Read the Whitepaper here
We are finally here, at the conclusion of the walk-through. Before we begin, I would like to thank you for reading my series. I hope I've provided you with a better understanding of what the EOS project sets out to do.
Conclusion.
The EOS.IO software is designed from experience with proven concepts and best practices, and represents fundamental advancements in blockchain technology. The software is part of a holistic blueprint for a globally scalable blockchain society in which decentralized applications can be easily deployed and governed.
EOS.IO represents the maturation of blockchain technology, and pushes fundamental changes in how businesses will created and run in the future.
It will be difficult to imagine a future where a business does not utilize blockchain.
Such a business will be less efficient, less transparent than its blockchain counterpart.
It will not be able to gain the trust of other businesses due to a lack of transparency.
It will not be able to gain the trust of investors due to a lack of accountability.
Business partners will be able construct contracts that automatically execute on fulfilling certain conditions.
For Business developers, EOS offers a simplified structure that is familiar to business and users alike, with accounts, permissions, and hierarchical decision-making structures.
For developers, EOS.IO offers a programming languages with libraries that are tested and trusted over many decades, lowering the learning cost and the hazards of using a new programming language.
A careless mistakes in a smart-contract today can easily cause millions of dollars in damages. This keeps all but the bravest or the most reckless programmers to take on such a task.
EOS.IO allows for program updates and written documents that state the intention of the program so that correction can be made in a timely fashion. Mitigating the risk associated with, and giving assurance to more people to join to create blockchain applications.
EOS will bring blockchain applications that are user friendly, without requiring sophisticated new hardware or extensive knowledge of the blockchain technologies.
Though Bitcoin promises to give take power after evil banks and corrupt governments. But the truth is, of those who have access to Bitcoin, almost all of them have live in societies that have a stable government that have strong regulation preventing financial institutions from arbitrarily confiscating their savings.
They have good access to internet connection, and computer hardware that people who need Bitcoin can only dream of.
In short, Bitcoin is owned by, and used by, the rich.
EOS' ancestor, Steem, proved that this does not have to be the case. With Steem, anyone with an average smartphone and knowledge of how to use a website could use the Steem currency.
More people's lives have been transformed by Steem than by Bitcoin. Although Bitcoin might have made a few individual incredibly rich, Steem have lifted thousands out of poverty and given them, and, for the first time, protection of private property.
The technological innovation brought forth by Bitcoin has to be accompanied by a governing innovation so that those who do have access to adequate governance, and the same protection of private property as those currently hold Bitcoin.
The EOS.IO software represents the maturation of blockchain software. It'll be a software stack that allows for application that is built to be as fast as, and be able to handle the scale of , and more secure, than application built with traditional technology.
But EOS is not without it's problems.
Namely, the concentration of capital, or tokens, in the hands of a small group of people. Bitcoin, Ethereum, and numerous other currencies, secure by cryptography or not, over time concentration in the hands of a few individuals if left unchecked.
This will create centralization whether or not the systems is one of Proof-of-Work or Proof-of-Stake.
If blockchain technology is really to fundamentally reshape the world, we need policies to guide it to make sure that more and more people have access to capital, or tokens, in order for the system to truly stay decentralized.
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If you would like to know more about me and what I'm doing you can read my introduction post here.
Read my series on the Steem blockchain:
Steem: Welcome to the Matrix. Part One
Steem: Operating in the Matrix. Part Two
Steem: Construction of the Matrix. Part Three
Read my series on the EOS blockchain:
EOS whitepaper walk-through. Abstract
EOS whitepaper walk-through. Note and Disclaimer
EOS whitepaper walk-through. Overview
EOS whitepaper walk-through. Background
EOS whitepaper walk-through. Requirement.
EOS whitepaper walk-through. Consensus Algorithm. Part One, Part Two, Part Three.
EOS whitepaper walk-through. Account construct of EOS. Part One, Part Two, Part Three, Part Four.
EOS whitepapre walk-through. Parallel execution of applications. Part One, Part Two, Part Three, Part Four, Part Five.
EOS whitepaper walk-through. Token model and resource usage. Part One, Part Two.
EOS whitepaper walk-through. Governance.
EOS whitepaper walk-through. Scripts and Virtual Machines.
EOS whitepaper walk-through. Inter-blockchain communication.
And you can contact me in the following way:
@bluabaleno on Steem.chat
bitadco@gmail.com