GEORGE TOWN, Cayman Islands, June 22, 2017 /PRNewswire/ -- EOS, the first blockchain operating system designed to support commercial decentralized applications, today announced further details for its digital token distribution to open on Monday, June 26. EOS's token distribution follows a groundbreaking participation model that will take place over the course of one year creating the fairest token distribution project launched on Ethereum to date.
"To ensure inclusivity, EOS are not sold for a fixed price, but sold at a price determined by market demand; this mimics mining, but does not offer unfair advantages to large purchasers," said Brendan Blumer, CEO of block.one, the open source software and blockchain company developing EOS.
block.one will distribute one billion EOS ERC-20 compatible tokens, called "EOS Tokens" over 341 days starting on June 26, 2017 at 13:00 UTC following the below schedule:
EOS is being designed to scale mainstream development for large enterprises, currently unsupported by existing blockchain platforms. EOS introduces asynchronous communication and parallel processing to support millions of transactions per second, higher than that of Facebook and Google at 52 and 40 thousand per second, respectively.
EOS is being designed to support distributed applications that have the same look and feel of their centralized counterparts, including eliminating the requirement for the user to pay for every transaction. This enables new blockchain users to get involved without having to navigate the complex process of purchasing a cryptocurrency and should help to spur the industry. It also means any type of application can be built, run, and governed by EOS's operating system, creating a new level of transparency for business.
The expansive EOS team is being led by blockchain veterans:
Full details of the token distribution are disclosed in the terms and conditions, at eos.io.
About block.one
block.one is a developer of technology solutions including blockchain software development. With employees and advisors based around the world, including in Asia and the U.S., the company focuses on business-grade technology solutions, including EOS. For more information visit block.one and eos.io.
Disclaimer
All statements in this press release, other than statements of historical facts, including any statements regarding block.one's business strategy, plans, prospects, developments and objectives are forward looking statements. These statements are only predictions and reflect block.one's current beliefs and expectations with respect to future events and are based on assumptions and are subject to risk, uncertainties and change at any time. We operate in a rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you are cautioned not to rely on these forward-looking statements. Actual results, performance or events may differ materially from those contained in the forward-looking statements. Some of the factors that could cause actual results, performance or events to differ materially from the forward-looking statements contained herein include, without limitation: market volatility; continued availability of capital, financing and personnel; product acceptance; the commercial success of any new products or technologies; competition; government regulation and laws; and general economic, market or business conditions. Any forward-looking statement made by block.one speaks only as of the date on which it is made and block.one is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, subsequent events or otherwise.
