Luke Thanx for the update. EOS is definitely a great platform which will take care of scalability issues. But I have this question regarding EOS Tokens. What is the utility of EOS Tokens?
Bitcoin is a digital currency and we can use it instead of fiat currency but what is the functionality of EOS Tokens? Thank you.
EOS is like the AWS of blockchain technology. Many businesses, I think, will turn to them to power their blockchain activities. Just as companies needed to get on the Internet, they will need to get on the blockchain.
I have been looking at EOS for a while. At this point, the best course of action is probably to just hold tight and but after the snap shot.
Pretty sure that it will drop afterwards, like most coins have. If not, I guess I will have to pay more.
I believe EOS is a great project and that's why there is a mass adoption of it. I wouln't want to be left out. Thanks for the reminder, I'm looking to the benefit from the airdrop.
I do get why people still focus more on the financial returns, as it's an opportunity afforded to us. I mean, I can't blame them, since that was my initial priority as well. But, as more and more people realize the potential of how disruptive the technology is, I do hope that more people will hold on to the tokens for their true worth.
Do yo by any chance have an answer to this question for someone holding EOS on on exchange and no hardware wallet? If the exchange "plays ball", it is (technically, legally, etc.) possible that it credits its customer's accounts with the airdropped tokens (I would suspect so) or is that impossible (for whatever reasons)?
Thanks
I wouldn't trust my tokens on an exchange. The first rule of cryptocurrency is to own and control your own private key if you want to own the cryptocurrency.
I didn't exactly see a business case for why a community should be invested in being a blockproducer. Taking it as a #Steem #witness I can see it might be expensive to buy gear and have top tier SLA's but other than that it seems tough to get agreements in the community anyway mainly because of rational ignorance, cognitive bias or restrictions in knowledge. Crypto is hard for many newbies!
EOS block producers will have much higher infrastructure requirements than STEEM at this point, but the real value of eosDAC will be in building tools to help other DACs. My hope is we'll create a number of income-generating activities (not just block production) and that income will be controlled by all the members via the custodians.
Thanks to you @lukestokes for this breakdown. I just subscribed for the news later. Most of the questions I have were answered in the uploaded photos of question and answer session you held in Telegram.
To me it seems more like all these people are into eosDAC for the airdrop and not for the actual project, and sincerely I did not took the time to learn much about eosDAC, but just made sure I have everything set up for the airdrop, telling myself that I can learn about it later. I see it uses delegated proof of stake, but I don't know really what is behind the project.
A Decentralised Autonomous Community (DAC) is governed by its constitution, which is encoded in smart contracts on the blockchain. This revolutionary way of bringing a community together as a cooperative is made possible by the EOS software. The DAC is controlled by its token holders and the board members they vote to run its operations.
This looks just like Steem, Steem Power owners and witnesses, it may be different in some cases, but this is just things look like from here :D
eosDAC is a DAC enabler. We're going to be building tools for helping DACs succeed (tools we ourselves need as a DAC). It's not DPOS as there's no mining or block production as far as the actual eosDAC token (no inflation either) because it will be a token on the EOS chain, not a separate chain.
Luke Thanx for the update. EOS is definitely a great platform which will take care of scalability issues. But I have this question regarding EOS Tokens. What is the utility of EOS Tokens?
Bitcoin is a digital currency and we can use it instead of fiat currency but what is the functionality of EOS Tokens? Thank you.
EOS is like the AWS of blockchain technology. Many businesses, I think, will turn to them to power their blockchain activities. Just as companies needed to get on the Internet, they will need to get on the blockchain.
Thank you Luke.
Seems interesting, good luck :-)
I like this cryptocurrency news
Coins mentioned in post:
I have been looking at EOS for a while. At this point, the best course of action is probably to just hold tight and but after the snap shot.
Pretty sure that it will drop afterwards, like most coins have. If not, I guess I will have to pay more.
Wow. This is really nice. I have some questions to ask about the Eosdac but that will be on the telegram group. I will signup for the airdrop
I believe EOS is a great project and that's why there is a mass adoption of it. I wouln't want to be left out. Thanks for the reminder, I'm looking to the benefit from the airdrop.
I will just SIT TIGHT with my EOS and when I want my Air Drop Tokens I am sure there will be a wallet to put them in sometime in the Future.........
I guess I’m getting thousands of free eosdac’s 💪🏼🙌🏼😅😀
How do you find out your username on the EOS network once it launches? I didn't use the eos.io website, but the Bitshares DEX and hardware MEW wallet.
I don't think they have usernames yet. I heard someone say they were going to be random numbers. I'm not sure about any of that yet.
Awesome! I believe in Eos 😍
I do get why people still focus more on the financial returns, as it's an opportunity afforded to us. I mean, I can't blame them, since that was my initial priority as well. But, as more and more people realize the potential of how disruptive the technology is, I do hope that more people will hold on to the tokens for their true worth.
Exciting stuff. Keep up the good work @lukestokes
Do yo by any chance have an answer to this question for someone holding EOS on on exchange and no hardware wallet? If the exchange "plays ball", it is (technically, legally, etc.) possible that it credits its customer's accounts with the airdropped tokens (I would suspect so) or is that impossible (for whatever reasons)?
Thanks
I wouldn't trust my tokens on an exchange. The first rule of cryptocurrency is to own and control your own private key if you want to own the cryptocurrency.
I didn't exactly see a business case for why a community should be invested in being a blockproducer. Taking it as a #Steem #witness I can see it might be expensive to buy gear and have top tier SLA's but other than that it seems tough to get agreements in the community anyway mainly because of rational ignorance, cognitive bias or restrictions in knowledge. Crypto is hard for many newbies!
EOS block producers will have much higher infrastructure requirements than STEEM at this point, but the real value of eosDAC will be in building tools to help other DACs. My hope is we'll create a number of income-generating activities (not just block production) and that income will be controlled by all the members via the custodians.
Thanks to you @lukestokes for this breakdown. I just subscribed for the news later. Most of the questions I have were answered in the uploaded photos of question and answer session you held in Telegram.
Grateful for this piece. Thanks
@eurogee of @euronation community
What is that
Excellent...take a peak (If you would) at most recent market posts. Accurate? Be the judge. thanks much..
Keep it up!
Thanks you. That is my plan..greatly appreciated.
To me it seems more like all these people are into eosDAC for the airdrop and not for the actual project, and sincerely I did not took the time to learn much about eosDAC, but just made sure I have everything set up for the airdrop, telling myself that I can learn about it later. I see it uses delegated proof of stake, but I don't know really what is behind the project.
This looks just like Steem, Steem Power owners and witnesses, it may be different in some cases, but this is just things look like from here :D
eosDAC is a DAC enabler. We're going to be building tools for helping DACs succeed (tools we ourselves need as a DAC). It's not DPOS as there's no mining or block production as far as the actual eosDAC token (no inflation either) because it will be a token on the EOS chain, not a separate chain.
Indeed, sorry for that, I was reading their page quick and did not noticed that the DPoS was actually a description of EOS and not eosDAC, my bad!