LONDON (Bywire News) - Every week, the EOS community comes together to share the latest updates in the network. Meetings are available on YouTube, but they can run for several hours. To save you a lot of streaming time, here are the highlights from the latest session.
Eden election
Last Saturday saw the election of the fourth set of chief delegates including an unprecedented third term for perennial chief delegate Chris Barnes. The election was largely successful with 82 opted-in participants. The video, which is available on YouTube, provided a great running commentary on the election.
Every room came to a consensus with no stalls. When you get into these rooms you need a super-majority with two third plus one. If nobody achieves this nobody moves forward. It’s an innovative approach to democracy – one that promotes people good at building consensus – and a whole lot less aggressive than the one we currently use to select presidents and prime ministers. For Chris Barnes, that’s a shame and shows why he believes that this approach could have value way beyond EOS and Eden.
“If all our leaders were selected in a means that identified consensus builders and those were the leaders of the world, you can imagine how peaceful that would be,” he told the group. It’s an interesting thought and one which Eden is increasingly trying to promote.
Funds for this election were distributed on the basis of 15% of the treasury to level one and chief delegates. This will happen monthly with a new election scheduled in 12 weeks. This time around, level one delegates received 493 EOS, while the chief delegates received 2,220 EOS. This may rise or fall depending on the state of Eden’s Treasury.
Chris will be joined by another veteran chief delegate Jesse Jaffe or EOS Bees as well as Chris Waxa, both of whom have a background in marketing. For an ecosystem that is looking to expand its reach, this could be immensely valuable.
Completing the five-team line-up for this year is Rieki Cordon who has extensive experience building decentralised organisations and Xavier Fernandez from EOS Costa Rica. It’s an exciting mix of talents and another advertisement for Eden’s upvote process.
Among the first tasks of these chief delegates will be to approve or decline the proposed set of bylaws laid down by the previous group of chief delegates. Eden rules allow chief delegates to propose new bylaws, but these will not be ratified until after the next election – a move which aims to avoid any group changing rules to suit their own purposes. It’s one more reason why Chris believes this could be a more transparent and trustworthy approach to elections than the one we currently use to elect our leaders.
Token 2049 Conferences
Zack Gall had some thoughts from their adventures at Token 2049 and the ongoing global roadshow of EOS around crypto shows.
More than 7,000 people were at Token 2049, much more than was originally expected. It was the biggest and only second major conference in Asia, so everyone was taking the chance to get out and about at a conference.
EOS had a booth in prime position outside the main stage and had the chance to speak at the event. As with other events, Zack noticed a difference in attitudes to EOS depending on how long people had been in the ecosystem.
There is, he says, a large part of the market that wasn’t around in 2018 so for them, EOS is starting with a clean slate. For those who do remember, and might have negative memories, it was easy to explain the situation. Once EOS gets out to tell its own story, therefore, people are willing to listen, something which bodes very well for the future.
On the Trust EVM stage, they also had an opportunity to present their story through a scalability panel featuring Yves La Rose. It was a chance to show that EOS is pushing the limits of blockchain technology and of hardware.
The excitement of the event also belied the expectations of a bear market. Even with the fiasco of Luna, there were many people who got their money out before and, as such, there is still a significant amount of capital floating around the market.
One concern has been the power needed to run EOS nodes. This can take time and require a computer with considerable power. If you want to catch up with the full history this can take a long time.
In the long term with the Antelope coalition, one of the things they are looking at is provable stake domains which will hopefully alleviate some of these problems. There is however no way to get around the amount of data that has been created, and this is a familiar problem across other blockchains. A solution would come in something that could prove the stake is valid without having to replay the logic locally.
Securing investment from VCs
One of the goals of these events was to secure investment from venture capitalists. Yves says there were some formal commitments as well as others who were more generally interested. For EVM they feel they are one step close to securing the lead investor they have been seeking for some time.
Stablecoin progress
They have been working to try and list EOS USDT. This work has become somewhat more complicated by changes in regulations in China. They are working with a couple of organisations including Binance to look at how they could list and market an EOS Stablecoin.
Hackathon updates
Chris Waxa, freshly minted as a chief delegate was on hand to provide an update about the ongoing ideathon and hackathon. This is a great chance for developers to compete for $75,000 in prize money. They have 409 entrants so far, but they are still waiting for more submissions. October 31st is the deadline for submissions so if you’re looking to get involved time is ticking.
This week they held a tokenomics and gamification workshop, and next week Chris will be hosting a community building and marketing workshop.
It was, then, a packed meeting with plenty of exciting news for the future of EOS. You can check out the full stream of the event now on YouTube.
(Writing by Tom Cropper, editing by Klaudia Fior)