EOS, a blockchain handling system designed to support blurb decentralized applications, today announced serve sum for the digital token placement to be launched on Ethereum. Set to open on Monday, Jun 26, EOS’s token placement follows a singular appearance indication that will take place over the course of one year.
Brendan Blumer, CEO of block.one, the open source program and blockchain company developing EOS said:
“To safeguard inclusivity, EOS are not sole for a bound price, but sole at a cost dynamic by marketplace demand; this mimics mining but does not offer astray advantages to vast purchasers.”
block.one will discharge one billion EOS ERC-20 concordant tokens, called “EOS tokens” over 341 days starting on June 26, 2017, at 13:00 UTC following the next schedule:
- 20% of EOS Tokens (200,000,000) will be distributed during the first 5 days of book opening.
- 70% of EOS Tokens (700,000,000) will then be separate uniformly into 350 uninterrupted 23 hour durations of 2,000,000 EOS tokens each starting July 1, 2017.
- 10% of EOS Tokens (100,000,000) will be indifferent for block.one and can't be traded or eliminated on the Ethereum network.
EOS is being designed to scale mainstream growth for vast enterprises, now unsupported by existent blockchain platforms. EOS introduces asynchronous communication and together estimate to support millions of exchange per second, aloft than that of Facebook and Google at 52 and 40 thousand per second, respectively.
EOS is being designed to support distributed applications that have the same look and feel of their centralized counterparts, including expelling the requirement for the user to compensate for every transaction. This enables new blockchain users to get concerned but carrying to navigate the formidable routine of purchasing a cryptocurrency and should assistance to coax the industry. It also means any type of focus can be built, run, and governed by EOS’s handling system, formulating a new turn of clarity for business.
The extended EOS group is being led by blockchain veterans:
- Brendan Blumer, CEO: Involved in the blockchain attention since 2014, Brendan is a sequence businessman who has built businesses including trade of practical currencies in MMORPGs in the US, okay.com in Hong Kong and 1Group in India.
- Daniel Larimer, CTO: A sequence businessman focusing on innovative technologies trimming from practical existence simulators to second-generation crypto currencies, most particularly BitShares. Dan is a dilettante in program growth and the contriver of the widely adopted “Proof of Stake” and “Decentralized Autonomous Corporations” concepts.
- Brock Pierce, Partner: A try businessman and businessman who pioneered the marketplace for digital banking in games and has lifted more than $200 million for companies he founded. Brock is the Chairman of the Bitcoin Foundation, and co-founder of Blockchain Capital, among others.
- Ian Grigg, Partner: A financial cryptographer who has been building cryptographic bill platforms for over 20 years, Ian is the contriver of the Ricardian Contract and the co-inventor of Triple-Entry Accounting.