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EOS.IO

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EOS
Denominations
CodeEOS
Development
Original author(s)Daniel Larimer, Brendan Blumer[1]
White paper[1]
Initial releaseDawn 3.0.1-alpha[2] / January 31, 2018; 6 years ago (2018-01-31)
Latest releaseEOSIO 2.1.0[3] / May 20, 2021; 3 years ago (2021-05-20)
Code repositoryeos.io on GitHub
Development statusCurrently under development
Written inC++
Operating systemmulti platform
Developer(s)Block.one
LicenseMIT License (open source)[4]
Ledger
Timestamping schemedelegated Proof-of-stake
Block time500 ms
Block explorerbloks.io
Circulating supply896,149,492 (27th of July 2018)
Website
Websiteeos.io
Block.one
Company typePrivate
IndustryBlockchain
Area served
Global
Key people
Brendan Blumer (CEO), Daniel Larimer (CTO)
ProductsDecentralized applications
Websiteblock.one

EOS.IO is a blockchain protocol based on the cryptocurrency EOS. The smart contract platform claims to eliminate transaction fees and also conduct millions of transactions per second. It was developed by the private company Block.one and launched in 2017. The platform was later released as open-source software.

History

Based on a white paper published in 2017, the EOSIO platform was developed by the private company Block.one and released as open-source software on June 1, 2018. At the launch of the blockchain, one billion tokens were distributed as ERC-20 tokens by Block.one. The CEO of Block.one, Brendan Blumer, announced that the company would support the EOSIO blockchain with over one billion USD in funding from the token sale and ultimately Block.one raised over four billion USD to support the blockchain during the initial coin offering (ICO) period.[5]

The original test net, Dawn 1.0, was released on September 3, 2017, with test net versions Dawn 2.0 released on December 4, 2017, Dawn 3.0 on January 25, 2018, and Dawn 4.0 on May 7, 2018. The name of the cryptocurrency EOS comes from Ancient Greek Ἠώς, "dawn".[citation needed]

EOSIO's Dawn 1.0 was launched on the EOSIO mainnet on June 1, 2018, and is currently operating under version 2.1.0.[3]

In September 2019, Block.one agreed to settle U.S. Securities and Exchange Commission charges related to the $4 billion unregistered ICO for a $24 million penalty.[6][7] The settlement did not require a restitution offer, registration of tokens, or any disqualifications.[8]

In 2021, EOS was noted as having lower environmental impact than most other cryptocurrencies.[9]

EOS Network Foundation

In August 2021, Yves La Rose founded the organization EOS Network Foundation (ENF). La Rose is an EOS enthusiast who disputes the way Block.one has managed to blockchain and its tokens. The organization has attempted to pressure Block.one into reinvesting its profits into development of the blockchain, and to support new development.[10]

Block.one, EOSIO ecosystem and Everipedia

Block.one is a company registered in the Cayman Islands, which began offering EOS tokens in June 2017 to the public, raising over $4 billion (a record for an ICO).[11] Daniel Larimer was the Chief Technology Officer of Block.one. Larimer had previously worked on the decentralized exchange Bitshares from 2013 to 2016. After that, he worked on Steemit, a blockchain-based social media platform.[12] On January 10, 2021, Larimer announced his resignation from Block.one.[citation needed]

On December 6, 2017, Everipedia, a for-profit, wiki-based online encyclopedia, announced plans using EOS blockchain technology and work on an airdrop of a cryptocurrency called IQ to encourage generating information. The IQ tokens are intended to be exchangeable for Bitcoin.[13] One of the goals of the company is to stop certain countries from blocking the content, by the integration of the blockchain model.[14] The goal is that once Everipedia is decentralized and hosted on the EOSIO platform, countries such as Turkey and Iran that block Wikipedia will no longer be able to block it, via Everipedia's fork.[15] Mike Novogratz, CEO of Galaxy Investment LP, a cryptocurrency investment firm, and Block.one led a group of institutions that invested $30 million in Everipedia on February 8, 2018. Novogratz also funds EOSIO Ecosystem, a $325-million joint venture between his Galaxy Digital LP and Block.one.[16]

References

  1. ^ a b "EOS.IO Technical White Paper v2". GitHub. 16 Mar 2018. Retrieved 3 October 2018.
  2. ^ "eos: An open source smart contract platform". GitHub. 2 Oct 2018. Retrieved 2 Oct 2018.
  3. ^ a b "EOSIO v2.1.0 Release Notes". GitHub. 20 May 2021. Retrieved 11 September 2021.
  4. ^ "EOSIO/eos is licensed under the MIT License". GitHub. Retrieved 2018-06-08.
  5. ^ Rooney, Kate (2018-05-31). "A blockchain start-up just raised $4 billion without a live product". CNBC. Retrieved 2018-08-12.
  6. ^ Silva, Matthew De (3 October 2019). "Crypto companies are settling with the SEC, but that's not stopping them". Quartz (publication). Retrieved 1 November 2019.
  7. ^ Press release (30 September 2019). "SEC Orders Blockchain Company to Pay $24 Million Penalty for Unregistered ICO". U.S. Securities and Exchange Commission. No. 2019–202. Retrieved 1 November 2019.
  8. ^ Rosenblum, Robert; Caiazza, Amy; Evenson, Taylor; Goodrich, Wilson Sonsini (26 October 2019). "Less Aggressive SEC Sanctions on Violations by Crypto Issuers". Harvard Law School Forum on Corporate Governance and Financial Regulation. Retrieved 1 November 2019.
  9. ^ Harrison, Polly Jean (November 19, 2021). "What Are the Top 10 Greenest Cryptocurrencies?". The Fintech Times.
  10. ^ Volpicelli, Gian M. "EOS Was the World's Most Hyped Blockchain. Its Fans Want It Back". Wired. ISSN 1059-1028. Retrieved 2022-08-25.
  11. ^ Nonninger, Lea. "Block.one just raised a $4 billion ICO". Business Insider. Archived from the original on 2021-11-04. Retrieved 2018-07-17.
  12. ^ Kauflin, Jeff (7 Feb 2018). "Dan Larimer's Path From Working On Weapons To Minting Crypto Riches". Forbes. Retrieved 2 Oct 2018.
  13. ^ Sitaraman, Viputheshwar (12 November 2015). "Q&A: Mahbod Moghadam — Cofounder, Everipedia". HuffPost.
  14. ^ Wallenbergtorsdag, Björn (14 December 2017). "Wikipedia-grundare ansluter till utmanare startad av svensk 22-åring" [Wikipedia-founders Connect to challenger started by Swedish 22-year-old] (in Swedish). DiGITAL. Archived from the original on 15 December 2017. Retrieved 9 February 2018.
  15. ^ Rubin, Peter (6 December 2017). "The Wikipedia Competitor That's Harnessing Blockchain For Epistemological Supremacy". Wired.
  16. ^ "Novogratz's new fund, others invest $30 million in online encyclopedia". Reuters. 8 February 2018.
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