Today we woke up with a new friend in the list of coinmarketcap, it is called EOS and just open its market has positioned itself in the 9th place leaving behind Monero.

What is EOS? 

EOS is a cryptocurrency created by the same developer of Steemit, Dan Larimer, and promises to be an evolution of what is Ethereum today. Its intention is to provide a fast and efficient decentralized platform where you can execute intelligent contracts with 0 costs per transaction (0 costs like what is now steemit), while at the same time looking to provide developers with basic programming tools to simplify the development of a particular App.

EOS.IO will mainly focus on providing DApps the following solutions: free usage, easy upgrades and bug recovery, support for millions of users, sequential and parallel performance, and low latency.

Main features

• The consensus algorithm is Delegated Proof of Stake (DPOS), like Steemit.
• Open source code: The code will be opensourced when initial development stage ends.
• Vertical/Horizontal scaling: The blockchain architecture is designed to support a large number of transactions and complex Apps.
• EOS.IO will support multiple virtual machines and new virtual machines can be added over time if necessary
• EOS tokens are compatible with ERC20.

ICO

The ICO will continue for another 335 days. The total amount of coins are 1 billion, ans will be distributed in 350 periods of time

Period 0 - June 26 to July 1: 

• 200 millions token were distributed.
• It raised 651902.18 Ether (approx. 172 million dollars)

Period 1 to period 350:

• Each period will distribute 2 million token (700 million in total)
• 23 hours per period, that is, 335 days.
• The ICO finishes in June 1, 2018 23:00 UTC.
• How it works: Suppose they collect 6400 ETH in a period, and you contribute with 1.5 ETH. That means you will receive 2000000EOS*(1.5ETH / 6400ETH) =  468.75 EOS at the end of the period.
• To participate enter to https://eos.io/instructions

Remaining 100 million EOS

The remaining 100 million tokens will be reserved for block.one and cannot be traded or transferred on the Ethereum network.

ICO price vs Exchanges price

Yesterday, 6 exchanges started the trading with EOS. Two of them are Bitfinex.com and Kraken.com (two of the biggest exchanges worldwide), but the main one is the chinese Yunbi who handles 83% of the volume of transactions.

On the other hand, the ICO continues and at this time they have the remaining 80% of the total supply!! How to calculate what will be the price at ICO? We can see the current distribution at http://eosscan.io/ and make a projection of the current period using these equations:

Ecol is the Ether collected in the current period. Eest is the estimated collection at the end of the period. t is the remaining time in hours. For example, at the present the second period has collected 21192.65 eth, the remaining time is 4.5 hours, and the price of ether is 286. Then the pair USD/EOS, using this linear progression is:

In this way you can compare the actual price at the ICO and the price at the exchanges and see what is the best option.

It will be interesting this movement of price between them.