EOS.IO

Last updated

EOS
Denominations
CodeEOS
Development
Original author(s)Daniel Larimer, Brendan Blumer [1]
White paper [1]
Initial releaseDawn 3.0.1-alpha [2] / January 31, 2018;6 years ago (2018-01-31)
Latest release EOSIO 2.1.0 [3] / May 20, 2021;2 years ago (2021-05-20)
Code repository eos.io on GitHub
Development statusCurrently under development
Written in C++
Operating system multi platform
Developer(s) Block.one
License MIT License (open source) [4]
Ledger
Timestamping scheme delegated Proof-of-stake
Block time500 ms
Block explorer bloks.io
Circulating supply896,149,492 (27th of July 2018)
Website
Website eos.io
    Block.one
    Company typePrivate
    Industry Blockchain
    Area served
    		Global
    Key people
    		 Brendan Blumer (CEO), Daniel Larimer (CTO)
    ProductsDecentralized applications
    Website block.one

    EOS.IO is a blockchain protocol based on the cryptocurrency EOS. The smart contract platform claims to eliminate transaction fees and also conduct millions of transactions per second. It was developed by the private company Block.one and launched in 2017. The platform was later released as open-source software.

    Contents

    History

    Based on a white paper published in 2017, the EOSIO platform was developed by the private company Block.one and released as open-source software on June 1, 2018. At the launch of the blockchain, one billion tokens were distributed as ERC-20 tokens by Block.one. The CEO of Block.one, Brendan Blumer, announced that the company would support the EOSIO blockchain with over one billion USD in funding from the token sale and ultimately Block.one raised over four billion USD to support the blockchain during the Initial Coin Offering (ICO) period. [5]

    The original test net, Dawn 1.0, was released on September 3, 2017, with test net versions Dawn 2.0 released on December 4, 2017, Dawn 3.0 on January 25, 2018, and Dawn 4.0 on May 7, 2018. The name of the cryptocurrency EOS comes from Ancient Greek Ἠώς, "dawn".[ citation needed ]

    EOSIO's Dawn 1.0 was launched on the EOSIO mainnet on June 1, 2018, and is currently operating under version 2.1.0. [3]

    In September 2019, Block.one agreed to settle U.S. Securities and Exchange Commission charges related to the $4 billion unregistered ICO for a $24 million penalty. [6] [7] The settlement did not require a restitution offer, registration of tokens, or any disqualifications. [8]

    EOS Network Foundation

    In August 2021, Yves La Rose founded the organization EOS Network Foundation (ENF). La Rose is an EOS enthusiast who disputes the way Block.one has managed to blockchain and its tokens. The organization has attempted to pressure Block.one into reinvesting its profits into development of the blockchain, and to support new development. [9]

    Block.one, EOSIO ecosystem and Everipedia

    Block.one is a company registered in the Cayman Islands, which began offering EOS tokens in June 2017 to the public, raising over $4 billion (a record for an ICO). [10] Daniel Larimer was the Chief Technology Officer of Block.one. Larimer had previously worked on the decentralized exchange Bitshares from 2013 to 2016. After that, he worked on Steemit, a blockchain-based social media platform. [11] On January 10, 2021, Larimer announced his resignation from Block.one.[ citation needed ]

    On December 6, 2017, Everipedia, a for-profit, wiki-based online encyclopedia, announced plans using EOS blockchain technology and work on an airdrop of a cryptocurrency called IQ to encourage generating information. The IQ tokens are intended to be exchangeable for Bitcoin. [12] One of the goals of the company is to stop certain countries from blocking the content, by the integration of the blockchain model. [13] The goal is that once Everipedia is decentralized and hosted on the EOSIO platform, countries such as Turkey and Iran that block Wikipedia will no longer be able to block it, via Everipedia's fork. [14] Mike Novogratz, CEO of Galaxy Investment LP, a cryptocurrency investment firm, and Block.one led a group of institutions that invested $30 million in Everipedia on February 8, 2018. Novogratz also funds EOSIO Ecosystem, a $325-million joint venture between his Galaxy Digital LP and Block.one. [15]

    Related Research Articles

    <span class="mw-page-title-main">Cryptocurrency</span> Digital currency not reliant on a central authority

    A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it.

    <span class="mw-page-title-main">Cardano (blockchain platform)</span> Public blockchain platform

    Cardano is a public blockchain platform. It is open-source and decentralized, with consensus achieved using proof of stake. It can facilitate peer-to-peer transactions with its internal cryptocurrency, ADA.

    An initial coin offering (ICO) or initial currency offering is a type of funding using cryptocurrencies. It is often a form of crowdfunding, although a private ICO which does not seek public investment is also possible. In an ICO, a quantity of cryptocurrency is sold in the form of "tokens" ("coins") to speculators or investors, in exchange for legal tender or other cryptocurrencies such as Bitcoin or Ether. The tokens are promoted as future functional units of currency if or when the ICO's funding goal is met and the project successfully launches.

    <span class="mw-page-title-main">Everipedia</span> Blockchain-based online encyclopedia

    Everipedia is a defunct blockchain-based online encyclopedia. Everipedia was founded in 2014 and was officially launched in 2015, as a fork of Wikipedia. Larry Sanger joined the company in 2017. In 2022, Everipedia was inactivated, becoming a static archive and redirecting to a new crypto-only encyclopedia, IQ.Wiki.

    <span class="mw-page-title-main">Petro (token)</span> Venezuelan cryptocurrency

    The petro (₽), or petromoneda, launched in February 2018, is a crypto token issued by the government of Venezuela.

    A cryptocurrency bubble is a phenomenon where the market increasingly considers the going price of cryptocurrency assets to be inflated against their hypothetical value. The history of cryptocurrency has been marked by several speculative bubbles.

    <span class="mw-page-title-main">NEO (cryptocurrency)</span> Cryptocurrency

    Neo is a blockchain-based cryptocurrency and application platform used to run smart contracts and decentralized applications. The project, originally named Antshares, was founded in 2014 by Da HongFei and Erik Zhang and rebranded as Neo in 2017. In 2017 and 2018, the cryptocurrency maintained some success in the Chinese market despite the recently-enacted prohibition on cryptocurrency in that country.

    Cryptocurrency and crime describe notable examples of cybercrime related to theft of cryptocurrencies and some methods or security vulnerabilities commonly exploited. Cryptojacking is a form of cybercrime specific to cryptocurrencies that have been used on websites to hijack a victim's resources and use them for hashing and mining cryptocurrency.

    OKX is a global cryptocurrency spot and derivatives exchange and the second biggest crypto exchange by trading volume, serving over 50 million people globally. It was founded by Star Xu in 2017, who is also the CEO as of 2023. The President is Hong Fang and the CMO is Haider Rafique. OKX is owned by OK Group, which also owns the crypto exchange Okcoin.

    <span class="mw-page-title-main">The Open Network</span> Blockchain network originally developed by Telegram

    The Open Network is a decentralized computer network consisting of a layer-1 blockchain with various components. TON was originally developed by Dr. Nikolai Durov and the messaging platform, Telegram and now embraced by a global community of independent contributors.

    <span class="mw-page-title-main">Brendan Blumer</span> American entrepreneur, executive, and investor

    Brendan Blumer is an American-born Hong Kong-based entrepreneur. He is the CEO of the tech company Block.one, which developed the EOS.IO blockchain platform.

    Bithumb is a South Korean cryptocurrency exchange. Founded in 2014, Bithumb Korea has 8 million registered users, 1 million mobile app users, and a current cumulative transaction volume has exceeded USD $1 trillion.

    <span class="mw-page-title-main">Justin Sun</span> Grenadian diplomat and tech entrepreneur

    Justin Sun is a Chinese-born Grenadian cryptocurrency entrepreneur and business executive. He is the founder of TRON, a blockchain DAO ecosystem. He also works as an advisor to HTX.

    <span class="mw-page-title-main">Tron (cryptocurrency)</span> Blockchain computing platform

    TRON is a decentralized, blockchain-based operating system with smart contract functionality, proof-of-stake principles as its consensus algorithm and a cryptocurrency native to the system, known as Tronix (TRX). It was established in March 2014 by Justin Sun and since 2017 has been overseen and supervised by the TRON Foundation, a non-profit organization in Singapore, established in the same year. It is open-source software.

    An Initial exchange offering (IEO) is the cryptocurrency exchange equivalent to a stock launch or Initial public offering (IPO). An IEO is the process of digital asset procurement through an established exchange for the purpose of raising capital for start-up companies. Exchanges act as a middleman between investors and the startup, profiting from fees generated by services rendered during the due diligence process and funding phase. IEO's and initial coin offerings (ICO) share similar characteristics with, however, an IEO can be seen as an evolution from the ICO due to legal influence and an increase in financial regulations within the cryptocurrency market.

    A security token offering (STO) / tokenized IPO is a type of public offering in which tokenized digital securities, known as security tokens, are sold in security token exchanges. Tokens can be used to trade real financial assets such as equities and fixed income, and use a blockchain virtual ledger system to store and validate token transactions.

    Decentralized finance offers financial instruments without relying on intermediaries such as brokerages, exchanges, or banks by using smart contracts on a blockchain, mainly Ethereum. DeFi platforms allow people to lend or borrow funds from others, speculate on price movements on assets using derivatives, trade cryptocurrencies, insure against risks, and earn interest in savings-like accounts. DeFi uses a layered architecture and highly composable building blocks. Some applications promote high-interest rates but are subject to high risk. Coding errors and hacks have been common in DeFi.

    <span class="mw-page-title-main">Uniswap</span> Decentralized cryptocurrency exchange

    Uniswap is a decentralized cryptocurrency exchange that uses a set of smart contracts to execute trades. It is an open source project and falls into the category of a DeFi product because it uses smart contracts to facilitate trades. The protocol facilitates automated transactions between cryptocurrency tokens on the Ethereum blockchain through the use of smart contracts. As of October 2020, Uniswap was estimated to be the largest decentralized exchange and the fourth-largest cryptocurrency exchange overall by daily trading volume.

    <span class="mw-page-title-main">Solana (blockchain platform)</span> Public blockchain platform

    Solana is a proof-of-stake blockchain with smart contract functionality. Its native cryptocurrency is SOL. According to Bloomberg, Solana is "hailed for its high speeds and cheap transaction fees" which traders use to trade tokens and NFTs. Solana was launched in 2020 by Solana Labs, which was founded by Anatoly Yakovenko and Raj Gokal in 2018.

    References

    1. 1 2 "EOS.IO Technical White Paper v2". GitHub. 16 Mar 2018. Retrieved 3 October 2018.
    2. ↑ "eos: An open source smart contract platform". GitHub. 2 Oct 2018. Retrieved 2 Oct 2018.
    3. 1 2 "EOSIO v2.1.0 Release Notes". GitHub. 20 May 2021. Retrieved 11 September 2021.
    4. ↑ "EOSIO/eos is licensed under the MIT License". GitHub. Retrieved 2018-06-08.
    5. ↑ Rooney, Kate (2018-05-31). "A blockchain start-up just raised $4 billion without a live product". CNBC. Retrieved 2018-08-12.
    6. ↑ Silva, Matthew De (3 October 2019). "Crypto companies are settling with the SEC, but that's not stopping them". Quartz (publication) . Retrieved 1 November 2019.
    7. ↑ Press release (30 September 2019). "SEC Orders Blockchain Company to Pay $24 Million Penalty for Unregistered ICO". U.S. Securities and Exchange Commission. No. 2019–202. Retrieved 1 November 2019.
    8. ↑ Rosenblum, Robert; Caiazza, Amy; Evenson, Taylor; Goodrich, Wilson Sonsini (26 October 2019). "Less Aggressive SEC Sanctions on Violations by Crypto Issuers". Harvard Law School Forum on Corporate Governance and Financial Regulation. Retrieved 1 November 2019.
    9. ↑ Volpicelli, Gian M. "EOS Was the World's Most Hyped Blockchain. Its Fans Want It Back". Wired. ISSN   1059-1028 . Retrieved 2022-08-25.
    10. ↑ Nonninger, Lea. "Block.one just raised a $4 billion ICO". Business Insider. Archived from the original on 2021-11-04. Retrieved 2018-07-17.
    11. ↑ Kauflin, Jeff (7 Feb 2018). "Dan Larimer's Path From Working On Weapons To Minting Crypto Riches". Forbes. Retrieved 2 Oct 2018.
    12. ↑ Sitaraman, Viputheshwar (12 November 2015). "Q&A: Mahbod Moghadam — Cofounder, Everipedia". HuffPost.
    13. ↑ Wallenbergtorsdag, Björn (14 December 2017). "Wikipedia-grundare ansluter till utmanare startad av svensk 22-åring" [Wikipedia-founders Connect to challenger started by Swedish 22-year-old] (in Swedish). DiGITAL. Archived from the original on 15 December 2017. Retrieved 9 February 2018.
    14. ↑ Rubin, Peter (6 December 2017). "The Wikipedia Competitor That's Harnessing Blockchain For Epistemological Supremacy". Wired .
    15. ↑ "Novogratz's new fund, others invest $30 million in online encyclopedia". Reuters. 8 February 2018.
    This page is based on this Wikipedia article
    Text is available under the CC BY-SA 4.0 license; additional terms may apply.
    Images, videos and audio are available under their respective licenses.