What You Should Know About EOS.IO
By Sujit Kumar Pathak on The Capital
Powered by EOS, the native cryptocurrency, EOS.IO is a blockchain protocol. You can also call it a platform of smart contracts. In this platform, millions of transactions are done per second. Also, there is no need for fees for the transaction. Let us know about EOS.IO and its history in this blog.
Know About EOS.IO
On June 1, 2018, EOSIO was introduced as open-source software which was based on published whitepaper in 2017. Block.One, a private company is known to have developed it. If you are abreast of Eos crypto news, then you will know about the distribution of one billion tokens as ERC-20 by Block.One. It was done with the motive to widespread EOS cryptocurrency. It enabled everyone to launch EOS blockchain till the time of the release of the software.
Brenden Blumer, the CEO of Block.One announced the support provided by the company for EOSIO blockchain around one billion USD from the token sale. Finally, around four billion USD was raised by Block.One in support of EOS blockchain. It all happened during the period of ICO (Initial Coin Offering). There were many versions of Dawn test net released from 2017 to 2018. Then finally on June 1, 2018, EOSIO mainnet was launched by EOSIO’s Dawn 1.0. It operated under the 1.8.1.
If you have been following the Eos news today, then it might remind you about the penalty of $24 million regarding unregistered ICO which was $4 billion. Block settled the charges made by the U.S. Securities and Exchange Commission.One in September 2019.
More About EOS.IO
If you want to know about EOS.IO, then let us brief you with its remarkable achievement. According to market capitalization, EOS became the seventh-largest blockchain in the world. Since February 2019, the value of EOS hit $3 billion. However, fears were circulating about its centralized structure. The fear concluded about the big nation, China holding its authority and grasping the lion’s share of its entities. Following $4.1 billion ICO, Block.One became the most significant token holder when it launched the code behind EOS.
In June 2019, an early member of the Block.One team who is still a consistent member of EOS Community made a statement about Chinese oligarchy taking control of EOS. According to him, the reason for the threat which was prevalent in the centralization was risks and regulations. If in the countries, like Brazil and India, the BPs for EOS came to be around 90 percent, then the similar concerns would still be persisting in centralization.
Conclusion
So this is something which you must know about EOS.IO. EOS.IO is an essential concept in the cryptocurrency, which every crypto enthusiast must know about. According to a former member of Block.One team, there were fears regarding EOS which might fall under Chinese ownership. The factors which surrounded the threat about it were regulations and risks. Since February 2019, the value of EOS hit $3 billion. It became the seventh-largest blockchain in the world. If you are curious to know more about the EOS and the developments taking place around it, then better stay abreast of EOS news and get updated with all the latest happenings.
