It's important to follow this tutorial before the 2nd of July, but the sooner the better.
If you prefer reading, I recommend going down to the bottom of this post to read the first two parts. For the last part, I recommend checking out the official source.
What Will I Learn?
- You will learn about what EOS is and how it revolutionizes the blockchain technology
- You will learn about EOS's ICO system, how to participate and everything about its ERC-20 tokens
- Most importantly, you be shown step by step instructions to registering your EOS tokens with Metamask.
Requirements
- A Google Chrome/Firefox browser.
- Access to any popular cryptocurrency exchange and/or a wallet with Ethereum and EOS.
- Basic knowledge of how Ethereum wallets work - how to transfer ETH to an address and/or how to cash out from an exchange.
Difficulty
The understanding of some concepts covered in this video may need an intermediate level of understanding blockchain technologies, but the registering process is very basic.
Description
In this video, you'll learn what EOS does, why it's exciting and how it impacts the blockchain technologies. You'll also learn how to register your EOS ICO tokens so you don't lose them when the mainnet goes live.
I've made this tutorial to link it to my fellow team members, but I figured I might as well go all in and prepare a solid tutorial. Enjoy!
Video Tutorial
Just click on the image below, or follow the link.
Promised extras: myethereumwallet version of the tutorial, participating in the EOS ICO, checking if your registration was successful
Timestamps
- What is EOS [0:23]
- EOS's ICO and how to participate [1:30]
- Registering Tokens [3:22]
Transcript
Hello Steem! My name is Victor. Welcome to my Introduction to EOS and registering it’s tokens. In this tutorial I’ll be explaining the following concepts:
- What is EOS?
- The EOS ICO and how to participate.
- Registering EOS tokens.
What is EOS?
EOS.IO, developed by Daniel Larimer - the founder of the Steem and Bitshares blockchains - is a new, faster than ever blockchain for hosting decentralized applications, better known as dapps.
While the Steem blockchain is already a home to many fantastic decentralized applications (see Steemit, Utopian-io, Dtube, Dlive etc.), its blockchain structure is focused on creating a social media platform rather than a platform to support development. EOS is far beyond that, and as Dan himself said, he could build a whole new steem blockchain as just a single application on EOS.
It is also often proclaimed as the “Ethereum killer”, because it’s very similar in concept, but offers thousands of transactions per second rather than Ethereum’s 15. This potentially enables services like Credit Cards, Ebay or Facebook and others, in their full scale, to be developed on the EOS blockchain, which is not even close to remotely possible on Ethereum.
The EOS ICO and how to participate.
No time to watch? Prefer reading? Trouble understanding my english? I got you covered.
New technology does not grow on trees. Exploring, discovering and implementing new and exciting solutions takes time of the best experts in the field. And as someone said a long time ago - “Time is money friend”.
Because of that, block.one needed money. And in the cryptospace, there’s a very popular way to get money. Initial Coin Offering, or ICO for short, is the business strategy of many new developing blockchains. The premise is simple - you pay the company Bitcoin, Ethereum or one of other common coins - they give you their coin in return. Depending on the project, this coin may have different functions and value, but it can also vary in form - the current EOS ICO token is an Ethereum’s ERC-20 token, which means it currently has nothing to do with the EOS blockchain and is safely stored on the Ethereum blockchain instead,
This is nothing to worry about, though. It is only this way because the EOS blockchain is still in development and not to be launched until day one of “mainnet” when EOS.IO goes live. The tokens had to be stored somewhere in the meantime, and it just so happens that ERC-20 is the safe, tested way of doing this. Once the mainnet goes live, the tokens will be converted 1:1 to the new EOS coins.
This is also why you need to register your tokens, which you will learn to do later in this video. All unregistered tokens will not be transferred to the EOS blockchain and be forever frozen on your Ethereum wallet
If you want to get your hands on some EOS, you can find the token on all major exchanges. The alternative is to bid with your Ethereum on the official EOS website, but it’s quite complicated and definitely not a subject for this tutorial. If you want to know how to do that, I’ll leave the link down in the description.
Thank you again, and I hope this helped. If you want to chat to me about EOS, you can always catch me on our Utopian Discord server!