10 Things You Should Know About EOS
Here are 10 things you should know about EOS if you don't want to miss out on the next big opportunity in the cryptocurrency space
We can all be among the early adopters! There has been no official announcement about the EOS token distribution model but many are anxiously awaiting more information. Enter your email address in the Subscribe box at EOS.io to sign up for the mailing list if you want to be among the first to know about EOS distribution.
The code is available on GitHub at https://github.com/EOSIO.
There are EOS Telegram chat groups in multiple languages. Below are three that I am aware of. If you know of others, please add them in the comments.
EOS is not an officially defined acronym although many have been suggested, such as Ethereum On Steroids, End of Silence, Endless Online Scaling, etc. My preferred is EOS Operating System.
There will be no pre-mine of EOS tokens. There will be no mining at all. There will be Producers, which are similar to Witnesses in Steem.
The target number of total EOS token supply is 1 Billion with the potential (depending on community votes) of up to 5% inflation per annum. The tokens can be "staked" to power the blockchain's bandwidth, computational power and storage capabilities.
EOS will use the most fair distribution model yet. Speed will not be a factor in obtaining EOS. This means you will not have to worry about being outbid by bots and the like. Did I mention bids? There is some speculation based on old, out-of-date documentation that was briefly available GitHub, that the distribution model will involve some type of auction of the EOS tokens. One thing that has been revealed is that the price will be determined by the markets, so it will not be fixed.
EOS will be the first blockchain with its own constitution. Check out this post by @dantheman: https://steemit.com/eos/@dantheman/what-could-a-blockchain-constitution-look-like
Ummm... EOS will have the capability to process MILLIONS of transactions per SECOND through horizontal scaling! This blows any of the old dogs like Bitcoin and Ethereum out of the water and will make it possible to create dapps that are indistinguishable from their centralized counterparts.
If you plan to run a full EOS node, you will need to be ready to run on Linux/OS X.
Note: @bbrewer is not an official representative of EOS or Block.one. I am just a regular guy who is slightly obsessed with cryptocurrency and the imminent launch of EOS. I obtained most of the information for this post from the EOS Telegram chat.