Helpful as well. Will read the bts article next, great work man.
My question is: why is EOS hosted on the Ethereum network, how will they transition to their own platform and what will happen with the current tokens? You mentioned registering the token, I think I will dig some more to understand what that means ;)
Here is a link with info about registering the EOS: https://steemit.com/eos/@vegeto/exchanges-does-not-register-your-eos-tokens
Basically registering your EOS makes sure you get the "real" EOS once it comes out this summer.
It is hosted on the Ethereum network because EOS only has their test network up and so they used the Ethereum network as the best option to host until their network is a go.
EOS is known as the Ethereum killer for the reasons you read and because Ethereum is more blockchain 2.0 where EOS is blockchain 3.0
So once the EOS network comes out in July, all these dApps, businesses, and organizations will flock.
Cool, cheers.
So if I understood correctly in my research, instead of registering my current tokens in the classical way I couldamass my EOS in the form of open.Eos on openledger and have it automatically be exchnaged for regular EOS when the network launches?
Seems more convenient ;)
That is exactly what I am doing. Way more convenient :)
I just heard some info on the Bitshares hangout last week that made me want to make sure I had other options in case something happens to Openledger.
I will bring it up this Saturday in the Bitshares hangout to make sure this method is still a viable and convenient one :)
Awesome. I thought the network's strength comes through non-centralization. So even if Openledger went offline, we still have our investments in the bitshares network no?
even if not, I could see myself legitimizing my unregistered Eos I have in a wallet, transfer them to the bitshares network and have them verifyed that way. And maybe move them back to the wallet, when EOS launches.
Hope they don't close all our gateways on the network :)
I really shoudl dig some more, thanks man your answers have helped me greatly
You're very welcome. And yessirrr thats where it comes but more and more organizations and people are trying to change that it seems.
But yep our investments would be safe on the Bitshares network we just wouldn't be able to get it out using the Openledger portal.
I'm actually going to write a post today called "Why Not to Use Openledger" their CEO came out yesterday and talked during the Bitshares hangout and man was it embarrassing.
It is awesome that anyone can build a gateway to Bitshares, so Openledger is just one gateway. I know a couple ones are in development as well.