EOS is one of the most talked about blockchain projects distributing a token; and it doesn’t even have a blockchain yet. Launched by block.one, the company building the EOS.IO software, the EOS token is explicitly stated not to have any value, utility, or purpose. Yet its token market capitalization has already surpassed that of older and more well-established cryptocurrencies like Zcash, BitShares, Steem, and Augur.