It’s a layer 1, Generation 3 blockchain called “EOS” or “EOS Mainnet” and a cryptocurrency with the symbol $EOS. There are no miners. Instead, token holders elect groups called Block Producers who process transactions for the network. Using elections instead of competitive mining allows the EOS blockchain to be <1sec fast, have (super) low fees and high throughput capacity
The EOS Network Foundation (ENF), the first community-founded organization to take over a platform’s original founding company, Block.one in this case, has received 6.5 million EOS (~ $21 million) directly from the community, underlining EOS’s definitive cut with Block.one.
After endless speculations and negotiations between the ENF and Block.one, who had been accused of failing EOS
EDEN is a new way to decide who should make decisions, known as “Fractal Democracy”. It is based on Dan’s book More Equal Animals. Members are randomly assigned into groups of 4-6 people. The objective is to persuade your group that you are competent and trustworthy enough to represent the group in the next round. It then repeats with all the winners of the first group. With the final 4-6 people, the winner is chosen randomly to prevent incumbent advantage.
Fractally is going to inherit the best features of social media platforms, high-performance smart contracts and decentralized governance processes. As the developer notes, Fractally will include “lessons learned” from his first two blockchains: BitShares and Steem.
This vision brings together all the lessons learned from my first two blockchains.
The world’s largest EOS.IO meet up group, this is a community that is interested in learning, facilitating education, developing and launching the EOS.IO blockchain technology. Also a place to curate networks within the space for potential development and collaboration.