion dollars. That is all before any code is deployed. As long as current future speculation and expectation trends continue, this may not be a problem, but if people start to reevaluate fundamental valuations (like an ongoing bear trend) it could be particularly dramatic for EOS. Great premise, but currently completely afloat on future expectations.

EOS gained 9.803% subreddit growth in the last 24hrs and currently EOS is ranked the #3 fastest growing community in crypto!

$1.13

adnanrabbani (70) · 7 years ago (edited)

i think they only going to support the huge investors and no more support for small investor's and i think the end result of this will be bad because peoples will start leaving the EOS and they will only have certain investor's and this is not going to produce any good results for them.

$1.13

tsto (47) · 7 years ago (edited)

I do think you miss-understood what a DAC is.

A DAC is a Decentralized Autonomous Community. EOS, on June the Third, will become the biggest DACs which has ever existed inside the cyberspace.

What does this means, that means that on June the 3rd, EOS will not be anymore between the hands of Block.one, EOS will be between the hands of its community. There will be no pyramidal and antidemocratic decision taken by a few as the management of EOS will be horizontal. For any kind of decision regarding EOS, a consensus will have to be reached by the community. Community will have to elect 21 miners and that's not all.

We have here a great example of electronic democracy, breaking all the old business models from the past.

Enjoy your Sunday,
Thierry

$5.11

charitybot (63) · 7 years ago

Sounds like it at this point. Most ICOs are very top-heavy.

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mejustandrew (58) · 7 years ago

In other words, without 15% approval, ESO tokens - Shouldn't that be EOS tokens :D

To answer your question, well it seems to me that it is a nice way to have a control over what blockchains are adopted by EOS Software. And since the founders have by default 10% of the EOS distributed, it would be pretty easy for them to vote on the adopted blockchains.

I have found another nice point there: wallet that holds less than 1 EOS Token or another minimum amount could be ignored by the person who configures and launches the EOS Platform - Which makes me think that since it is a person who launches and configures the EOS Platform and he can decide what amounts of EOS to ignore or not, then it seems to me like a bit of centralization. Although I might be wrong and I may not understand this correctly.

I thought you are from US, but now I guess you are not, since you are interested in EOS token distribution.

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cryptographic (64) · 7 years ago

Quite an eye you have there!

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charitybot (63) · 7 years ago

Wouldn't be the first time he made a centralized platform that was designed to ignore the little guy. :D

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mywhale (53) · 7 years ago

Hello @cryptographic,

Accumulating 15% of EOS tokens is a myth.
Total Supply : 900,000,000 EOS
One EOS : 7.87 USD
15% EOS Supply : 135,000,000 EOS
15% EOS Worth : 1,062,450,000 USD

I'm confused with these figures.

21. When will I receive native cryptographic tokens on the EOS Platform?
As mentioned above, EOS Tokens will become fixed (non-transferable) on the Ethereum blockchain within 23 hours after the end of the final EOS Token distribution period which will occur on June 1, 2018 at 22:59:59 UTC. At this point the EOS Token distribution process will be complete and any person who wishes to launch an EOS Platform adopting the EOS.IO Software will be able to generate a JSON file mapping EOS public keys to the fixed balances of the EOS Tokens from the state of the Ethereum blockchain.

The EOS.IO Software is built such that any EOS Platform that adopts the EOS.IO Software will require approval of holders of not less than 15% of the total issued and outstanding EOS Tokens before tokens on such blockchain (the “Blockchain Tokens”) can be transferred. In other words, if the EOS.IO Software is adopted, it will be the responsibility of holders holding at least 15% of the issued and outstanding EOS Tokens to adopt one or more blockchains in order for Blockchain Tokens received on such blockchains to be transferrable.

As block.one will not configure and/or launch any EOS Platform, block.one will have no control over when, how or whether the EOS.IO Software is adopted or implemented, or how, when or whether the EOS Platform is launched. As such, you should not expect and there is no guarantee that you will receive any other cryptographic tokens or digital assets now or in the future.`

Source :- https://www.eos.io/faq.html

~@mywhale

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tsto (47) · 7 years ago (edited)

Total Supply = 1,000,000,000 EOS
100,000,000 were kept for the developers. These 100,000,000 EOS tokens are attached to voting rights as well. That means that the Block.one team and all the developers around them do own exactly 10 % of the total EOS network and 10% of the voting power, which is fair. Once EOS will be launched, they will not be able to impose or manipulate any consensus with 10 %.
15 % for a consensus being reached for launching a new chain is not a lot. That means that a small minority of the community is allowed to launch a project. No majority required as we are used to. What is unfair ?
That means even if the complete block.one team would like to launch a chain on EOS, they would not be allowed to do so if nobody follow them as they do not own 15 % of the tokens. Unfair ?
T.

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gbengaremi (47) · 7 years ago

Yeah, basically after June 1st when all the tokens are distributed according to the proposed formula, the assets become fixed. And then to transfer would require 15 percent approval, which IMO is awesome.

What I don't understand is the new "Blockchain Token" that would now be created. Are these EOS? Or just built on EOS platform? Is there an EOS blockchain? Or would it be built after June 1?

Obviously still got a lot to figure out.

$1.11

cryptographic (64) · 7 years ago

What I don't understand is the new "Blockchain Token" that would now be created. Are these EOS? Or just built on EOS platform? Is there an EOS blockchain? Or would it be built after June 1?

Or even multiple independent EOS based blockchains?

As you say, lots to still figure out here.

$4.60

rasamuel (63) · 7 years ago

I was sort of confused at first if they meant a single holder of 15% or various holders with a total of 15%. The former, obviously, would mean that a single investor might have too much influence, which, taking block.one's decision not to buy any EOS themselves, they wouldn't want. Because according to them they wouldn't want to control anything. So why give up control only to let another have it? One who you can't be sure would take the right decisions anyway?

The latter of course is more reasonable, but might still have its drawbacks. Like a network of certain players having huge control. Obviously the main purpose of the whole thing is decentralization and check, and a sort of Proof-of-Stake mechanism.

I still don't understand why American arent allowed to hold EOS tho. Does that mean no American can own it ever?

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cryptographic (64) · 7 years ago (edited)

Your confusion is my confusion. 😂

Sometimes we over analyze too. It's hard to say sometimes where to draw the line. I like to think that where there are answers, the confusion gets cleared up. Sometimes answers are hard to come by due to communication issues. Other times it's outright obfuscation. The latter never gets cleared up, while the former eventually becomes clear. I think we're working with the latter in this case and am slowly beginning to understand. Things really look quite reasonable and well balanced to me.

To answer your question, I think the American exclusion is only for the ICO period, but I'm not 100% sure.

$2.30

5 votes

rasamuel (63) · 7 years ago

Check this out, @cryptographic. Don't know if you've come across it. It was only built recently, tho, by a steemian.

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cryptographic (64) · 7 years ago

Thank you for that. It sounds like they plan to operate on an EOS blockchain that will be a common blockchain used by all EOS DAC's, each being block producers. That seems logical, and would be even more so if there was a "core" EOS community supporting that blockchain, but with the blockchain needing to be "boot strapped" by an outside, independent entity, one wonders if that will be the start of a common chain that others will be able to join as equals, or a completely autonomous chain in and of itself.

$4.25

aka8888 (50) · 7 years ago

cool comparison. good article

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thorr (47) · 7 years ago

In other words, if the EOS.IO Software is adopted, it will be the responsibility of holders holding at least 15% of the issued and outstanding EOS Tokens to adopt one or more blockchains in order for Blockchain Tokens received on such blockchains to be transferrable.

You can read full article here

$1.00

cryptographic (64) · 7 years ago

Very nice. Thank you!

$4.50

kartiksingh (65) · 7 years ago

“EOS Tokens will become fixed (non-transferable) on the Ethereum blockchain within 23 hours after the end of the final EOS Token distribution period which will occur on June 1, 2018 at 22:59:59 UTC. At this point the EOS Token distribution process will be complete and any person who wishes to launch an EOS Platform adopting the EOS.IO1 Software will be able to generate a JSON file mapping EOS public keys to the fixed balances of the EOS Tokens from the state of the Ethereum blockchain.
The EOS.IO1 Software is built such that any EOS Platform that adopts the EOS.IO1 Software will require approval of holders of not less than 15% of the total issued and outstanding EOS Tokens before tokens on such blockchain (the “Blockchain Tokens”) can be transferred. In other words, if the EOS.IO1 Software is adopted, it will be the responsibility of holders holding at least 15% of the issued and outstanding EOS Tokens to adopt one or more blockchains in order for Blockchain Tokens received on such blockchains to be transferrable.”

Perhaps some programmers out there can explain JSON file mapping. My take is that you holders of ERC20 tokens can redeem for native EOS tokens. It doesn’t go into detail how this is done. I do have some reservations as to how this is rolled out. Additionally, the EOS team has emphasized repeatedly that the EOS ICO distribution excludes USA citizens. Would this affect US holders of the ERC20 token from redemption? If a US citizen holds non-transferrable ERC20 tokens and cannot redeem, then they become worthless. I don’t know the answer to this, but would welcome comments.

My concerns above have no bearing as to the enormous potential of EOS as a platform. I think it will be amazingly successful and I want to be vested through token ownership. But questions remain.

On another note, I expect that ERC20 token prices to fluctuate in the short term, and have not insight as to the recent 150% run up. But the run up summer of 2018 prior to the end of token distribution may be huge. So accumulate now!
Source

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ellianaa (47) · 7 years ago

This is wonderful news the more exposure EOS gets the greater the platform will be especially with this type of investors.
I think, the Eos is something extraordinary was born from a great thinker, Yes, this is pretty amazing, and it's not only the best thing about crypto.
The underlying technology is blockchain as the backbone, which is famous because of the way secure transactions and noted cryptocurrency effectively.

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faissalchahid (1) · 7 years ago

The most thing I liked about it is that it produces EOS.IO software as free, open source software. This program may enable those who publish it to launch Bloxin or Decentralized applications with a lot of features
. block.one Plucheen will not be released based on the EOS.IO program. The sole responsibility will be by third parties, the community and those who wish to become mass producers to implement the features and / or provide a range of services as they see fit. block.one does not guarantee that anyone will implement these features or provide such services or that the EOS.IO software will be adopted and published in any way.
All data contained in this document, other than historical fact sheets, including any data on Block Action Strategy. Plans, expectations, developments and targets are forward-looking statements. These statements are mere predictions and reflect the current Block.one objections and expectations regarding future events and are based on assumptions and subject to risks, uncertainties and changes at any time. We are working in a rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you are warned not to rely on these forward-looking statements. Actual results, performance, or events may differ materially from results in forward-looking statements. Some factors that may cause actual results, performance or events to differ materially from the forward-looking statements contained in this document include, but are not limited to: market volatility; continued availability of capital, finance and staff; product acceptance. Commercial success of any new products or technologies; competition; regulation and government laws; and general economic, market or commercial conditions. Any forward-looking statement made by block.one only speaks as of the date on which the block.one is under any obligation and expressly disclaims any obligation, update or change the forward-looking statements, whether as a result of new information, subsequent events or otherwise.

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serkagan (65) · 7 years ago

A good question, and he also interested me, but this statement EOS FAQ 21 means simply that 15% of the amount should be confirmed by the network to get tokens. Thank you @cryptographic

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lovecreativity (45) · 7 years ago

Thanks for sharing information.

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azizulhassan (65) · 7 years ago

well i am trying to figure it out ii mean since its being now that much time i am in crypto just few months but yeah i have heard of that but naver got to learn about it

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venox (48) · 7 years ago

@cryptographic Maybe they are trying to dominate the EOS market. So they made it that way

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expertroyal (48) · 7 years ago

EOS will allow for the creation of an extremely efficient and scalable network. EOS “shards” will enable Iryo to create an extremely dynamic yet super lightweight chain resulting in lightning fast transactions. Sharing vast quantities of medical data between subjects of trust, such as doctors, specialists, and researchers will ultimately be less expensive, less time consuming and yield greater value for patients around the world.

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mukhlis89 (49) · 7 years ago

Very good post, this is very useful for everyone and especially for myself. Actually I still do not really understand tente EOS. I just learned about it all, because I just joined in steemit and I am still learning about Bitcoin, Crypto, EOS and about the market. Therefore I can not give an answer to your question. Because I am still in the learning stage for all that. Thanks for sharing and hopefully I can continue to learn and gain useful knowledge in your post.

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asif4745 (52) · 7 years ago

thank you so much for share with us

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postpromoter (63) · 7 years ago

You got a 0.98% upvote from @postpromoter courtesy of @cryptographic!

Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!

$0.00

aowal202 (45) · 7 years ago

Thanks for share your opinion. And Once EOS will be launched, there will be multiple chains projects inside EOS. Anybody can start a chain. As EOS holder, you will have to vote for the chain(s) project(s) you believe into.
As I understand there explanation, a new chain will be allowed to be launched if minimum 15 % of the total amount of EOS = 150'000'000 are voting for (1 token = 1 vote) this is the consensus in that precise situation, then only, people will be allowed to start a new chain, transfer there tokens inside the new chain and developers of apps start building inside. To host an application inside a chain will immobilize some tokens which will be freed once the app is taken away.
Did I miss-understood ?
Have an nice tuesday

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gold84 (63) · 7 years ago

@cryptographic ! Thanks for placing this important aspect about EOS, and seems @tsto has explained this thing in very simple words. If its the way he mentions, we do not need to worry that much, right?

Regarding the EOS we have today in ERC20 wallets, we will have to do something before June? Or when is the date?

Are you holding some EOS, or you decided not to, because of the factors we discussed some time ago?

By the way, I recently made a post about how low the price of BTS is now, and mentioned you and your recent post.
https://steemit.com/promo-steem/@gold84/great-opportunity-to-buy-bitshares-bts-bitshares-at-0-18-cents-today-with-steem-at-usd3-25-is-like-bitshares-0-055-cents-when

Looking forward to your thoughts!

Regards, @gold84

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steemwija (58) · 7 years ago

@cryptographic - Sir I don't know what it actually means... But Sir, this statement is good for ICO stage to gather more investors but Sir now... I don't think it's a worthy decision... Sir Steem token project SMT has no such madness... (Sir I think this 15%limitation is a madness)
With this statement this decentralized platform (EOS) is being control by 100/15 = 5 to 6 investors who invested on this project at ICO stage... Sir then how we define decentralization behavior of EOS token Sir...?

+W+

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kickup008 (46) · 7 years ago

Cool comparison and article . Thank's for sharing.

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arindomdey (41) · 7 years ago

its a question mark if anyone ask something to anybody then evrybody use this symbol......😃😃😃✌✌✌

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munazza (54) · 7 years ago

Well i am new in crypto and i have heard of EOS the first time and i understood a little bit :)

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currysonlyson (50) · 7 years ago

Ya, basically you're going to need the approval of others before you can transfer. I think it's just another variation of "Proof" in blockchain technology. Proof-of-Approval Proof-of-Consensus whatever.

The implication is that you can't just adopt new blockchains anyhow, because that, obviously, affects the investors. So it's good to say okay let's have a consensus of reasonable holders to decide.

Only problem would be if there's a whale or something who control shit, but I don't think that would happen, would it? I mean that's the whole point of the a*(b/c) isn't it?

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no-won (50) · 7 years ago (edited)

EOS has always been a head-whirler for me. You read all these amazing stuffs about it, and then you read about how it's all just speculation.

I love their formula of distribution; I love their ambition; I love @dan. But sometimes they do things to your head. First why don't EOS have its own blockchain? Then apparently the EOS tokens are usesless!? Wtf!? How can something be useless and have value at the same time?

Now comes the part where when you finally get your token its fixed. And then its not fixed again and can be transferable once you have the vote from 15% of holders. Now comes another token that is not EOS but "blockchain tokens". And then comes @dan talking about building the new steemit on EOS--that doesn't even have its own blockchain--when block.one, of which he's a part--promises not to buy any EOS.

So please, pardon me If i choose not to be a part of the EOS conversation.

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buildawhale (74) · 7 years ago

You got a 1.47% upvote from @buildawhale courtesy of @cryptographic!
If you believe this post is spam or abuse, please report it to our Discord #abuse channel.

If you want to support our Curation Digest or our Spam & Abuse prevention efforts, please vote @themarkymark as witness.

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resteemia (56) · 7 years ago

my personal view says they (dan) is trying to control ico market place. i also went through few eos related topics & found a lot of bad review of it. i don't know whether they are right or wrong. but the sound of you quoted faq section interpret as 15%+ stake holders are controlling everything. it's not even possible now & i'm finishing my comment by quoting from bitcointalk.org forum. @cryptographic

Quote from: jman0war on August 24, 2017, 03:45:04 PM
EOS does sound interesting and I heard Dan make some good points when shilling for EOS. But what i don't get is why would people buy EOS tokens today? They won't be used on the anticipated future EOS blockchain, and i didn't see anything in the whitepaper about awarding equal value.

@resteemia
resteemed & upvoted

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faizan07 (48) · 7 years ago

I maybe think that they want to give certain powerful investors a little bit credit by giving them some powers relating the decisions etc. Otherwise there is no fun of doing it. Rest they know it better. Moreover someone who wants to earn the 15 % voting right for himself needs to put in a lot of money to do so. So it could be a great trend of increasing the investment.

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jaedea (43) · 7 years ago

hi @cryptographic
I would like to say that I have very little knowledge about EOS and would like to learn a little bit more about it! From what I know, EOS is a platform that could be the next Ethereum! I have read somewhere that EOS is an OS but, to be honest, I don't know what it does! I came across EOS when it spiked around mid-January, but since my focus was towards another crypto, I completely missed the chance to learn more about it! And could you please suggest the source of the information that you provided here?

I am happy to inform that I have started writing an article based on your suggestion and is planning to post it within the next 3 days, I had to do a lot of research based on the companies which took me quite some time! I am currently writing another article too which I am planning to make a series to help the newbies here!
I would like to thank you for the support you have shown!

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cryptographic (64) · 7 years ago

Comprehensive articles often take a lot of work. Sometimes you even ask yourself it it's worth it. Believe me, I know! But there's no way around it. If you want to write something good, it takes effort.

Good going. Can't wait to see it.

And coming back to EOS, the same can be said. Hopefully working together can help make things easier, and hopefully this thread will demonstrate that!

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nudimar (38) · 7 years ago

I'm looking for you guys. Keep up the good work.

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minnowhelper (53) · 7 years ago

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adson (60) · 7 years ago

Good post can we learn together,
Yesterday I had read about EOS,
The EOS Token is ERC20 designed and custom-built for ICO purposes. In the first five days of sales, approximately $ 185 million was raised in ether, totaling 651,902 ether (ETH) for 200 million EOS tokens.

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mathemandy (55) · 7 years ago

Can Eos be likened to witnesses on the Steem Platform!
Do they come with the same kind of power?

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hamidaitlahcen (42) · 7 years ago

First of all thank you for your very valuable participation
One aspect that holds potential benefits to EOS is the way its platform is built, giving it scalability. The platform can handle a large volume of transactions quickly and at a lower price. Eth, however, has an important feature missing from EOS: Eth is the largest network in terms of the number of Tokens, developers and products. It should not be forgotten that Eth developers are currently working to introduce huge updates to increase the scalability of their platform. "We are still looking at whether EOS will be able to catch up with the growing efficiency of the etherium network and precede it before etherium shows its ability to solve the expansion problem."
The IPO market is currently characterized by fear of FOMO and over-saturation
Medallion warns of the speed of new projects on the market. This speed exceeds the capacity of investors to absorb, and does not give them sufficient time to perform the necessary screening and investigation before entering a new project. The initial roll-out is increasing day by day. There is a growing sense of fear that investors are missing out on high prices for some projects, and there is plenty of talk about improvements. But Medallion says, despite all this, it is clear that EOS is different from other projects, it is a safe project for those wishing to invest in the currency, and explains:
"The new EOS strategy is based on a new strategy to extend the initial offering period for a full year, allowing the investors to have the time to look in depth at the currency before taking the final decision. They have higher incomes, and they will implement their vision. "
While encrypted currency enthusiasts know all about IPO issues, new investors are still unaware.
There are widespread concerns about investing in newly introduced currencies, without a real understanding of the technology that operates these currencies. Bitcoin.com released survey results showing that 50% of the currency auctions offered failed in 2017 to the public in 2017. The EOS technology, and its new sales strategy, may show a new paradigm in the world of alternative coded currencies. @cryptographic

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