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.
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Ok, so this is the same like in Steem... But if you run your private chain would you need many of them?
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Does this article means death to other cryptos like Bitcoin, Ethereum and etc. because EOS is faster ?
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I found the white paper... so will give this one a read... looks interesting... :)
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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.
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This post reflects also on EOS. This is another view: https://steemit.com/eos/@jerrybanfield/best-time-to-buy-eos-or-any-new-cryptocurrency
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