Can you please explain why EOS is issuing EOS tokens on an Ethereum blockchain and not on Bitshares ?
Bitshares is on the Graphene blockchain which is much faster that the Ethereum Blockchain.
Why not using Bitshares ?
Thank's
Can you please explain why EOS is issuing EOS tokens on an Ethereum blockchain and not on Bitshares ?
Bitshares is on the Graphene blockchain which is much faster that the Ethereum Blockchain.
Why not using Bitshares ?
Thank's
This is done on Ethereum because it results in an auditable, trustless process to keep track of all ETH contributions. That way, anyone can determine from the blockchain exactly what the distribution of EOS tokens should be and compare it with the actual distribution of tokens on the EOS network when that blockchain is launched. Since anyone could launch an EOS blockchain, we need to be able to compare the token distribution with a known distribution that we can trust. If this was done on Bitshares, we would not have a smart contract system to provide an auditable, trustless distributon for us. It needs to be done on a smart contract platform.
Nailed it. I campaigned for BTS and STEEM to be the funding tokens but in the end neither can do a smart contract and a smart contract is what was needed, so ETH was the only choice. This is why ETH is dead - EOS is Graphene smart contracts.
Looking at the EOS token purchase agreement which is not for us citizen and guarantee nothing to anybody, i have some problems with this answer.
The EOS token purchase agreement, in my opinion, is not a smart contract, it is an absence of any contract.
Distribution could have been check on the graphene blockchain also, couldn't it ?
Dan said the required smart contract could only be done on Etherium, in the EOS Telegram, when asked about this.
My only thought is they are trying to cash in on the ETH ICO craze? People seem to be throwing money at the ETH ICOs left and right. Perhaps more name recognition?
More users on the ETH blockchain, yes, I agree. But it could have been a good opportunity to increase the number of Bitshares users. Looking at the capitalization of Steemit and Bitshares, I don't think @dan and @stan need any money to finance a new start'up.
That's a very good question, especially in light of the current ETH network issues.
They should have done it on Tradeqwik ;)
Ever think about what it would mean if the Ether blockchain couldn't handle the buzz? Money would plow into bitshares.
With a one year ICO, and the choice of distribution formula, there is no way the Ether blockchain cannot handle it.
They what the attention of the Ethereum comunuty