What Is EOS And What's Going On In June?

One of the companies that’s been in the news a lot recently is EOS. They’ve got a lot going on this summer, yet many in the industry are still confused about what the platform is, what they do, and what the difference is between the current EOS token and the one set to release this June by eosDAC. 
 
What’s EOS? 
Calling itself the “most powerful infrastructure for decentralized applications,” EOS is one of the top up and coming platforms to the industry. The system is designed to facilitate the running of what are known as “dApps,” short for “decentralized applications.” For those already not familiar with the dApps, all that means is that applications will be running off of a decentralized infrastructure, rather than being controlled by one entity (just like blockchain technology). Essentially, it means that everyone in the network will help to keep the applications running in a smooth and fair manner. 
 
An easy way to think about it is like a newer version of Ethereum. The Ethereum network aimed to solve many of the issues found in the Bitcoin platform, now EOS is doing the same thing with the Ethereum network. The network is meant to solve many of the earlier issues associated with scaling in the Ethereum network and a variety of problems that comes with it. Besides that, EOS is introducing a new type of consensus protocol as well, delegated proof of stake (DPoS). 
 
EOS in the News: Mainnet Launch 
The biggest reason EOS has been in the news recently is because of an incredibly large platform launch this summer. Previously, the only EOS tokens out there didn’t serve any actual function other than as a means for funding the project. With the launch of the new platform, it’s important for interested investors to know that there are two distinctly different tokens with EOS in the name. 
 
The first type is the EOS token openly trading in the markets now. This first token is an Ethereum-based ERC-20 token that was first launched as part of the EOS initial coin offering (ICO). The ERC-20 token was sold as a way for the team to raise funding for the development of the full platform, set to launch this summer. 
 
The second type is the new eosDAC token. This is not an ERC-20 token running on the Ethereum platform. Instead, this is the new token for the full EOS platform, known as the eosDAC (decentralized autonomous community). While the eosDAC token will be usable on the new platform, the ERC-20 token will not be usable. 
 
With the company moving in the DAC direction this summer (which was always the plan explained in the official whitepaper), investors need to know that the ERC-20 tokens, EOS, will be frozen on June 1st, 2018. This date is important for anyone currently holding EOS tokens. 
 
When the eosDAC mainnet launches officially in June, investors need to make sure they’ve registered their ERC-20 tokens with the eosDAC system. Starting with the launch of the mainnet, the EOS ERC-20 tokens will serve no purpose and will not be able to be moved around. However, the new system is designed to reward those who purchased EOS to fund the platform by going forward with an airdrop for EOS holders with the new tokens, eosDAC. 
 
To learn more about the project timeline, what needs to be done to register your EOS tokens with the new system, and what to expect, investors can check the official site, eosDAC.io.