EOS - Peeking under the hood - Series launch: Yet another ico?

in #eos3 years ago (edited)

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).

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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:
https://steemit.com/eos/@bbrewer/10-things-you-should-know-about-eos -
https://steemit.com/eos/@agamsaia/what-is-eos-cryptocurrency


EDIT: Here's another excellent article, that provides an excellent overview: https://steemit.com/eos/@matt.burniske/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:

  1. Block Producers & Blockchain activation
  2. Are software & framework, etc. solid?
  3. SteemIt - Proof of concept & lessons learned
  4. 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.

Hope you found that piece interessting. Please upvote or resteem and help spread the word.
No matter if you agree, object, or feel something is missing, please throw in your thoughts and comments!

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Thank you for upvoting my post today.

I see we both share similar passion towards cryptocurrencies and blockchain technology :)

Upvoted and followed. Hope you can follow me in return and I hope you will like my content. Im also quite new here but Im trying to do my best to build a presence in this community.

Cheers, Piotr

As i needed to edit the article (to link to part 2) I've also added a link to your latest article ;-)

Followed to make sure I read the rest of the posts. I'm curious about these same things - thanks for diving in and finding out about it.

That's awesome, followed back! Btw. Part 2 is out already, followed by another on Friday hopefully :-)

Good and well structured post, I'd be happy to follow the continuation of your series on EOS. Block.one will launch the main chain and this will most likely be the leading one. I can't wait to see first apps running on EOS. Who knows, maybe one day there will be SOS (Steemit On Steroids) running on EOS (Ehtereum on Steroids). Resteemed.

Glad you like it and special thanks for resteeming. I will look into the establishment of the EOS blockchain in the next part, and yes there should be loads of dapps waiting to , didn't dan announce a steemit killer app recently?

I'm not keeping up to date with all the announcements, but that'd be interesting. I like steemit but the real game changer would be a social media platform with real identities, real life connections etc, something like facebook. Not sure how such would work though on transparent blockchain as most people rightly prefer to keep their wealth information private. Maybe it's just another problem to be solved.

it was just a line in a telegram chat, so nothing really concrete, but let's see what's coming up....

Thx please consider an upvote...

This post was resteemed and upvoted by @otobot and for Upvote and Resteem to 3800+ Send 0.05 SBD or STEEM with URL in Memo thanks to: @conceptskip