EOS Fratricide or Family Dynasty?

in #bitshares5 years ago (edited)

Today marks the long-awaited launch of EOS 1.0 and its BitShares and Steemit siblings should be rejoicing.

It's kind of like the Jackson Five brothers may have felt when a very young Michael Jackson joined their group. The "Graphene Three" will be the stuff of legends - and who knows how big the family may become? (Yes, I know there are already at least 7 members of the Graphene Dynasty, but bear with me, I'm trying to keep this article short.) The group already processes 70% of the industry's public transactions without EOS and, with the addition of a new $4B lead singer, should go on to make beautiful music together. That was certainly the message of my Keynote Speeches at the Big Data conference in Guiyang, China last weekend.

I laid out the framework for this two years ago with Blockchain Platform Surfing. In the Graphene ecosystem, we embrace platform independence and keep up with technology. Just like the BTS community did with the original BitShares "pitch fork" in October 2015. They completely pitched the version 1.0 code and switched to 2.0 code in three seconds without disturbing any user accounts or their holdings.

These days the community is more likely to keep all the fork tines, for backward compatibility, than to advocate big changes to any heavily used platform. But with air drop technology (another BitShares industry innovation five years ago), the addition of complementary parallel chains is the natural way to keep the holders of veteran chains whole as new components are added. Regulatory meddling may make this more complicated than necessary, but the outcome can always be engineered to achieve fairness to past supporters while using new chains to add functionality to the composite web of chains.

Now for the Meat!

A much appreciated bitspark article, How Will EOS Impact BitShares?, today made a lot of great points. I'd like to amplify and harmonize a few riffs on that article here.

First, a few axiomatic observations

  • BitShares does not need an EOS upgrade to do what it does best -- for a long time to come.
  • BitShares is better positioned to adopt selected EOS upgrades than anyone else because of its Graphene heritage.
  • EOS is designed for integration with other chains - it is not necessary to be on EOS to play with EOS.
  • EOS does open the door to others to achieve what BitShares already does, but...
  • ...that door has always been open by simply forking BitShares - which no one has done successfully.
  • BitShares leads the industry in DEX transactions - no other chain is used as much as seen on blocktivity.info
  • BitShares may actually be a better investment target than EOS, because of its pedigree, track record, and room for growth in price.
  • EOS gives credibility to Graphene which gives credibility to BitShares - All three can be synergistically marketed.

Steemit can make similar claims from a technology standpoint. It's problems stem from the existence of anti-social whales that wreck havoc on the platform's good will. It's the community, not the technology, that matters. You can always get new technology, it's hard to build a new community.

Thus, BitShares and Steemit can still control their own fate by providing services and ecosystems that people want to use. EOS technology is not the issue. It will be there when either older sibling needs it and it is not the determining factor in their continued success.

Announcement - Billion Hero EOS Easter Egg

Today the Billion Hero Campaign announced that it will be adding EOS training and points for using EOS to its ways to earn voting power toward allocating a billion dollars worth of endowments to 12 voter-selected causes. Just another example of a way in which Grand Unification of the Graphene Ecosystem is taking place. I'll have a separate post on that.

Bottom Line:

What determines the success of BitShares is demand for BTS,
and EOS, properly embraced, will generate more demand for BTS.

We have access to all the technology and services EOS brings to the table to bring in new customers for BitShares products and services:

  • EOS technology.
  • EOS hype.
  • EOS customers.
  • EOS products and services.

BitSpark is an example where EOS wouldn't make a bit of difference - other than positive opportunities. There is an unlimited supply of such use cases where BitShares is a perfect fit. Michael Taggart just described BitSpark's synergistic role on Medium today: BitSpark - the New Blockchain Powered Remittance System..

As I work to bring new businesses like BitSpark into the Graphene ecosystem, I always paint the picture as a family of products and services that can be customized to meet their business objectives. And the place to start is usually BitShares - the platform that will never die because it can always leverage the strengths of other family members.

Ethereum, on the other hand, might not be so willing and able to adapt.
And that will make all the difference.

A, B, C
It's easy as...
1, 2, 3
Or simple as...
A, B, C; 1, 2, 3;
That's how easy this can be!



interesting few days ahead

Well, let's get this moonshot going so I can cash-out first!

Congratulations Stan and Dan Larimer for creating these amazing platforms.

odd. openledger gets hacked today @stan.

Great info. Thank you @Stan! We're looking for a crypto recurring payment solution. So far, it's been tough to find. We'll be contacting BitSpark to see if they might fill that need.

This group is u.s. 70 business dealings have been very good for me and I liked that statement given by your Chinese, and in this post you have presented many important issues and many good things. @stan

EOS will be the savior of crypto. The mainnet launch is an epic milestone. great article @stan

Esperando el verano de #bitshares con anelo, cambiara mi vida.

Thanks for the article Stan. Excited for the BTS and EOS future.

srill trying to get my head around BENCH and how it fits in. I know it will be the highway that connects all blockchains, but:

is it Bitshares 3.0 or a completely separate project chain ?
Does it have its own token or use the BTS token ?
If it uses BTS, token, to use BENCH will you need to buy BTS and use this to convert from one blockchain to another ?

If you could clear these up that would be great

Thanks for all your hard work in the community

"BitShares 3.0" is a code name for a family of projects that are seeking to advance BitShares technologies in various ways. Each is an independent team with independent goals. We are encouraging all but endorsing none until they are ready for prime time and their utility and impact is more clear.

Bench is a project of Bench Labs which is one of the more high-risk-high-payoff concepts we have seen. It's up to them to decide what to release and when.

Thanks for reply Stan but with respect it didn't address any of the questions. As a long term investor and supporter of BTS Im sure you can appreciate the need to get answers to these questions.

Like I say I don't mean to sound rude or unappreciative, but just want to understand where BENCH fits in or if it's something completely separate to BTS


So do we. Time will tell. :o)

Ok I'll just need to be patient lol

Thanks for reply

The much anticipated EOS is before us
Never seen an anticipated Crypto main net launch moment like this before

Right on

It’s all good but Steem is the best thanks to @steemmonsters


It will be the sensation of the moment. We expect a lot from EOS and we are sure that it will only bring with it success

Main Net xmas time is here

I've only been with BitShares a couple of years and Steemit since May 17 but my first impressions back then and since... how I've come to appreciate both platforms has grown and grown. I expect my appreciation for EOS to grow as well.

Thank you for all that you do - the posts, YouTubes, The HERO - everything. How much you've contributed to all of us is incalculable. You, and these communities, are very much appreciated. I wish us all Good Health and Good Fortune. Cheers, Guys & Gals - Many Thanks

Does anybody knows what EOS stand for?
Broke Peers owns block one, if EOS fails who will make the most money?
Remember Bitconnect?
Don't believe me, do your own research.

Gotta love those who will take some facts and misspeak them, twist them to a different story and then report it as fact and then say look it up, it's true. Well, I did just that after watching 1:27 of the video and found how this individual twisted everything up and lost all credibility in my eyes for ANYTHING that's to follow in his video. The only thing I agree with that he said is DO YOUR OWN RESEARCH and get the facts straight if it doesn't seem to make sense. Sad.

Yes, doing the research is imperative, however, you must remember Brock Peers owns block number one and if EOS fails he stands to get a fortune due to the fact that he owns the most ETH,. I did listen to the whole video and everything he said about Mr. Peers is documented for anyone who cares to research it. To me the owner of a Company must have integrity, because crocked companies means looses for those who ignorantly buy into it. Did Block.one/EOS lie again?? In March 2018 Block.one/EOS announced that Brock Pierce was leaving the company after John Oliver exposed his past involvement in dark deeds with children...yesterday Pierce gave a long speech about the greatness of EOS to a large crypto audience in Beverly Hills.He never left block one, now his wife is now forming a super node, he will own 4 super nodes. we want dis centralization.

Great piece of work...

This topic is interesting, I will review it and continue, I will seek to participate, successes!

This topic is interesting, I will review it and continue, I will seek to participate, successes!

I totally agree with you @stan in the sense that the hype, marketing and recognition of EOS will bring growth to its elder family members: steem and bitshares!

I actualy made 1 or 2 comments the past week referring to this.

Really appreciate the education you are giving to people on this matter!

Regards, @gold84

It seems that essentially anyone could integrate EOS and BitShares to "upgrade" current business models to be block chain compatible, in whatever particular way (x,y,z) company desires. This is so radical.

Great news guys! I think that such events with EOS really will have a synergistic effect for all projects and this is certainly pleasing. I am sure that we are now experiencing the great times of the technological revolution and such events will be milestones in the development of the Blockchain.

Присоединяюсь к поздравлениям!

This looks like its shaping up to be a bright future for EOS, Steemit and BitShares!


Thanks for share this . Resteemed it . Thanks

@stan please be aware of the same bug as last week currently effecting the bitshares wallet. It is not allowing BitHERO value to be recognized.

Great things happening...

lets moon this baby!!

BitShares is the best platform to date, keeping up with the times!!!

Bitshares is the best platform for trading crypto

Life, Liberty and Property! Thank you Larimer's =)

BitShares is the best platform

This is cool beans, Stan. I need some Freeos so i can help these elephants at https://billionherocampaign.com/author/btshares01/the-david-sheldrick-wildlife-trust/

learnt a lot about bitshares and eos since this post. Im excited to see what stan has in plan for the community and how bitshares can bring value to EOS, and vice versa