What is EOS ?

Since then, entrepreneurs, developers and enthusiasts have been working to promote this technology so that more real-world applications can be implemented on a block-chain platform. The However, there are still some technical bottlenecks in the block chain technology, such as the limited transaction capacity of payment network processing, the high transaction fee, the vulnerability of the transaction network and so on.
EOS is a new block chain architecture developed by Blockone to achieve the performance of distributed applications. The goal of the EOS project is to implement a block-chain architecture that supports the same application system as an operating system. The architecture can provide account, identity authentication, database, asynchronous communication, and program scheduling on hundreds of CPUs or clusters. The final form of the technology is a block-chain architecture that can support millions of transactions per second, while ordinary users do not have to pay for usage fees.

 For a detailed description of the EOS project, please refer to the EOS Technical White Paper.

 1、EOS tokens function

 EOS Cryptography The current form of the currency belongs to the ERC 20 Smart Contract Token on the chain of the APF block. The EOS ERC 20 token will be converted to the cryptographic currency available in the EOS system after the EOS block chain is officially launched. EOS system is expected to be released in August 2017 test network, EOS block chain on-line network is expected to take 1 year. The following application scenario is introduced when the EOS block chain is officially launched.

 EOS cryptography currency has three main application scenarios: bandwidth and log storage (hard disk); calculation and calculation of reserves (CPU); state storage (RAM).
Instantaneous use and long-term use of both components will consume bandwidth and computing. The block chain system will maintain the log of all messages, which will be downloaded and stored by all the full nodes. Through the log information, you can refactor the status of all applications.

EOS cryptography The currency application scenario can be interpreted as:

1. Receiver payment: Customers purchase specific products from the business, and sales of these products will be used to pay for business costs, to avoid customers directly to the use of block chain to pay the cost, nor to limit or prevent the enterprise to determine their products Monetization strategy.

2. Authorization: If a block chain is developed using the EOS software system and its tokens are held by a holder, he may not need to consume all or part of the available bandwidth immediately, so that the holder may choose to Unpaid bandwidth given or leased to others.

3. Separate the transaction cost from the token value: If the application owner holds the corresponding number of tokens, the application can continue to run in fixed state and bandwidth usage. Developers and users are not affected by the volatility of the tokens market and therefore do not depend on the price.

4. Block Reward: Each time a block is generated, the EOS.IO system will reward the block builder for a new token. The system may be configured to limit the quota for the block builder, so that the total annual increase in the supply of the token is no more than 5%.

5. Community Benefits Application: Users can choose three community welfare applications, also known as smart contracts. These smart contracts will receive tokens based on the percentage of votes received from the token holder for each application. The selected application or smart contract may be made by the newly selected application or the agent's smart contract Alternative.

2、EOS tokens sales rules

EOS tokens sales from UTC time on June 26, 2013 13:00 start, EOS tokens sales will continue for 341 days. During this period, 1,000,000,000 EOS ERC - 20 entitlements will be distributed according to the following allocation ratio.

Tokens
Distribution time
200,000,000 EOS token
Will be allocated during the first five days of the month after the start of the sale. UTC Time June 26, 2017 13:00 to July 1, 2017 13:00
700,000,000 EOS token
Will be split into an average of 350 copies per 23 hours for a window period, each window period will release 2,000,000 EOS tokens, this stage will be UTC time on July 1, 2017 13:00 start.
100,000,000 EOS token
This part of the share will be reserved for the development of the EOS block chain company Block.one, this part will not be able to ERC20 pen in the form of the ether square network was transferred and transactions.

After each window period (the first five-day window period and after each 23-hour window period) is completed, the EOS tokens will divide the EOS tokens of each window period by the period The total number of participants in the ether square is equally distributed to each participant, as follows:

The number of EOS tokens received by each participant during the window period =a*(b/c).

A = the amount of money that each participant pays during the window period;

B = EOS toll release for each window period;

C = the total amount of ether coins paid by participants in all window periods.



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