EOS will launch in a few months, here’s what we know…
Around 70 days to go (June 3rd) until the EOS blockchain goes live. Over the last few weeks we learned quite some interesting details. Here are the ones I think are most important:
- EOS is on schedule and will launch in June. No delays expected as all tests are going well.
- EOS will support at least 1000 transactions per second at start. This is reached using a 1-core implementation. The devs expect 1 CPU-core to support up to 30K transactions per second but as security comes first the EOS Virtual Machine will scale to this number step by step.
- EOS has the first blockchain supporting “interchain communication”. This means that EOS can run several blockchains in parallel. Moving tokens from 1 chain to the other is finalized under 2 seconds. So 1 chain could be used for social media while the other is used for financial stuff for example. Interchain communication is supported right from the start.
- More than 50 potential Block Producers have introduced themselves. The BPs of course hope to get enough votes to be in the top-21 and to actually produce blocks. All people holding EOS-tokens on the chain can vote for their favorites after launch. The EOS-blockchain is therefore controlled by the users of the system. BPs can be voted in and out depending on how much support they have from the community.
- The EOS-blocktime is 0.5 seconds. A transaction can be considered confirmed with 99.9% certainty after an average of 0.25 seconds from time of broadcast. In 1 second your transaction is done, finalized and confirmed by the majority of the Block Producers as they all sign all blocks.
- EOS.IO and/or Block.One are working on a social network. Dan called it Steemit 2.0 but said it will have a different name. There are also hints about a VR-dApp but it’s not clear if this is the same thing or not.
- Block.One is working with several Venture Capital firms (VCs) to fire up App and dApp-development. Over 1 billion US Dollar is confirmed to be ready and TOMORROW BLOCKCHAIN OPPORTUNITIES, Galaxy Digital and FinLab.AG have publicly announced to start investing in projects that work with EOS.
- Dan is working on a marketmaker-contract. He is a big fan of Bancor and it looks like both Bancor and Block.One are working on fixing liquidity problems for tokens.
- Three projects have announced to “Airdrop” tokens to EOS-token holders.
- Binance is the first crypto exchange to support the swap from EOS-ethereum tokens to the real EOS-tokens in June.
- The EOS Whitepaper got a big update. Have a look here.
- EOS Storage is not coming until the end of the year.
- Block Producers can never make more than 4.8% of all the blocks as there are at least 21 Block Producers per round.
- If you register your EOS public address on Ethereum your EOS tokens will show up on the EOS-blockchain in the first second when EOS goes live.
I think I even missed some points here but I guess these are the most important things to know. Join our EOS Community Forum if you have any questions.