According to its creator Dan Larimer, "EOS can run ETH inside a single contract ;)"
EOS could give ETH a REAL run for its money. It was conceived of by Dan Larimer, creator of Steem and Bitshares. If you don't know what these two coins are.. I will just say they are both worth over 8 billion dollars. #steem and #bitshares are both in the top 20 of coin market cap. This just means you should look into both Steem and Bitshares.
What Dan says in this talk sounds too good to be true. But keep in mind EOS IO is an evolution of Steem and Bitshares (which both work very very well).
The concept of Ethereum is without a doubt the next step in blockchain/cryptocurrency evolution. It is faster than Bitcoin as a currency and allows smart contracts (formal monetary agreements in the form of code but trustless and decentralized). You can write apps, and create other currencies within Ethereum. It is actually not an evolution of bitcoin itself, it is something different.
Andreas M. Antonopoulos' explains the philosophical differences in his talk entitled, "The Lion and the Shark: Divergent Evolution in Cryptocurrency"
EOSIO is another step in the evolution an Ethereum like architecture. What grabbed my attention was:
- EOS is built with the same technology that fuels Steem and Bitshares - with Steem, you don't need to know anything about cryptocurrency to use it. Bitshares is a decentralized exchange. A centralized exchange (ie Poloniex, Coinbase) can lose or take your money.. when you give them your Bitcoin.. it is theirs and you are trusting them to do the right thing like a bank. Bitshares is not like that.
- EOSIO will use usernames like Steem
- It targets the masses and not just geeks that are into crypto
- Scaleable - it takes all scale issues with currently happening bitcoin and Ethereum and addresses them
As someone who wants to invest heavily in cryptocurrency, I feel like the boat has sailed on Ethereum and Bitcoin. EOS may be a new opportunity to get in early and hold.
https://steemit.com/@eosio
eosio technical white paper: https://github.com/EOSIO/Documentation/blob/master/TechnicalWhitePaper.md
There is certainly a lot of interest in this new project of @Dan Larimer. I hope the coin distribution will be less complex than a contract via ETH.
Been reading the whitepaper and it sounds incredible. Kind of like an Ethereum with the ease of use of steem and no (gas/fees).
The ICO process has not been communicated yet. It may not be an ICO at all as they are looking for a fair distribution of the tokens.
https://github.com/EOSIO/eos-token-sale
Yes, it is an ICO via ETH but with secondary markets available after 5 days. The coins will be distrubted in tranches with various mechanisms to ensure that the distribution is somewhat fair (rich people will remain rich people -> can buy more).
More details of the ICO here.