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.