EOS - Peeking under the hood - Series launch: Yet another ico?
This article is the first of a series, in which i will try take a closer look at EOS, a 3rd generation blockchain, that promises no less than to disrupt the existing crypto world.
A bold claim, of which we have heard so many already though...
There's been increasing buzz around EOS lately and for quite a while i tended to disregard it as yet another ico, pushed by notorious evangelists, in hope of it to become the next bitcoin (and presumably repeat the ridiculous gains from last year).
This first-glance-view is not so different from the take-home-message of the recent John Oliver Show, that ridiculed crypto in general and EOS in particular. And for sure they did not pick out EOS by mere chance, as there are so many aspects of the ico resembling textbook scam patterns (tokens with no purpose, implementation done by undetermined 3rd party, no dedication of collected funds, ambassador with shady past).
This is not to give a top level overview here, or discussing the structure of the ico, this has been covered extensively already, here are just a few (rather arbitrary) links on that:
EDIT: Here's another excellent article, that provides an excellent overview: https://email@example.com/eos-researchpart-1
Apart from such overviews, it quickly gets obscure, when you try to do your due dilligence as investor: there are quite a few discussions going on, that sound confusing, as long you are not familiar with premises or established platforms like steemit.
What i intend to find out is, HOW specifically EOS is intended to deliver on its claims to become the next gen blockchain tech. To start with, here's a quick overview of its core features:
- Scalable and high speed blockchain based on Delegated Proof of Stake Consensus
- Infrastructure (providing user accounts, storage, etc.) to serve as operating system for dapps and child-blockchains
- Decentralised governance via a constitution
- The EOS blockchain is to be launched by the community (rather than EOS.io)
There might be more, but imo these are the central functional claims made by EOS which set it apart from most other crypto-setups and, if successful, will solve central issues of well established cryptos like bitcoin and ethereum.
In the following series i will look into how these features could actually can come into effect. This means checking the software provided, establishment of the blockchain process and community efforts. All of these need to be solid, for EOS to be able to operate as expected. In detail these are the topics to be covered, follow the links to the rest of the articles:
- Block Producers & Blockchain activation
- Are software & framework, etc. solid?
- SteemIt - Proof of concept & lessons learned
- EOS constitution, how does that work?
At the end i hope to be able to provide a clearer view about the solidity of the project, which will likely influence my own investment decision, and if i will throw in more than just the few gambling bucks at stake right now.