I am trying to be as accurate with this article as possible, and I aim to be as unbiased as I can be. If there are errors in this article please post them in the comments. This article is what my current understanding of EOS is.
Many people may not know that Steemit , Bitshares and EOS were all created by the same person, Daniel Larimer. There is a lot of hype right now about EOS claiming it is the most likely Ethereum competitor. It was just released and quickly climbed to the 9th highest market capitalization on https://coinmarketcap.com/. Currently EOS can only be bought on Bitfinex and Kraken cryptocurrency exchanges. The ICO price was $ .80 a few days ago, and it is now at $4.10. The ICO runs for 341 days after the initial 5-day iICO, each period of 23 hours will have an allocated 2 000 000 token distribution. In other words there will constantly be more and more EOS flooding the market every day. While most cryptocurrencies distribute their ICO for a month, EOS is doing it for an entire year. Also EOS was built on the Ethereum platform. I am far from an expert, but here are some of my thoughts.
Here are my concerns:
1.) Too much supply and ICO is too long.
2.) Does not have the reputation or business following that Ethereum has. It will take time to achieve this.
3.) Its valuation is based on a idea that has not even been released yet.
4.) There is no cold storage wallet that can be use for EOS at current time.
5.) Lacking information about it.
Here are some things that appear great about it:
1.) Daniel Larimer it's creater has designed some amazing things in the cryptocurrency world, even this site.
2.) Does not appear to be subject to scalability issues.
3.) Is a platform that claims to be able to offer more features than Ethereum
4.) EOS aims to be the main platform for decentralized applications.
5.) Proof of stake stake of model claims to be better than proof of work.
