A Cryptoverse HitchHiker’s Guide to EOS

Orchid Kim
May 17, 2018 · 5 min read

EEG Native Contents

Still, the majority of people on Earth does not know about EOS. The concept might be hard to understand, especially for blockchain newbies. So here, EEG presents a story about EOS to engage more people in EOS community. The story is inspired by the masterpiece, ‘A HitchHiker’s Guide to Galaxy’ (and also named after it) to help newbies understand EOS better. Enjoy!

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Illustration Credit: gangeun25

Lost in Cryptoverse, I finally opened my eyes.
How long has it been since I kickstarted this journey to find more transparent and equal world? The planets in Cryptoverse rotate on blocks, chained by each other. I was utterly exhausted to move from a planet to planet. There, at that moment, I got to read the most notable ‘A Cryptoverse HitchHiker’s Guide to EOS’, with ‘Don’t panic! (a.k.a FUD)’ on its cover. The guide goes back to the history of Cryptoverse…

Bitcoin miners were swallowed by the Giants called ASICS, while people on Ethereum planet were suffering from increasing transaction price(called Gas price).

I myself also came to consider emigrating to another chain(a.k.a. planet), after I went through the sudden Lag (when everything became terribly slow). Yeah, some say that the CryptoKitties factory was over-visited by Ethereum holders at that time.

The Guide showed another way through EOS, promising to resolve any inconveniences (Beware, we are free to have doubts).

Move Now to Planet EOS!
EOSIO is the heart of the planet. EOSIO is specialized in building blocks and chaining them. No more extra worries on Gas price. No transaction fee guaranteed on planet EOS!

The planet called ‘EOS’ is another transparency guaranteed, blockchain-based planet. The difference is that unlike Bitcoin or Ethereum planet, this one appeals with its Fast and Efficient everything. That said, we may live with convenience. And EOS guide kindly describes the governance and emigration process.

Well, there are twenty-one factories. These produce blocks to make sure EOS rotates well (as normal planets in Cryptoverse need chained blocks to rotate). The block producing factories will be elected by the EOS citizens (who holds EOS).

In order to be a citizen of EOS (and be able to vote), you must own a certain amount of territory. While one is free to live on EOS, one must have land to build a factory or building. You can buy tokens for land ownership (a.k.a. EOS token) on Ethereum. Anyone who holds “EOS(ERC20 token)” should register their token to EOS bank. Written below was a precaution with big letters.

**Beware! Only registered tokens are valid when EOS is launched.

Around the corner, people with Metamask fox (which can hold Ethereum coins) were gathered together. A launchpad with EOS rocket was there.

“Why do you plan to live on EOS?”
I asked the one called Dan Larimer why.

“EOS is a planet where more people can live with happiness. Just like Earth. People can create wonderful services or products without huge expenses. Most importantly, it will be more equal(decentralized) than any other.”

Then I found ‘Dan Larimer’ in the EOS guide:

Dan Larimer(a.k.a. bytemaster)
He has long been conducted experiments on blockchain technology which powers planets. He is the one who created the well-known ‘Bitshares’ and the popular ‘Steemit’. He is one of the visionaries who tries to make the world a freer place by decentralizing power (and one of the excellents).

Curious, curious. I peeped through the window of an Exchange where EOS token was tradable. There was a big “No Gas, No Trade” sign stuck to the door. Suddenly, I thought of getting onto EOS rocket.

Looked for EOS tokens, and there was this charm:

Register EOS tokens to EOS bank NOW and receive AIR-DROPPING tokens from airplanes!
You can also VOTE if you REGISTER!

A Kind Explanation

What is EOS?

Dan Larimer, CTO of Block.one, has been wondering how we could build a platform where more people can use services freed from censorship and corruption. In this regard, he created the long-beloved service Steemit, which is an SNS made on a blockchain in pursuit of censorship resistance. The service started from this consideration:

“Everyone’s meaningful contribution to the community should be recognized for the value it adds. (from Steemit Whitepaper)”

In Steemit, people write and votes(upvote) to good contents. More vote, more currency(steem dollar) people get.

Larimer pondered on how to replicate services like Steemit on a bigger scale. This led to the creation of EOSIO. Simply put, EOSIO is an OS(operating system) like Android. As we have tons of smartphone applications on top of Android, EOSIO will become an infrastructure enabling us to build DApps(Decentralized Applications) on top of blockchains.

What is its advantage?

Many blockchain projects are targeting to resolve scalability problem, as for now, blockchains are too slow to let the majority in. EOS is trying to solve this scalability problem with methods that have been proven through services like Steemit. When mainnet is launched(planet starts to rotate) in June, EOS will prove itself if it could become a scalable platform.

Moreover, there is no transaction fee. Ethereum is a good platform too, yet users have to pay for Gas(transaction fee). If a user tries to make any transaction, he/she has to pay an additional fee for the transaction itself. How inconvenient? We know Vitalik is putting his efforts to solve this, but more and more people are expecting EOS’ mainnet launch in June (of course we also welcome Ethereum’s sharding and all).

For now, everyone can try EOSIO’s beta version Dawn 4.0. A lot of developers in EOS community are already experimenting with it. On another side, various DApp projects are going on and we are excited to see what will come out! On EOS, completely new services can prosper, accustomed to EOS ecosystem and they will be different from normal apps. We will discuss which DApp ideas are possible later in EEG channel.

Did EOS get your curiosity? You are always welcome in EOS community! Welcome abroad.

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EEG Writer: Orchid Kim
We Vitalize EOS Ecosystem.
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Founding Block Producer of EOS Mainnet in Chain Partners

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