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ICO leaders: a detailed analysis of the EOS block-platform

The block-study laboratory of the business incubator of the Financial University under the government of the Russian Federation is studying the most significant projects that go to the ICO. In a special column for FO, the leading analyst of crypto-assets, Ekaterina Sebekchenko, parses the start-up EOS, which was the leader in speed of fund-raising during the placement of its tokens.

ICO project EOS started on June 26 and continues to this day. The organizers do not have the upper limit for raising funds.

EOS create their own block-platform. Its developers believe that now the spread of blocking applications is delayed by several problems, which are supposed to be combated with the following methods:

• Elimination of the impossibility of simultaneous access for a large number of users.
• A platform free for users, which will allow the applications placed on it to have a greater choice of monetization models for their projects.
• Increase the speed of transactions.
• Easily upgradeable platform.
• Ensure consistent and parallel performance.
• Introducing the Delegated Proof of Stake (DPoS) mechanism, which minimizes the possibility of hard disks.

The EOS Team

Despite the fact that the information on the composition of the team is not listed on the startup site, there is a video from the conference Consensus 2017, where Dan Larimer, CTO EOS, presents the project. Together with him at the conference was the partner of the project Brendan Blumer (Brendan Blumer) and Brock Pierce (Brock Pierce). The information about the other participants is not known reliably, but it can be assumed that they are part of the Block.one team.

The Block.one project site also does not provide detailed information about project participants, which makes it difficult to get familiar with their work experience. Dan Larimer is the co-founder of Block.one, and also the technical director of Steemit, the executive director of Cryptonomex, the founder of Bitshares. Dan invented the Delegated / Nominated Proof of Stake mechanism.

Brendan Blumer – CEO of Block.one, since 2013 is the Executive Director of ii5. Also from 2009 to 2013 was the founder of Okay.com.

Brock Pierce – co-founder of Block.one, Blockchain Capital, in May 2014 was appointed director of the Bitcoin Foundation. He was the founder, member of the team or consultant of several bitcompanies, such as GoCoin, Tether, ZenBox, Blade Financial, Expresscoin, Noble Markets, BitGo and ChangeTip.

Comparing names from the development plan and the members of Block.one, we learn about some other members of the team:

Nathan Hourt (Nathan Hourt) – studied computer science at Harding University, co-founder and technical director of Follow My Vote. Has six years of experience developing cross-platform operating systems.

Phil Meisner (Phil Mesnier) – co-founder of Block.one and technical director of OCI.

Market

EOS enters the market as an operating system for decentralized applications. Competitors of EOS: Ethereum, Tezos, Antshares, Quantum.

Business model EOS

Users of EOS do not pay for the transactions they make – the business pays for production costs. Applications on EOS build a model of monetization in the most acceptable way for business, so as to recoup the costs of transactions. They will need to own a certain percentage of tokens in order to use a proportionate amount of network capacity, which will increase the demand for a token.

Producers of blocks will be awarded equally regardless of the transactions included in the block. The number of tokens received by the miners will equal the average desired among all the block manufacturers with an installed upper limit system to monitor emission growth.

EOS code audit

The source code was not audited, but it is submitted to GitHub.

Prototype

The prototype was not released before the ICO. The release of version 1.0 is expected. in the last half of the spring of 2018.
Distribution of tokens

The total issue of tokens will be 1 billion 20% have already been allocated to the ICO for five days from June 26, 17 to July 1, 70% will be evenly divided into 2 million tokens, and each group will be distributed for 23 hours for the next 350 days, starting from 01.07.17.
The remaining 10% will be reserved for Block.one and can not be sold or used on the Ethereum network.