This is a 3 part article/research. In the first part we cover EOS fundamentals, second part is all about technology being used vs competitors, and the third part is going to be about EOS use cases and final conclusion.
EOS OVERVIEW
EOS is a blockchain operating system for developing, hosting and executing commercial scale decentralized applications. The resulting technology is a blockchain architecture that has the potential to scale to millions of transactions per second, eliminates user fees and allows for quick and easy deployment of decentralized applications (dApps). Although still under development, EOS has become one of the most talked-about blockchain services in the crypto space, gaining traction between investors ever since being announced. EOS is in a highly competitive space within the blockchain industry as it is competing with the likes of Ethereum and Neo who all offer similar features for the development of decentralized applications and smart contracts.
FOUNDERS AND DEVELOPERS
EOS project was founded and is currently developed by Block.one. With employees and advisors based around the world Block.one is a publisher of Decentralized Autonomous Corporations (DAC's), a concept that empowers open source communities to disrupt existing centralized business models. In other words, they are creating platforms and tools that enable the building of blockchain supported and decentralized businesses.
Block.one team most important members are:
Daniel Larimer, CTO: It is important to stress out that Daniel is considered as one of the biggest names in blockchain industry. In February 2018, Forbes estimated Larimer's net worth between $600 to $700 million. He is a software programmer and a serial entrepreneur focusing on innovative technologies ranging from virtual reality simulators to second-generation crypto currencies. Larimer is the inventor of "Proof of Stake" and "Decentralized Autonomous Corporations" concepts. Prior to working on EOS, he created BitShares and Steem blockchain platforms. They are both considered as a great success from blockchain architecture perspective, therefore, Larimer should be considered as on the biggest and most successful experts in the field.
Brendan Blumer, founder and CEO: Brendan became an early investor in blockchain and began transition to full time involvement in the space in 2016 when he met business partner Daniel Larimer. Prior to getting involved in the blockchain space, Blumer founded Okay.com, a collaborative data sharing ecosystem for the Asia Pacific property market. Okay.com has grown to be Hong Kong’s largest digital property agency and is used by nearly all brokers in the country to find accurate property listings.
Ian Grigg, advisor: A financial cryptographer who has been building cryptographic ledger platforms for over 20 years, Ian is the inventor of the Ricardian Contract and the co-inventor of Triple-Entry Accounting.
INITIAL COIN OFFERING (ICO)
source: etherscan.io/token/EOS
It is important to understand that the EOS tokens are an ERC-20 compatible tokens and are sold on the Ethereum blockchain. From EOS whitepaper: "block.one is building the EOS.IO Software but it will not configure and/or launch any public blockchain platform adopting the open source EOS.IO Software (the “EOS Platform”). Any launch of an EOS Platform will occur by members of the community unrelated to block.one. The EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform." In order to prevent regulatory issues, US citizens are not allowed to participate in EOS ico, as it is hard to define if EOS tokens are actually securities, commodities, swaps on either securities or commodities, or similar financial instruments.
- EOS project started with initial coin offering (ICO) on June 26, 2017. 20% of all tokens were sold (200,000,000 EOS) during a first 5-day period (Jun 26-Jul 1, 2017).
- in the second phase 700 million tokens are currently being distributed through 350 consecutive 23 hour periods that began on July 1, 2017.
- remaining 100 million tokens are reserved for Block.one (EOS development team) and cannot be traded or transferred on the Ethereum network.
Currently around 84% of all EOS tokens were distributed.
CURRENT MARKET AND PRICE VALUE
source: onchainfx.com
PRICE CHART AND HISTORICAL PERFORMANCE
source: onchainfx.com
EOS token started trading at 0.99 USD and reached all time high price at 18.71 USD. Since then we have seen price declined for roughly 70%. Current price decline correlates with overall cryptocurrency market trend and should not contain negative speculations or other issues specifically related to EOS. EOS token produced 550% return on invest since June 26, 2017.
TOKEN HOLDERS DISTRIBUTION
source: etherscan.io/token/EOS
Based on my research the biggest token holder address is being used by EOS project for crowdsale purposes. 16,55% share of overall EOS tokens correlates with EOS tokens that still need to be distributed.
Second biggest token holder address owns exactly 100,000,000 EOS tokens, which is equal to the amount of tokens reserved for Block.one. There was no activity after initial transaction as Block.one is not allowed to trade on Ethereum network. This a security measurement that gives incentive to developers to produce the best possible working product.
Other top 25 accounts holds 30% of EOS tokens, respectively.
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