EOS blockchain operating system unveils year-long token distribution

EOS, a blockchain operating system designed to support commercial decentralized applications, today announced further details for its digital token distribution to be launched on Ethereum. Set to open on Monday, June 26, EOS’s token distribution follows a unique participation model that will take place over the course of one year.

Brendan Blumer, CEO of block.one, the open source software and blockchain company developing EOS said, “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.”

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:

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 the EOS operating system, creating a new level of transparency for business.

The broad EOS team is being led by blockchain veterans including:

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