The technical white paper can be found on SteemIt. The amazing thing is that Dan Larimer claims that the system should be free to use for developers.
Dan Larimer previously created the Graphene blockchain, which runs BitShares, SteemIt, PeerPlay, and Muse.
The following press release was published:
Block.one will launch the sale of a new blockchain-based digital currency or token called EOS on Monday, the tech company said on Thursday.
The sale is the latest capital-raising exercise by a technology startup creating its own digital currency and selling tokens to the public, a practice that has no regulatory oversight.
It will be one of the most eagerly expected token sales in recent months, analysts said.
Blockchain, a distributed ledger that came to prominence as the underlying technology behind digital currency bitcoin, is gaining popularity for its potential to track assets across all industries.
U.S. startup Civic sold $33 million in digital currency tokens for its identity verification project in a public sale, Reuters reported on Thursday.
Block.one calls the sale of EOS a “token distribution.” The company wants EOS to be used by large businesses, enabling corporations to automate processes, monitor assets, and create multiple applications.
Brock Pierce, co-founder of block.one, told Reuters that EOS aims to be the foundation for business applications in the blockchain world.
The token sale will take place over a one-year period on ethereum, another blockchain-based currency, and some 1 billion tokens would be sold over 341 days starting on June 26, Pierce said.
According to block.one’s distribution schedule, 20 percent of the EOS tokens will be sold during the first five days of the book opening, while 70 percent will split evenly into 350 consecutive 23-hour periods of 2 million EOS tokens each, starting on July 1. The remaining 10 percent will be reserved for block.one and cannot be traded or transferred on the ethereum network.
EOS will be priced based on market demand, said Brendan Blumer, chief executive of block.one in a statement.
The last blockchain platform token that went on sale was Qtum in March, which raised $15.6 million.
Blockchain Capital’s Pierce said EOS could raise more than the $150 million raised by Bancor a few weeks ago. Bancor so far has raised the largest amount of capital in a token sale.
Bancor enables the creation of so-called “smart tokens,” which can hold one or more tokens or digital currencies in reserve.
“The goal of the EOS token sale is to make it truly democratized and provide equal access to everyone,” said Pierce.
According to Stan Wong on SteemIt:
…EOS, essentially being the Operating System for blockchains will mean that it’s quite like Windows / Linux / MacOS with built-in cryptoeconomic incentives. In short, a Windows with its own version of a frictionless Peer-to-Peer Electronic Cash System.
On Stan’s Post, John Smith says:
Dan is some kind of blockchain savant – Bitshares, Steem and EOS basically obsolete Bitcoin, Wall Street, Facebook, Reddit, Microsoft and Apple in one fell swoop. They are like the Blockchain Holy Trinity. BHT!
Dan AtStarLite created a video and says EOS will overtake Ethereum, and even blow it out of the water. He’s not sure Ethereum can scale, and there are a lot of transaction fees. EOS has no transaction fees, unlimited scalability, and will be lightning fast.
One of the problems is that the EOS site does not allow people in the US to click the button that says “GET EOS”. They are checking for an IP Address in the United States, and disabling the button saying “participation not allowed”.
We all wait to see what this amazing new software will do. It will probably be game changing!
Below is Dan Larimer’s full presentation at the BitCoin/Crypto conference Consensus in May of 2017.