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.
You are viewing a single comment's thread from:
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 ?