When Bitcoin debuted in 2009 as the world’s first cryptocurrency, it was deemed to be a technological marvel due to its usage of blockchain technology.
Being the first in utilizing blockchain and thus establishing itself as being profoundly unique for its time, Bitcoin maintained its status as the standard in decentralized blockchains for years to come.
However, a few years down the road, we have reached a point where decentralized blockchains centered on cryptocurrencies do not seem to be enough of a use case to leverage the full potential of blockchain technology.
Projects such as Ethereum and NEO have come to light in the past few years, and have pushed the envelope. These projects have established themselves as fully-fledged developmental machines, allowing for more use cases and potential.
With no system in place to actually allocate the funds locked in a savings account on its protocol, EOS is building a voting system to help with decision making.
EOS blockchain was scheduled to go live on June 9, 2018, at 1300 hours after receiving a ‘Go’ vote from block producers on June 8, 2018. Though it has not been confirmed just how successful this launch was, it is no in doubt that the entry of this new blockchain will have a significant impact on the cryptocurrency market.
EOS launched just a week after its creator, Block.one rolled out version 1.0 of the EOSIO blockchain software. This software allows community-driven and enterprise level businesses to create blockchain applications that are scalable.