EOS Review: Why This ICO Promises to Be Big

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It’s time to have another look at EOS token perspectives as its price comes closer to $2 after a two-month-long period of staying around $0.5. Looks like EOS token is on its way to new heights with its market capitalisation now about $1 billion. What is even more interesting, EOS price calculated in bitcoin almost didn’t change for three months in a row, so we can suppose that the market believes in EOS as strongly as in Bitcoin (the orange line below).

Source: coinmarketcap.com

If you didn’t yet decide for yourself whether this token is worth your closer attention, here are some of my observations.

1. The White Paper

The EOS White Paper offers a comprehensive and detailed overview of the platform.

Long speech short, EOS blockchain will be capable of supporting millions of users with lightning fast fee-free transactions while creating a comfortable environment for businesses building decentralized apps.

You can read my EOS White Paper Digest where I summarized its main points.

2. The Team

The team of block.one, the company behind EOS, includes true blockchain veterans.

CTO Dan Larimer has already successfully launched two functioning blockchains: BitShares and Steem. He is credited with inventing the delegated proof-of-stake (DPOS) consensus algorithm and the concept of Decentralized Autonomous Corporations (DAC).

CEO Brendan Blumer is a serial entrepreneur in the technology space since the age of fifteen. He has been involved in the blockchain industry since 2014 and is an active speaker at various blockchain conferences.

The team’s Head of Strategy is Brock Pierce, an entrepreneur and venture capitalist who pioneered the market for digital currency in games. He is the Chairman of the Bitcoin Foundation, founding board member of Mastercoin (inventor of the ICO), and an advisor to Bancor.

Advisor Ian Grigg is a financial cryptographer with over twenty years experience, the inventor of the Ricardian Contract and co-inventor of Triple-Entry Accounting.

3. Roadmap, Codebase and Beta Preview

EOS.IO codebase is open source with the preview version code and documentation available at GitHub.

The software roadmap is clear and we can see the progress made. Currently it’s already possible for developers to launch a private testnet to run a node, execute transactions, develop and run smart contracts. The next release planned for early December will bring forth a public testnet and developers will be able to test their work in the public environment. It’s highly probable that the token price will moon after this event.

4. The Token Value

EOS is meant to be a business-oriented blockchain operating system, so its token value is tied to supply and demand of resources such as bandwidth, log storage, CPU, and RAM. With a growing market for blockchain-based decentralized apps we can expect a significant demand for native EOS tokens.

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Notes

  • Disclosure: The author owns EOS tokens.
  • All opinions in this post are the author’s alone. You should be aware of the risk of loss before trading or holding any digital asset.
  • This post is not an endorsement by EOS.IO or block.one.

First published on Steemit

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