EOS.IO is a blockchain protocol based on the cryptocurrency EOS. The smart contract platform claims to eliminate transaction fees and also conduct millions of transactions per second. It was developed by the private company Block.one and launched in 2017. The platform was later released as open-source software.

History

Based on a

white paper A white paper is a report or guide that informs readers concisely about a complex issue and presents the issuing body's philosophy on the matter. It is meant to help readers understand an issue, solve a problem, or make a decision. A white pape ...

published in 2017, the EOSIO platform was developed by the private company Block.one and released as open-source software on June 1, 2018. At the launch of the blockchain, one billion tokens were distributed as

ERC-20 Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether (Abbreviation: ETH; sign: Ξ) is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capita ...

tokens by Block.one. The CEO of Block.one, Brendan Blumer, announced that the company 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 An initial coin offering (ICO) or initial currency offering is a type of funding using cryptocurrencies. It is often a form of crowdfunding, although a private ICO which does not seek public investment is also possible. In an ICO, a quantity of cr ...

(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. The name of the cryptocurrency EOS comes from

Ancient Greek Ancient Greek includes the forms of the Greek language used in ancient Greece and the ancient world from around 1500 BC to 300 BC. It is often roughly divided into the following periods: Mycenaean Greek (), Dark Ages (), the Archaic p ...

Ἠώς, "dawn". EOSIO's Dawn 1.0 was launched on the EOSIO mainnet on June 1, 2018, and is currently operating under version 2.1.0. In September 2019, Block.one agreed to settle

U.S. Securities and Exchange Commission The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market ...

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.

EOS Network Foundation

In August 2021, Yves La Rose founded the organization EOS Network Foundation (ENF). La Rose is an EOS enthusiast who disputes the way Block.one has managed to blockchain and its tokens. The organization has attempted to pressure Block.one into reinvesting its profits into development of the blockchain, and to support new development.

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 is an action-adventure game developed by Japan Studio and Team Ico, and published by Sony Computer Entertainment, released for the PlayStation 2 video game console in 2001 and 2002 in various regions. It was designed and directed by Fumito U ...

). Daniel Larimer was the Chief Technology Officer of Block.one. Larimer had previously worked on the decentralized exchange Bitshares from 2013 to 2016. After that, he worked on Steemit, a blockchain-based social media platform. On January 10, 2021, Larimer announced his resignation from Block.one. On December 6, 2017, Everipedia, a for-profit,

wiki A wiki ( ) is an online hypertext publication collaboratively edited and managed by its own audience, using a web browser. A typical wiki contains multiple pages for the subjects or scope of the project, and could be either open to the pub ...

-based

online encyclopedia An online encyclopedia, also called an Internet encyclopedia, or a digital encyclopedia, is an encyclopedia accessible through the internet. Examples include Wikipedia and ''Encyclopædia Britannica''. Digitization of old content In January 199 ...

, announced plans using EOS blockchain technology and work on an

airdrop An airdrop is a type of airlift in which items including weapons, equipment, humanitarian aid or leaflets are delivered by military or civilian aircraft without their landing. Developed during World War II to resupply otherwise inaccessible tr ...

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. The goal is that once Everipedia is decentralized and hosted on the EOSIO platform, countries such as

Turkey Turkey ( tr, Türkiye ), officially the Republic of Türkiye ( tr, Türkiye Cumhuriyeti, links=no ), is a transcontinental country located mainly on the Anatolian Peninsula in Western Asia, with a small portion on the Balkan Peninsula in ...

and

Iran Iran, officially the Islamic Republic of Iran, and also called Persia, is a country located in Western Asia. It is bordered by Iraq and Turkey to the west, by Azerbaijan and Armenia to the northwest, by the Caspian Sea and Turkmeni ...

that block Wikipedia will no longer be able to block it, via Everipedia's fork.

Mike Novogratz Michael Edward Novogratz (born November 26, 1964) is an American investor, formerly of the investment firm Fortress Investment Group. He is currently CEO of Galaxy Investment Partners which focuses on investments in cryptocurrency. Early life R ...

, 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.

References

External links

* {{Cryptocurrencies, state=expanded Cryptocurrency projects Companies of the Cayman Islands 2017 software Blockchains Ethereum tokens