EOS.IO is a blockchain protocol powered by the native cryptocurrency EOS. The smart contract platform claims to eliminate transaction fees and also conduct millions of transactions per second.
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. In order to ensure widespread distribution of the native cryptocurrency at the launch of the blockchain, one billion tokens were distributed as ERC-20 tokens by block.one. This provided the distribution to allow anyone to launch the EOS blockchain once the software was released.
Bitcoin: How Cryptocurrencies Work
The CEO of block.one, Brendan Blumer, announced that block.one 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.
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.
EOSIO's Dawn 1.0 was launched on the EOSIO mainnet on June 1, 2018 and currently operating under version 1.8.1.
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. The settlement did not require a restitution offer, registration of tokens, or any disqualifications.
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).Daniel Larimer is currently the Chief Technology Officer of block.one, notable for his role in building Bitshares, a decentralized exchange, building Steemit, a decentralized social media platform, developing delegated proof-of-stake and proposing the idea of a decentralized autonomous corporation.
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. One of the goals of the company is to stop certain countries from blocking the content, by the integration of the blockchain model. 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.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.
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Retrieved 6 August 2019.
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Retrieved 2 Oct 2018.
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"The Wikipedia Competitor That's Harnessing Blockchain For Epistemological Supremacy". Wired.
- ^"Novogratz's new fund, others invest $30 million in online encyclopedia". Reuters. 8 February 2018.