You are viewing a single comment's thread from:
RE: A Primer on EOS, why it grew 320% overnight and why it isn't done yet!
Great article...I am trying to wrap my head around this... Can you recommend an article which explains how the eos tokens would be valuable? It sounds to me a bit like a business just buys an eos token like an anchor and then just uses its private blockchain... a bit like sidechains or something like that?
I would love to know more about that, but would like to understand why the eos tokens would have to be bought...
They give you a percentage share of the blockchain's storage and computing power. The number of tokens you own determines your access to the network.
Ok, so this is the same like in Steem... But if you run your private chain would you need many of them?
Does this article means death to other cryptos like Bitcoin, Ethereum and etc. because EOS is faster ?
I found the white paper... so will give this one a read... looks interesting... :)
Since the EOS token is not in any way connected to any future EOS blockchain, nor will it be, the number of tokens you own will only indicate how much money you'll have lost.
Yeah so basically the tokens they issue will all get to vote on July 4th 2018 to try and form a formal blockchain. If it implements the guidelines of the EOS.IO system it will create a public blockchain that follows that standard and companies would need to use those tokens to make applications on that blockchain (at least that's what I understand).
While they can also create their own private blockchains based off of EOS I imagine some of them will want to interact with a public blockchain which would need to be this EOS token one.
In summary, what I gather from the whitepaper is the goal is to have the current tokens become a key component of the platform, they just don't want to promise that for legal reasons incase someone gobbles up enough tokens to out vote them.
What I read in the whitepaper is this statement:
PLEASE NOTE: CRYPTOGRAPHIC TOKENS REFERRED TO IN THIS WHITE PAPER REFER TO CRYPTOGRAPHIC TOKENS ON A LAUNCHED BLOCKCHAIN THAT ADOPTS THE EOS.IO SOFTWARE. THEY DO NOT REFER TO THE ERC-20 COMPATIBLE TOKENS BEING DISTRIBUTED ON THE ETHEREUM BLOCKCHAIN IN CONNECTION WITH THE EOS TOKEN DISTRIBUTION.
What I understand is that any new blockchain using the EOS,io software will be equipped with a new token, with a name of choice. This new token will be key to the functioning of this new blockchain. The EOS token we bought a few weeks ago, has no relation to any blockchain using the EOS.io software, nor is it intended to be so. It is a coin without use or function.
This post reflects also on EOS. This is another view: https://steemit.com/eos/@jerrybanfield/best-time-to-buy-eos-or-any-new-cryptocurrency
I have posted today an article that shows that the value of the EOS token is absolutely ZERO. Since businesses do not have to be buy EOS tokens to use the EOS blockchain open source software, and since the EOS tokens are in no way connected to an EOS blockchain, nor is it the intention of the developers to make it connected, it is a token without function, and without a team to give it a function. It is useless