After a year long initial coin offering (ICO) that raised a record $4 bln, Block.one’s EOSIO has officially been launched[1].
The project is highly anticipated and the June launch[2] is as close to a moment of truth as you will get in the world of blockchain technology and cryptocurrencies.
Developers can now actively build blockchain-based applications on the platform – which is being aimed at businesses and large scale commercial applications.
However, the launch of v1.0 could be a defining moment for the project that has promised to be able to process millions of transactions per second and eliminate user fees in its technical white paper[3].
EOS – A brief history of Block.one
EOS[4] is a decentralized blockchain-based operating system that was introduced to the world in 2017. Its developers, Block.one, headed up by CEO Brendan Blumer and chief technical officer Dan Larimer, unveiled EOS at Consensus 2017. 12 months later, the project raised a record-breaking $4 bln.
The EOS operating system promises to allow developers to build decentralized applications - similar to Ethereum - that can be commercially scalable. The software includes “accounts, authentication, databases, asynchronous communication, and the scheduling of applications across many CPU cores or clusters,” according to the white paper.
The EOS token sale started in June 2017 as an Ethereum-based ERC-20 token[5] - but as of June 2, 2018, EOS token holders that had registered for the mandatory token swap would see those ERC-20 tokens converted to EOS tokens on the EOSIO platform.
Holders of these native EOS tokens will be responsible for the management of the ecosystem, by voting for block producers that mine blocks and maintain the network.
Meanwhile users of EOS-based decentralized applications will have access
