Welcome to the first Coin of the Week article of 2018, throughout this series a coin will be discussed each week, detailing various information, for example: the potential/projection of price, topical news, the coin's developers and other miscellaneous information.
The first coin to be discussed in this series is EOS.
EOS works similarly to Ethereum, in the sense that it will enable smart contracts - however with interesting scalability and performance benefits. In a very general sense EOS is a platform that supports decentralised applications, and hence it is designed to be a very efficient way for developers to create decentralised applications (an example of a decentralised application being Steemit).
EOS has gone through a very different distribution process to most other ICO processes. EOS token distribution began on the 26th of June 2017 and takes place for the following 341 days, up until the final ICO tokens are distributed on the 1st of June 2018. During this period 1 billion tokens will be distributed, and within 23 hours of the final distribution period on June 1 2018 (22:59:59 UTC) all tokens will become fixed and non-transferable on the Ethereum blockchain. A detailed distribution schedule can be seen below.
Further information regarding their ICO process can be found on their website: https://eos.io/
As some (or most) of you may know the developer for EOS is Dan Larimer (
Currently at the time of writing, EOS sits at $10.92USD (according to coinmarketcap), this comes after a very bullish run between October 2017 and the end of December 2017. Given the large jump the price of this token took, it is certainly an amount that may intimidate buyers, especially if you were around to see it around and even under $1.
However, despite this, EOS tokens are still astronomically undervalued - as their ICO finishes at the beginning of June and this year (and leading up to this point), expect an enormous pump. Coming hand in hand with the end of the ICO will be the launch of the EOS main net, and if EOS show even parts of what they're promising, then the price of the tokens will go through the roof.
There have been many price projections made by various people over the past months, ranging from $80USD to $250USD by the middle of this year - a very fair estimate for the tokens by mid/late June is $100USD, and at this stage this may even be a bit of a low ball.
EOS uses a "Delegated Proof of Stake" model, which allows users within a community to elect "delegates" (rather than random individuals verifying the block chain for profit in proof of work, or where few large stake holders control power in POS) which perform the tasks establishing the backbone of the network. These delegates will get elected by the community every so often where if one is behaving poorly a new one will quickly take its place.
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Thank you for reading! Feel free to leave any feedback, thoughts, opinions or suggestions for coins you would like to see in this series.
