EOS launches EOS Alliance, a non-profit governance group to push transparency
EOS has launched ‘EOS Alliance’, a non-profit initiative that aims to bring more transparency to the system, the company stated in a Medium post. Its founding members include Galia Benartzi, co-founder of Bancor, and Akon, the R&B artist.
EOS Alliance’s purpose is to streamline the communication process between different entities that comprise the platform like “token holders, block producers, application creators and other stakeholders.”
The EOS Alliance will operate in English, Korean and Chinese.
The official website states: “Providing the focal point the EOS community needs to express its will”.
The project plans to take donations for funding its activities. The donations will be denominated in EOS tokens, capped at $1 million a year. The reason to do that is to make sure not to hold any executive power.
EOS was developed by block.one, a blockchain-based company based out of Cayman Islands. It was said to compete with Ethereum as people can use the blockchain network to write and run smart contracts and dapps (decentralized applications). The cryptocurrency received $4 billion in investment in a year-long ICO.
EOS’s stand-out feature is that it runs its blockchain on ‘delegated proof of stake’, a consensus system where transaction blocks are verified and processed by 21 elected representatives.
It will set up five working groups that will work on the subjects of dispute resolution, communications, GitHub code management, exchanges, and drafting/adopting its own constitution.
Image via Shutterstock
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