The Dawn of EOS.IO

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The Dawn of EOS.IO
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•••
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••
The Dawn of EOS.IO
2 days ago
eosio62 in eos

In the EOS.IO Technical White Paper, we proposed the EOS.IO software as the dawn of a new era of blockchain computing. The EOS.IO development team has spent the summer working very hard. Summer is over and the development of the EOS.IO software is ahead of schedule. It can now be used with distributed network configurations. We have a lot of exciting EOS.IO software developments to report so be sure to read to the end!

Proof of Performance
Now that the EOS.IO software can be used in distributed network configurations we can benchmark its performance. Our internal testing shows that the software is currently able to sustain over 10,000 single threaded transactions per second on a multi-node network. This puts it on track to support over 1 million transactions per second on machines with over 100 CPU cores.

Advancements in Design
Developers will be excited to learn that our latest architectural software improvements make it easier than ever to build parallel applications that communicate with each other.

Shared Database Access
We have now enabled one application to read the database state of another application without requiring complex asynchronous communication. We achieve this while preserving the ability to execute in parallel by allowing each transaction to declare the scope (data range) that it needs to read or write access to. Block producers will schedule transactions so that there are no data conflicts.

User Local Storage of Application Data
In addition to supporting read access across accounts, applications can now store data on other accounts. This means a currency contract can store the balance on individual user accounts rather than within its own scope. A transfer from Alice to Bob only requires read/write access to the scope of Alice and Bob and won’t affect the currency contract’s scope. This makes many classes of applications trivially parallel and enables processing of currency transfers in excess of the single threaded throughput limit. As far as we are aware, no other blockchain design supports such a scalable and easy approach to developing parallel software architecture.

Inline Message Passing
It is now easier than ever to send a message to another application and know with certainty that it will be accepted and validated. An application can generate any number of additional messages to append to the end of the current transaction. So long as these generated messages share the same read/write scope and can execute within the allotted time, they are guaranteed to be delivered or the entire transaction will unwind.

This approach is different than the synchronous approach used by other platforms. Synchronous message delivery, which blocks execution of the current thread until it returns, creates the potential for unanticipated reentrancy. Reentrancy has been a source of numerous bugs and exploits because it is difficult for developers to ensure their contract is in a consistent state prior to making a synchronous call. With inline message passing, which delays execution until the end of the current transaction handler, developers can dispatch a message and proceed as if it succeeded. If it fails then the entire transaction will be unwound without any harmful side effects. This means your message handlers are never called in an inconsistent state.

Deferred Message Passing
Sometimes you don’t know if a message is valid or whether there is enough time left on the clock to execute inline with the current transaction. Other times you need to send a message that accesses data outside the scope of the current transaction. In this situation applications can request the block producers schedule a message to be delivered in the next cycle or a future block. If it is valid then your application may be notified; if it is not, then it will never be scheduled and your application can clean up after a timeout.

Unlimited Horizontal Scaling
The latest design advancements in the EOS.IO software gives developers high single-machine performance; businesses can scale to a million transactions per second before requiring a more complex asynchronous architecture.

That said, the EOS.IO software will still support asynchronous message passing among groups of applications that do not need to share state. There are many benefits to async message passing (such as trivial cluster support), but those benefits come with the cost of greater development complexity; the EOS.IO software supports this for businesses that require several millions of transactions per second, but offers a streamlined approach for those that don’t.

Next Generation Network Topology
The EOS.IO software is designed to empower block producers to provide a high performance decentralized infrastructure as a service. Application developers need more than a set of block producers aggregating transactions, they need API nodes, seed nodes, database indexes, storage, and hosting.

High performance blockchains demand high performance network architectures with very different requirements from existing blockchains. At a million transactions per second each node is required to achieve 100’s of megabytes per second per connection. This is trivial for large data centers, but inconceivable for home users.

Additionally high performance blockchains consist of heterogeneous nodes running different subsets of the blockchain and will likely prune the transaction history. This is a significant departure from prior blockchain systems where all nodes are identical and have a full history.

A traditional blockchain consists of a dynamic set of randomly connected nodes in a mesh network. They target home users with limited bandwidth and are designed to traverse home routers (NAT) and dynamically add nodes to the network. Our observation is that this architecture is not well suited for high performance blockchain infrastructure.

The EOS.IO software starts with the assumption that all nodes are intentionally connected to each other. Node operators work together to ensure the network topology is secure, well planned, and efficient. This allows block producers to establish direct (and secure) connections to each other and prevents attackers from scanning the entire network topology looking for nodes to shut down.

The block producers will host public endpoints which anyone may connect to and subscribe to any subset of transaction data they desire. This will minimize the bandwidth requirements for full nodes operated by non-block producers. Nodes that do not want to trust a single block producer may either subscribe to multiple sources or wait for confirmation by ⅔ of the block producers (about 45 seconds).

The benefit of this architecture is that new nodes can connect and synchronize at very high speeds from high bandwidth infrastructure provided by the block producers. Furthermore, this architecture is designed to facilitate efficient unidirectional streaming rather than less efficient bidirectional protocols.

At scale, block producers will be operating a new internet backbone powered by EOS.IO software. Block producers will be like Tier-1 Internet providers with dedicated fiber optic connections across continents. These producers will operate data centers that Tier-2 subscribers can connect to. Tier-2 includes anyone looking to run a full or partial node or a large application. For example, services like block explorers, web wallets, and crypto-currency exchanges would be Tier-2 subscribers to the block producers.

We feel this architecture of intentional cooperative network building will enable block producers to offer a quality of service unique in the cryptocurrency industry.

The Road Ahead
In September of this year, block.one will be releasing EOS.IO Dawn 1.0 which should be stable enough and well documented enough for anyone to launch their own test network upon which they can build and deploy their applications. EOS.IO Dawn 1.0 will be the first pre-release of our EOS.IO SDK (Software Development Kit).

Those who have followed our EOS.IO Roadmap will be happy to know that we are ahead of schedule. Phase 1, The Minimal Viable Testing Environment, which includes a standalone node, native contracts, virtual machine API, RPC interface, command line tools (eosc), and basic developer documentation is complete. We will be making a tagged release as “EOS.IO Dawn 1.0”. This phase was scheduled to be complete in Summer 2017 which ends on September 22.

We have already completed half of Phase 2, the Minimal Viable Test Network. This phase is scheduled for completion in Fall 2017 and includes working networking code, virtual machine sandboxing, resource usage and rate limiting, genesis importing, and inter blockchain communication. At this time we already have functional distributed networks and virtual machine sandboxing. We are confident that we will complete Phase 2 on schedule.

EOS.IO Dawn 2.0, the next major pre-release, will come by the end of the year. EOS.IO Dawn 2.0 will include several critical features that are not present in EOS.IO Dawn 1.0 including:

Resource Rate Limiting (preventing spam / abuse)
Merkle Tree Generation (for cross chain communication)
Upgrade Management and Governance
More robust SDK
General Infrastructure improvements
Example Snapshot from ERC20 tokens
The goal of EOS.IO Dawn 2.0 is to be functional enough that one could launch a live blockchain.

One More Thing….
EOS.IO Storage!
For the first time, developers will be able to create and deploy a decentralized application and web interfaces without having to worry about bandwidth and storage costs, or even hosting any servers themselves; this enables a host of new innovative decentralized business models, such as a decentralized YouTube, Soundcloud, or other storage-intensive projects.

In addition to computational bandwidth, native EOS.IO software-based blockchain token holders will now have access to free cloud storage, hosting, and download bandwidth via IPFS / HTTPS; this access can be used without consuming or transferring tokens.

To achieve this, block producers will host files via IPFS/HTTPS for users and allow other users to download those files. Storage resources are paid for through blockchain emissions and are rate limited to token holders pro-rata to their holdings; like the EOS.IO bandwidth model, storage does not expend EOS.IO software-based blockchain tokens and per-token storage capacity will increase over time with block producer hardware upgrades.

The EOS.IO software storage solution can also support public hosting for those who don’t have any tokens; more details will be released at upcoming blockchain industry events occurring in Shanghai and London.

Disclaimer
block.one is a software company and is producing the EOS.IO software as free, open source software. This software may enable those who deploy it to launch a blockchain or decentralized applications with the features described above. block.one will not be launching a public blockchain based on the EOS.IO software. It will be the sole responsibility of third parties and the community and those who wish to become block producers to implement the features and/or provide the services described above as they see fit. block.one does not guarantee that anyone will implement such features or provide such services or that the EOS.IO software will be adopted and deployed in any way.

All statements in this document, other than statements of historical facts, including any statements regarding block.one’s business strategy, plans, prospects, developments and objectives are forward looking statements. These statements are only predictions and reflect block.one’s current beliefs and expectations with respect to future events and are based on assumptions and are subject to risk, uncertainties and change at any time. We operate in a rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you are cautioned not to rely on these forward-looking statements. Actual results, performance or events may differ materially from those contained in the forward-looking statements. Some of the factors that could cause actual results, performance or events to differ materially from the forward-looking statements contained herein include, without limitation: market volatility; continued availability of capital, financing and personnel; product acceptance; the commercial success of any new products or technologies; competition; government regulation and laws; and general economic, market or business conditions. Any forward-looking statement made by block.one speaks only as of the date on which it is made and block.one is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, subsequent events or otherwise.

PROMOTE
eos blockchain eosstorage blockone
2 days ago by eosio62$784.42
668 votes
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kevinwong74 · 2 days ago

$2.04
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avilsd61 · 16 hours ago
Nice :)
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mariachan28 · yesterday
lol hope u guys not miss your chance ;)

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nideo38 · 14 hours ago
This made me laugh and explains it so well. Thank you!
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full-steem-ahead64 · 2 days ago
Interesting meme to use in regard to EOS's disclaimer I'd say, but I like it for that reason! (since he isn't actually looking at her forward :)
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cryptomillion35 · 14 hours ago
Nice, maybe you are interested into this too:

https://steemit.com/cryptocurrency/@cryptomillion/video-games-driving-technology-what-s-next
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dvapump13 · 2 days ago$0.00
Reveal Comment
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eric-boucher67 · 2 days ago
What a powerful token added up to the BitShares family!

Thank you so much for sharing all this information about it and wondering how to go about it if I were to buy some, either via fiat money or cryptos, any tips???

All for one and one for all! Namaste :)
$1.21
6 votes
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zedchamaa34 · 2 days ago
If you want to buy EOS using Fiat money, the easiest way to do it would be through https://www.coinbase.com/ as your first step, here's how:

1 - Open a Coinbase account and link it to your debit or credit card (or alternatively, transfer USD, EUR or GBP to it)

2 - Buy BTC or ETH through your Coinbase account

3 - Send the BTC or ETH to an exchange such as https://www.kraken.com/ to trade for EOS, or alternatively, use services such as https://shapeshift.io/ or https://changelly.com/ (if you prefer to stay away from exchanges)

4 - Once you buy your EOS tokens, make sure you send them to your wallet (this mainly applies if you're going to use an exchange) and DO NOT leave them on any exchange. Buy a hardware wallet such as https://trezor.io/, https://www.ledgerwallet.com/ or https://www.keepkey.com/. Trezor is my favourite hardware wallet and it supports https://www.myetherwallet.com/, which means you can store any ERC-20 token on it, including EOS.

5 - After you receive your EOS tokens into your wallet, make sure that you register them by mapping your PUBLIC Ethereum address to the EOS PUBLIC address. Here's an article which explains how this is done for the EXODUS wallet, just replace anything related to EXODUS with the wallet that you will be using: https://goo.gl/36yDtS

Other helpful articles:

How to transfer EOS ERC20 tokens using MyEtherWallet: https://goo.gl/dgCsyJ

How to update the EOS public key mapped/registered to your ETH Address with MyEtherWallet (MEW): https://goo.gl/TSq52F
$2.11
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eric-boucher67 · 11 hours ago
Wow! Thank you so very much, this is worth a full 100% upvote as it is worth an article in itself! Awesome answer, your teaching, time and dedication are highly appreciated. Namaste :)
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carlosmertens25 · yesterday
I had no idea I have to register my tokens. Thanks for your very clear and through response. @zedchamaa
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zedchamaa34 · yesterday
You're welcome @carlosmertens - you only need to register them once unless you move them to another wallet, in that case you'd need to register them again (as the new wallet would have a different Ethereum public address to the one you were using).

As long as the Ethereum public address of the wallet you're using to store the EOS tokens is mapped to the EOS public address which you would have generated and for which you only hold the private key, then you should be fine once the ICO has ended.
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mentors25 · yesterday
Thanks for the info! Question about No. 4: Why not leave EOS on an exchange?
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zedchamaa34 · yesterday
Because exchanges are a primary target for hackers and get hacked all the time. When you leave a crypto currency on any centralised exchange, you technically don't own it, since you don't hold the private key to the wallet where it's stored, the exchange has it, and that's what hackers are after so they could move that crypto out and into their own wallets. And every now and then, they end up running away with "your" crypto. You're only safe (relatively speaking) if you (and only you) hold the private key to your wallet and no one else. That's why you need a cold/hardware wallet like Trezor, Ledger Wallet or KeepKey - there are other methods of course to hold your private keys but these are very secure and practical - anything else, is playing Russian roulette with your crypto.
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spiritualmatters41 · yesterday
This is very interesting. With Steemit, there is a built-in delay for withdrawal, which should serve as a safeguard of sorts.
Peace.
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digijebz25 · yesterday
If you are waiting on a hardware wallet, can you transfer your EOS to your ETH wallet on JAXX??
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zedchamaa34 · 14 hours ago
I don't think JAXX currently support EOS tokens (https://goo.gl/J88z4R).

Before I received my cold/hardware wallet, I transferred my EOS tokens from the exchange to my EXODUS wallet https://www.exodus.io/ which I downloaded and installed on my computer.

It's still risky, depending on how secure your computer is and whether it has malware or virus on it, especially if it's a Windows machine. Once you receive your hardware wallet, you can then send them to your new wallet's address directly from your EXODUS wallet.

You can find more info about the EXODUS wallet security here https://goo.gl/GW4sw7
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unomas33 · yesterday
I had no idea I even had to register my EOS tokens until I read this. Thanks for posting this info.
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yentl730 · yesterday
Goodmorning Thank you for sharing! Have a nice day
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coins4max25 · 22 hours ago
I had bought EOS from the ICO Page using Metamask. On the ICO Page they have a register button and I did that. DO I need to register the Public Address again via the process mentioned above or do you think that is enough? Please let me know....thanks!
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zedchamaa34 · 14 hours ago
Unfortunately, I don't have any experience with Metamask. But here's how you'd check which public key is mapped to your ETH address with MyEtherWallet (MEW): https://goo.gl/VY9Ypy
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wilku25 · 22 hours ago
Thanks for tips. However, I got question. Do I need to register tokens which I bought on exchange (Kraken) or exchange will do it on my behalf? Thanks
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zedchamaa34 · 14 hours ago
Here's what you always need to keep in mind when dealing with any crypto currency, including EOS. Whoever holds the private key of the wallet where the coins are stored owns those coins.

When you leave your crypto with an exchange, they basically own them and not you, since they hold the private keys and not you. That's why, you should never leave your crypto except on a cold/hardware wallet that only you have access to its private key.

Remember, tokens are never actually stored in any wallet as such, they live on the blockchain, that's the whole point. What lives in your wallet is the private key which can decrypt that wallet and allow those coins to be sent to another address on the blockchain. So your wallet actually holds a key and not the crypto themselves, as those reside on the blockchain.

So, to answer your question, yes, you need to move those EOS tokens from any exchange to a wallet of your choice which supports ERC-20 tokens. You can use https://www.myetherwallet.com/ (known as MEW) for this, but preferably buy a Trezor cold wallet so that you could unlock your MEW wallet safely with it, and that way, your private key for your MEW wallet would be safely stored on the Trezor device which is extremely difficult (if not impossible) to remotely hack (unlike a computer or a mobile device).

Once you move your EOS tokens to your MEW wallet, you need to map your wallet's Ethereum public address to your EOS public address as I explained in my original post. If after some time you decide to move your EOS tokens to another wallet, you'd then need to repeat the same process, otherwise they would be mapped to a wallet that no longer holds them, and you would therefore lose them when the ICO comes to an end.
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bardamazon39 · yesterday
Upload an Exodus wallet. You can trade it with other cryptocurrencies right inside that wallet. It's pretty cool.
$0.06
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eric-boucher67 · 11 hours ago
Thanks a bunch for the suggestion, it is a powerful path to take. Namaste :)
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1 vote
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skyeg325 · 2 days ago
You can buy EOS tokens on Bitfinex or Binance exchange. Or you can send ethereum and receive EOS tokens as part of the crowdsale following instructions on the EOS website.
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eric-boucher67 · 11 hours ago
Thanks a bunch for the straightforward instructions! Namaste :)
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balkrishna1 · yesterday
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ahuruglica52 · yesterday
If EOS succed, its going to be hugeeee.
$1.09
2 votes
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hiroyamagishi63 · 2 days ago
a really amazing project, looking forward to this crypto and planning to invest on it in the near future
$0.48
1 vote
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randomatrix36 · 16 hours ago
EOS - here we come.. I am ready!
$0.45
2 votes
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davidrestrepo50 · yesterday
Greatttt
$0.42
1 vote
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bigbigfish28 · 2 days ago
that's great!i will try to translate it to cn community
$0.38
9 votes
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emerge55 · 2 days ago
im such a huge fan of Graphene and EOS
id like to know if the blockchain replay issues from Steem wont arise in EOS case?

Also, does that mean that node operators will have to keep everyones files?
$0.38
8 votes
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full-steem-ahead64 · 2 days ago
does that mean that node operators will have to keep everyones files?
It depends on what you mean by "node operator". I doubt it, as that is what the IPFS would be used for. However if you meant IPFS nodes then yes, but that is highly distributed and cryptographically very safe.
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anforo50 · yesterday
There was no doubt it could be prepared for a bullish start
$0.32
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heimindanger63 · 2 days ago
When will we be able to try it out? I'm interested in how the IPFS thingy works.
$0.25
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d00b38 · yesterday
The trading numbers look like nobody gives a shit...
$0.15
2 votes
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kingg45 · 11 hours ago
for now, you got to remember people for get things fast and move to the next flavor of the week. wait till the project is ready for people to use ;).
$0.14
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vinukarthek44 · yesterday
still, I don't get the confidence on EOS..... it's being traded but actual users I don't feel it's growing
$0.14
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zedchamaa34 · 14 hours ago
A seed does not become a tree overnight
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juanmiguelsalas67 · 2 days ago
EOS.IO Storage!
For the first time, developers will be able to create and deploy a decentralized application and web interfaces without having to worry about bandwidth and storage costs, or even hosting any servers themselves; this enables a host of new innovative decentralized business models, such as a decentralized YouTube, Soundcloud, or other storage-intensive projects.
I have read this part so many times already! OMFG! A real game changer. Thanks a lot for the hard work to the EOS team!

U guys ROCK!
$0.13
7 votes
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acab1312news58 · 2 days ago
Absolutely wonderful
"rest peacefully and wake up and rage"
Stxs
JOURNALIST
@acab1312news
$0.06
1 vote
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deepwaterscrypto43 · 2 days ago
10,000 single threaded transactions per second on a multi-node network? That makes bitcoin look like a turtle.
$0.05
6 votes
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leprechaun52 · yesterday
It makes bitshars look like a turtle and bitcoin a statue
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full-steem-ahead64 · 2 days ago
As does all graphene blockchains do (BitShares, Steemit, PeerPlays, GoLos....)
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squidlings25 · yesterday
EOS works with super nodes, so it operating using a small what is effectively number of big servers as mentioned in the post with lots of cpu's. So although these figures are impressive, it's not nearly as decentralized as ETH, the government wouldn't be able to shutdown ETH, but EOS would be far easier. I'm an EOS holder because I believe the governments are moving towards crypto, therefore the threat of being closed down is getting lower as the weeks go by.
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tamwin3356 · yesterday
That's not true, ETH is not as decentralized as you think. EOS actually has a decentralization level that is more than a magnitude higher when you take into account the bottlenecks. Mining and normal proof of stake do not make you government-proof - it makes the coin more vulnerable to centralization. In the event of a government crack-down on crypto, EOS holders could just elect trusted block producers in the countries where it's legal. Miners would be moving to those countries anyway, DPOS would just be there instantly. Plus, DPOS block producers can keep their servers in faraday-cage bomb shelters, which solves some of the problems with disaster, nuke, and EMP. Plus, decentralized governance allows EOS to adapt to new situations whereas ETH has a centralized team of developers. Here's a good article:
https://steemit.com/eos/@dan/response-to-vitalik-buterin-on-eos
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greenerz43 · 2 days ago
upvoted and resteemed! love ESO
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aomame39 · 11 hours ago
awesome
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nideo38 · 14 hours ago
This is incredible and it has such huge implications for streaming industries like Netflix and video game companies.

Good work guys!
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lukestokes72 · 2 days ago
Really exciting update! Thank you so much. I got to the stage of compiling the system and was compiling some contracts a while back but got distracted by other things. With all these updates, I'm excited to jump back into it and play around some more.
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leoplaw62 · 2 days ago
I very much like the part about EOS.IO Storage! =)
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jbenticer32 · yesterday
When is the next major catalyst for EOS? There are a lot of negative conspiracy theories circulating.
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bitcoinflood58 · 2 days ago
SCEWEEETTTTT :D Glad I picked up EOS a while ago at some love prices things like this normally make a coin sky rocket nicely done.
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tanayjain135 · 2 days ago
i have one question for you guys.what is more important for you money or time. think about it
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full-steem-ahead64 · 2 days ago
I suspect the answer is time, as Block1 has plenty of capital.
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dev1by051 · 2 days ago
한국어 번역을 게시하였습니다.
I posted a Korean translation here:
https://steemit.com/eos/@dev1by0/eos-io-the-dawn-of-eos-io
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amvanaken51 · 2 days ago
Wow @dan that's so awesome EOS is going to be changing the game so soon 😄 I'm so glad to hear everything is going according to plan! The plan... Of Dan 😎 Keep up the awesome work man!
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charlesx57 · 2 days ago
Very well written, and released at the right moment with markets on full red, I am writing a piece right now about this with an analysis.
Go on EOS, you are about to be a king.

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cloudspyder51 · 2 days ago
Here come the boss, ETH killer, maybe BTC too.
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movietrailar38 · 2 days ago
What an absolute cunt. Just trying to give you a bad name so he can benefit for himself. I agree it is wrong that you are doing all the work and it definitely is fair for you getting a cut for providing him free traffic and a place to advertise.
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full-steem-ahead64 · 2 days ago
Who are you referring to?
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mannyfig195649 · 2 days ago
This post was very informative thank you for sharing
you have my upvote
Keep smiling, reading, writing and voting!!!
@mannyfig1956
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jga49 · 2 days ago
Wow excellent! !! Good work. I think is time to buy more eos. Take advantage of the low prices!!
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selly45 · 2 days ago
Through ‘ github ’, I am watching your hard work record everyday. You guys worked really hard. works on weekends.
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padmakshi50 · 2 days ago
Great to hear about eos!
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cryptotrader201733 · 2 days ago
Great work .....like it
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ujjaval40 · 2 days ago
nice post.thanks to provide info. EOS. in your post i understand what is EOS, it's blockchain process,it's software& storage.. your post really helpfull for me..thanks to sharing...
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nicholas198350 · 2 days ago
I must say a very good job to the entire EOS team! I was on the fence where EOS is concerned, but now that you have released your MVP before the schedule gave me confidence that EOS is truly going to deliver what many saw way before many of us did. You guys are on point and it is obvious that you will deliver. Now I have moved off the fence and now I am in the middle of the arena. I see exciting things ahead. BIG ups to EOS.
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exxodus40 · 2 days ago
Without your own EOS blockchain, how does this impact the ERC20 token? What will it be used for????
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nickeles47 · yesterday
once the EOS token moves to its own blockchain and the community decides to trade a one for one EOS to the new blockchain there will be a massive sell off in ERC 20 tokens because once you move on the ERC 20 EOS token will be useless. whatever the market cap of EOS is will end up being 0 or close to when EOS core is open.
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prameshtyagi58 · 2 days ago
good info. We will keep track how it progresses
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jalai37 · 2 days ago
This is great news for us EOS fans. Thank you to everyone at EOS for all their hard work and dedication in making this progress!
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roshanlal201734 · 2 days ago
congrats to dan, this is a post very intesting and coming time again and again intesting the post.
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jamesahancock13 · 2 days ago$0.00
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holl.boll10 · 2 days ago
WOW NICE JOB I LIKE IT THIS POST
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champmc25 · 2 days ago
Dan Larimer is the Elon Musk of crypto!
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wuhotan29 · 2 days ago
good news
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holycitycomedy45 · 23 hours ago
nice post..follow and upvote
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blockchain-mike25 · 2 days ago
Thanks for keeping an open communication with the community. Always great to see updates on the progress of this project.

One question: How many nodes have been implemented in a testing?

Similar performance can be eked out by current protocols in networks <64 nodes, but performance is significantly limited by a global network.

In addition, since EOS will limit host nodes to Tier-1 connectivity points (meshed network), what balance will be provided to ensure end users are not merely consumers and are in fact full participants. This seems similar to the current Internet setup with ISPs, and the consumer is always the loser.

Not intended as a negative critique, incredibly hopeful about the development being conducted. And again, the open communication bolsters confidence in the project!
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coinjunkie55625 · 2 days ago
I really do believe in NEO.

It seems like people's biggest complaints are that they are merely buying into a "promise" for a platform, rather than a working platform. But the reality is that few crypto projects have even been finished yet. Many of us have half of our portfolios invested in ICO's! So I don't think that's an issue for most of us, if we're being objective.

The other thing is that the year-long ICO makes EOS inflationary. Well, sure. The only way to counter inflation is for interest to meet or exceed the level of inflation. But once the total supply is reached and the project is fully realized, EOS will skyrocket.

Every investment is risky, but high risk means high reward. I think this is the real deal. What are your guys' thoughts?
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ghaaspur43 · 2 days ago
In the first sentence, did you really intend to write NEO?
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coinjunkie55625 · 2 days ago
LMAO no, but I do have plenty of it.

NEO has been on my mind lately, so that probably explains it. :D
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joele53 · yesterday
Next year 1 EOS >= $100
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joele53 · yesterday
EOS storage, rocks!
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tochukwumadubuko34 · yesterday
grand post
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titusfrost69 · 2 days ago
I have been looking forward to this since I heard about it. I will cover this article on my YouTube channel next livestream. Peace.
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thegoliath44 · 2 days ago
EOS is definitely something I have looked into getting and may still do so when I have the money for it. Will continue to watch, thank you for sharing this with us though!
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skyeg325 · 2 days ago
Dan Larimer
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mouach30 · 2 days ago
This is awesome @eosio I'm glad you rekt him here.

I actually had a similar issue happen to me not too long ago with a few people doing the exact same types of things, DMing new users, poaching, harassing, etc.

Nothing is more frustrating than seeing someone try to take short-cuts, and abuse a community you have spent a ton of blood sweat and tears building and nurturing.

Props to you, keep rocking hard man!
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ata2748 · 2 days ago
Good post fruend
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kingg45 · 11 hours ago
EOS is a game changer. ETH does not stand a chance from all the homework I have done on EOS.
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droucil55 · 2 days ago
"this enables a host of new innovative decentralized business models, such as a decentralized YouTube, Soundcloud, or other storage-intensive projects." That sounds really cool! Can't wait for this thing to launch :D
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cqdx35 · 14 hours ago
UPDATE: CHINA BANS ALL ICO'S AND EOS IS IN CHINA
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rebeccaryan67 · 2 days ago
This is very exciting!!! I see EOS as the Ferrari of blockchain technology. I can't wait to see applications built on EOS, racing on the crypto-track.
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sandrina.life46 · 4 hours ago
Well, congrats for it! I am just sorry you have been so badly flagged. I guess people work hard and others get jealous!
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amaliatul45 · 2 days ago
amazing project @eosio. Crypto Life!
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stealthtrader66 · 2 days ago
Exciting times!!
Will Steemit be able to use EOS to host something like dtube or even like a SteemTube?
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prakashghai59 · 2 days ago
Excellent

This is great news..

EOS can now fight it out with Big Centralized Companies...

I only wish buying into the ICO was simpler...so even the not so technical people could participate.

Like if it was available on Blocktrades.us as a simple swap for Steem or SBD or Litecoin/Bitcoin
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full-steem-ahead64 · 2 days ago
You could use blocktrades buy DASH with steem or SBD then shapeshift DASH to EOS. Check out the Exodus wallet that has shapeshift, DASH and EOS natively.
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prakashghai59 · 2 days ago
not too sure about that
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tbnfl4sun48 · 19 hours ago
I give the Exodus wallet a big thumbs up!
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bsingh125 · 2 days ago
Great report...but it is still not very clear to me: who pays for the storage cost? where the storage is locate? Who is making money for storage? If someone can explain in layman's term..thanks in advance...
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dan69 · 2 days ago
We will explain in future posts.
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bsingh125 · 2 days ago
Thanks @dan
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nanowins7744 · 2 days ago$0.00
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bappask36 · 2 days ago
nice post
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shaungerow36 · 2 days ago
Time to buy?
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veliton7744 · 2 days ago
Definitely yes 👍🏻
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shaungerow36 · yesterday
I'm in!
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charliehao32 · 2 days ago
the question is how we who dont know the programming can join in?
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zardoz14436 · 2 days ago
This is awesome.
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bitcoinmeetups46 · 2 days ago
Looking good
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fastdraw0725 · 2 days ago
We have EOS, now all we need are end-users creating their own smart contracts. That will free up a lot of unncessary resources.
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andybets55 · 2 days ago
It all sounds great, but have one concern...

If EOS.IO for file storage through inflation too, that's pretty neat, but doesn't it mean that people who have external storage plans will be subsidising the storage cost of others, such as apps like Viewly, which might have huge requirements?

Maybe I'm not understanding this properly.
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dan69 · 2 days ago
Not really.
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andybets55 · 2 days ago
Whilst I'm very pleased to have a reply from the great man himself, any reasoning would be helpful.

Is this because all token holders receive the storage tokens, and can sell or delegate them to IPFS hosts?

To be clear, the storage would likely be very useful for the app I have in mind.
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fady201736 · 5 hours ago
Great. Thanks for sharing. I'm starting to follow you.
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eikr25 · 14 hours ago
Major cloud providers like AWS, Google, RackSpace, HP, etc., will soon realize the tremendous opportunity to share their infrastructure by investing in EOS as Tier 1 block producers.

Tier 2 service providers will no longer rent Virtual Machine in the near future. The applications will be developing in native EOS infrastructure and running as a Network Virtualized Function.

Completly distributed, IPFS ...
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ghaaspur43 · 2 days ago
Great article, thank you for the detailed explanations
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loum57 · 5 hours ago
Good info.
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azziz25 · 2 days ago
This post was very informative thank you for sharing
you have my upvote
Keep smiling, reading, writing and voting!!!
@azziz
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kranoras52 · yesterday
Nice to hear! If im back at home i will difinitely take a look at the whitepaper.

I was not sure if eos would be legit
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saeedshaikh37 · 2 days ago
your post is very nice, full pack of knowledge and very attractive :-)
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carlosmertens25 · yesterday
Looking brilliant!! I will definitely increase my position this week :)
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ajaykumark37 · 2 days ago
This post was very informative thanks for sharing.
upvoted and followed.

Regards @ajaykumark !!
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max-infeld53 · yesterday
Keep up the great work! Looking forward to seeing more developments!
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zetetrahedron36925 · 2 days ago
Congrats on being ahead of schedule.
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vegeto51 · 2 days ago
Unfortunately it will be undervalued untill ico are taking place , fortunately more for us to accumulate
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rubenalexander68 · yesterday
In addition to computational bandwidth, native EOS.IO software-based blockchain token holders will now have access to free cloud storage, hosting, and download bandwidth via IPFS / HTTPS; this access can be used without consuming or transferring tokens.
EOS storage sounds incredible!!! Could this storage also be rented out?
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ttopswag42 · yesterday
I am still missing out in this. I have tried reading it over ten times. Maybe I might missing something
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simoncase25 · yesterday
I'm super pumped on EOS and have been educating people on how to register them on heaps of FB groups etc.

I'm amazed at how many people are excited about the project but have absolutely no idea that they have to register the tokens...

Then there are droves of uninformed, apparently illiterate people claiming they've read everything there is to read on EOS and their assessment is EOS is a scam coin.

I'm so sure this is going to change the world, I've assisted most of my family and friends in making their first ever crypto purchase. I'm proud to say that every one of them have bought EOS as their first crypto investment :-)

I look forward to seeing the look on their faces when I show them what EOS is worth come Dec 2018 and beyond!
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vovannoviy25 · 2 days ago
Good idea! One more step forward towards a decentralized society.
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matt-a63 · 2 days ago
The graphene ecosystem is on a 24/7 IV drip of the meanest steroids known to the universe!

Excitement ensues.
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syt26 · 2 days ago
Be interesting in it!!! Expect!!
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meurahpasee25 · 2 days ago
Interesting information, thanks for sharing, regards
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arturoalex0045 · yesterday
Me

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richard1025 · yesterday
Thanks for the post looks good but what is the price that can reach in a year? 30$ maximum?
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cristian0740 · 2 days ago
Very good improvements! It was a good job.
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initforthemoney51 · yesterday
Beautiful!
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ronmamita50 · yesterday
Hi @eosio , thank you for informing us about EOS.
I'm resteeming!
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yentl730 · yesterday
Thank you for sharing.
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jaxtaylor34 · yesterday
This is exciting news even though the technical aspects of the updates are out of my realm of understanding (for the most part). What I hear is that the EOS team is doing exactly what they said they were going to do, in exactly the way they were going to do it, and are ahead of schedule.
This is exactly why the crowd funding was spread out over time, those who wanted to wait to invest to see if there was actually going to be a working product first could do so, in fact, all the way through to next year. The whole project is brilliant in my view and I am excited to be apart of it.
peace
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nadaceh32 · yesterday
thanks for the information, this is very useful for me
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hanisullah37 · 2 days ago
Too much token.
I want too like
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wilku25 · 23 hours ago
Upvoted and resteemed! Thanks guys, you doing great work. I am really happy that I am part of this great project. Looking forward to hear more news!
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rogermarx31 · 22 hours ago
I hope that EOS is truly Blockchain 2.0 and ends up being very successful. I hope one EOS is worth $10 by Q1 2018 and then $100 by July 2018 :)
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mabeeski29 · 21 hours ago
Very interesting stuff.
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underbob25 · 21 hours ago
Great progress! Anybody have any idea why the price is diving down after news like this.. I would have thought the opposite
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uchefrancis49 · 20 hours ago
Amazing article am glad I saw this
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arcange67 · 18 hours ago
Congratulations @eosio!
Your post was mentioned in the hit parade in the following categories:

Upvotes - Ranked 7 with 452 upvotes
Comments - Ranked 3 with 182 comments
Pending payout - Ranked 1 with $ 652,23
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bot3531 · 17 hours ago
very nice sharing, thanks for sharing with us i am following with pleasure :)
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turmericrob25 · 2 days ago
So to summarize: you can store (for free?!), you can share, you can scale - I will be getting that SDK.
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darkflame65 · 15 hours ago
I am very excited to launch my theatre token distribution on EOS!!
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piranha32 · 15 hours ago
But what's the use and value of the EOS token if it's not used on the EOS network and just an ETH ERC20 token?..
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tunnelrat48 · 15 hours ago
Ahead of schedule! Nice.

Take your time though, gotta respect that long-term ICO and what it means for both the confidence of the development team and the long-term usability of the platform.
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saifulrahmad43 · 2 days ago$0.00
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virtualgrowth70 · 2 days ago
Great to hear about eos! Love the mention of the following: Proof of Performance, Shared Database Access, Message Passing, & EOS.IO Storage.
The possibility of decentralized (business) application(s) is what I and many others have been seeking and now may look forward too! Will be excitingly awaiting more great news and possibilities of new found technologies!

One of my favorite parts:
For the first time, developers will be able to create and deploy a decentralized application and web interfaces without having to worry about bandwidth and storage costs, or even hosting any servers themselves; this enables a host of new innovative decentralized business models, such as a decentralized YouTube, Soundcloud, or other storage-intensive projects.
shared on twitter

Wishing you continued success in your blockchain master mind pieces that many of us have grown to love @dan!

Best,

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sacred-agent52 · 2 days ago
Well said VG... AND... Dan... YOU are Da Man !!

Thank You 4 what You & Your Team are creating for the ongoing Paradigm Shift !!

Hope You're having a Good Weekend !!

Cheers !!
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full-steem-ahead64 · 2 days ago
Couldn't have said it better myself @sacred-agent! And I like your clever name!
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teamsteem70 · 2 days ago
That's exactly the thing I would have been quoting. Very exciting indeed.
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virtualgrowth70 · 2 days ago
Very exciting indeed!
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ash71 · 2 days ago
absolutely. email 2.0 and actual working decentralized net is a huge thing in my opinion
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virtualgrowth70 · 2 days ago
Absolutely agree!
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full-steem-ahead64 · 2 days ago
Interesting, never thought of email as a blockchain app. Can I get stealth with that? LOL
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ash71 · 2 days ago
sure, why not?
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tanayjain135 · 2 days ago
i have one question for you guys.what is more important for you money or time. think about it
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virtualgrowth70 · 2 days ago
Energy and life!
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full-steem-ahead64 · 2 days ago
That makes 2 questions, since you asked it twice :) I like VG's reply better!
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pugriffs35 · 2 days ago
Exciting news!
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rebeccabe51 · 2 days ago
resteeming and reading tomorrow .. the future is here ... I will be reading posts that break this down for people like me learning this new world.
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twitterbot55 · 2 days ago$0.00
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mrlemmer1150 · 2 days ago$0.00
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ibringawareness60 · 2 days ago
15 min in so far. Very good, thanks for posting.
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mrlemmer1150 · 2 days ago
No problem at all. With so many new ICOs coming out everyday, one gets immune to 'the next big thing.' I have been scouring for days trying to find a couple upcoming purposeful projects which will do good for crypto, the blockchain, and my pocket! But almost everything feels scammy. I read through this post by @eosio and felt pretty excited and immediately headed to their site. Found the video and see that they are in ICO currently with EOS avaliable now on secondary markets as well. Being from the US, i can not partake in the ICO, but i have already purchased on the secondary and will continue to do so. Cheers!
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ibringawareness60 · 2 days ago
Same here. U.S. citizen, and bought on an exchange. Exodus.io is a free desktop "hot wallet" tht stores EOS if you didn't know and don't want to leave your EOS on an exchange. GREAT wallet with beautiful and easy GUI.
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mrlemmer1150 · 2 days ago
Ahhhh, very good, thank you. Was going to look into that tomorrow as I definitely do not want to be keep eventually large sums online for a year or two!
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palme44 · 2 days ago
I also use Exodus and it is really a good option for local storage. If you want to have it even more secure use something like Ledger or Trezor, so-called cold storage wallets.
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ibringawareness60 · 2 days ago
You can also convert to BTC, ETH, others, right within the wallet with a click. Great feature!
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jbbasics47 · yesterday
I made a video on how to participate in the ICO of in the U.S. It is the only way I have purchased EOS. I figure I would contribute directly to the team. Each purchase has been at about the same price of a direct swap if done on shapeshift etc. but do what works for you.

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johnsmith62 · 2 days ago$0.00
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tolkatore44 · 2 days ago
I'm very excited about this, and I'm also glad that everyone in the market seems to be chasing the hottest shitcoin of the week, and leaving EOS alone, which grants me the ability to buy more and more at an extremely discounted price! 💰
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whyknot39 · 2 days ago
LOL
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jbbasics47 · yesterday
Here here!
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geronimo53 · 2 days ago
Exactly! Releasing an MVP ahead of schedule is very rare in the software business. Congrats!
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ibringawareness60 · 2 days ago
Agreed! Bought at $1.87 (U.S. citizen, so on an exchange) which might seem high to some, but yes I also expect it to deliver the goods, see mass adoption, and be worth 1000x that eventually. Hodling. Note to self, buy more.
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an-di25 · 2 days ago
make sure to map an EOS Public Key before the ICO is over, if you are interested in using/transferring your EOS tokens at a later stage.
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ibringawareness60 · 2 days ago
Thank you very much. I knew "something" had to be done by then, but was unsure of how to do exactly what. Very helpful, thanks.
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buuux25 · 2 days ago
Sooooo you think EOS will have a Marketcap of 1,870,000,000,000$?
Thats about 3 times as much as the 5 most valued Companys in the World combined.
If you don't understand basic math, you should imo stay away from crypto...
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full-steem-ahead64 · 2 days ago
I'd say with a steemit rep of only 25 you should be cautious of flame throwing. I'd also add that if you don't have the chops to understand the tech fundamentals your math skills are not relavent. Marketcap is not the be all end all of investing metrics.

@ibringawareness - don't let the naysayers discourage you.
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ibringawareness60 · 2 days ago
Thank you sir or ma'am.
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ibringawareness60 · 2 days ago
I think your calculator is off a bit. $1.87 x 1000 is $1,870. That's less than 1/3 of a BTC (which I first bought at $396, so I think I'm not doing too bad understanding crypto btw).
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alextracy29 · 2 days ago
Hate to burst your bubble but the math he's doing is considering the fact that there will be 1 billion tokens available after the ico. Right now, it's only around 1/3 of the way there(330 million). So if you diluted it at its current price of $1.20, it would be at 40 cents after the ico ends. If your return was 1000x from $1.87, bringing you to $1,870, you would have to multiply that by 1 billion. That's where he's getting that really big number. I see EOS being valued similar to Ethereum. And if the rate of adoption and investment continues, lets say by 2x next year, Ethereum will be around 60 billion market cap. Say EOS is even half of that, at $30 billion, it will be worth $30 a token. If I'm reading correctly, Dan is saying token holders will be able to basically lease out their tokens, which could make it even more valuable. I'd say you're looking at it anywhere between $20 and $100 in the next 2 years. So, I'd say your looking at a return of roughly around 50x. Maybe 1000x in 20 years or something
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ibringawareness60 · 2 days ago
Okay I appreciate the detailed breakdown - all of THAT I definitely didn't understand. But I am a HODLer and all of my crypto is purchased with retirement in mind. So maybe... ty
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simoncase25 · yesterday
There's a few important points your missing there though.

There will not be 1 Billion EOS tokens on the new EOS network as there will be thousands of people who fail to register them (correctly or at all).

Let's say there will be 700,000,000 of them which is still a very large number I agree.

But by looking at current market cap, and trying to apply a ceiling to the EOS price you;re doing yourself a disservice.

check out this graphic showing adoption rates of new tech since 1900

! new tech adoption rates

As you can see, adoption rates skyrocket at the 10% mark and are basically not even recorded until then as the adoption isn't usually high enough to gauge correctly.

Let's look at the market cap of the industries Crypto space will disrupt:

Social Media $592 Billion (combined)

Facebook $434 Billion
Snapchat $18 Billion
Pinterest $11 Billion
Twitter $13 Billion
Linked In $26 Billion
You Tube $90 Billion
Remittances $500 Billion
Global e-commerce Market $22 Trillion
I could go on and on but I think you'd be seeing where I'm going now. We can't look at the ceiling of crypto assets based on the top crypto asset currently. We need to look at the industries they will operate in and apply a reasonable market share to that in order to start looking at a ceiling...

Here's how I value EOS at more than $1k each

EOS tokens will provide businesses with the following:

Domain Name
Hosting that domain name and any sub domains
Computational Capacity to manage transactions
Storage
Security
Trust-less Automation
I've been employed by a big 4 Bank in Australia as a Business Improvement Manager, Project Manager, Senior Manager (Information and Analytics) and I can assure you, these are real world business costs and EOS will not only reduce their costs even at $1k each, they will improve processes and customer experience at the same time (meaning increased profits)

I'm super confident in my method, it will take time for the ball to get rolling but I firmly believe that inside of 2 years we'll be knocking on the door of a $1k plus EOS valuation per token.

More than happy to incorporate new methods and understanding if anything I've stated above seems incorrect or incorrectly applied :-)
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ibringawareness60 · 14 hours ago
Thank you for your time to flesh that view out. I am of course even more confident in holding NEO now, and will look to buy more. AND really study how to correctly register them. Maybe by testing small amounts, just like one's first time sending bitcoin.
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jbbasics47 · yesterday
My thoughts exactly. With added lease potential/delegation. I liken EOS to Steem Power... except not on one platform, but endless platforms. Learning the ins and outs of steemit' framework has help fill in a lot of knowledge holes with real life working examples.
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tolkatore44 · 23 hours ago
Smart man indeed.
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rabinthapa25 · 2 days ago
great
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lifeisfun27 · 2 days ago
https://steemit.com/mcap/@lifeisfun/story-from-bitcoin-mining-to-bitcoingrowthfund-mcap-tokens-and-now-towards-eth-mining
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