When everyone saw the price of the EosBlack token, They thought the price is just a speculative and it will go down. But it is not true, The present value is not because of speculation, actually very few went deeper into the website and there whitepaper. EosBlack is a fork/sister chain of eos, means EosBlack is a blockchain, it is a blockchain same like worbli, Telos, Evolution and Others. Many people confused with the website details, mostly talking about cryptofactory but many people not gone through the chat discussions in eosblack english channel or through whitepaper. Recently in August, team has released there whitepaper with details of consensus and governance idea. The governance of eosblack is one of the best ideas came from the team, But we need to check out how it goes when network launched.
Before we go in depth about it, eosblack offically announced that the project will launch it’s mainnet in Q4 2019 only, you can see clearly there roadmap on there website. Now what makes eosblack(we call it BLACK) blockchain different from eos and what makes it as most valued token on eos network ? The Dapps on BLACK chain don’t go through the process of ICO, all the required funds will be provide in a systamatic way, so that dapp developers don’t need to bother about financial requirments, The dapps which need to be accepted on BLACK chain will be decided by the token holder, Every dapp need to get approval from the token holders by voting system and it need to get certain amount of votes to be launched on BLACK chain. if it didn’t get the approval of TOKEN holders, Dapp will never get funding from the chain, developers cannot launch it on BLACK chain. that means the Dapps on chain will run by the token holders interest. the immediate question arises in your mind, why token holders vote for the dapp and how many token holders go through the project details and vote for the interesting Dapp they want to be on BLACK chain, To make token holders vote valuable and considering there efforts, BLACK chain will reward token holders with token for there efforts. In EOS network, user or Dapp developer need to stake his tokens to utilize the resources of network,this will create the shortage of tokens in network and price of token will go up. But in BLACK chain, user need to stake his black tokens to get his share of airdrops, Because of this process token value will be high as EOS.
In any blockchain 4 players make key role to run the dapp
BLACK team fully concentrated on all these 4 players and they have created incentive mechanism for all of them. And the concept of crypto factory and reward bank are one of the best practices needed for every chain.
In my next article, I will explain about these 4 players, incentive mechanism, cryptofactory & reward bank, Please wait for part 2 of this post.
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