World’s fifth most valuable cryptocurrency is set to formally release its software this weekend.
First announced in 2017, the EOS project has been fundraising for nearly a year, raising a reported $4 billion in what many are claiming is the largest amount ever collected by a team creating a custom cryptocurrency. As such, the launch, expected for Saturday, has come with no shortage of hype.
- EOS Tokens are ERC20 Ethereum tokens on Ethereum blockchain.
- EOS Tokens do not have any use cases nor represents any value.
- 1,000,000,000 EOS tokens will be distributed and will become frozen (non transferable) at the end of this distribution on Ethereum blockchain.
- There is a possibility that if a new blockchain is created using EOS platform (and same snapshot), registered token holder of EOS tokens will also have new Cryptographic Tokens.
As it is, these tokens have no value and will become non-transferable at the end of the distribution forcing you to retain them forever. I do expect the price of these tokens to go higher closer to distribution closure (June 1, 2018 22:59:59