What On Earth Is EOS Classic?

If you’ve not already heard of it, I’m pretty sure you’re going to over the next few days. Someone has created a ‘classic’ version of EOS. Whilst it seems to be quite a complex idea, the premise of EOS Classic is that it is a mineable version of EOS. As we know, EOS was technically a super-long running coin offering until very recently, now, as EOS enters its EOSIO phase, we turn our attention to the new kid in the block, EOS Classic.

Public POW Mainnet of EOS Classic will be launched at June 9, 2018 ( 3:00 AM for UTC time ) Mining will be available after the genesis launch

— EOS Classic (@eosclassicio) June 6, 2018

According to a Twitter page claiming to represent EOS Classic, the EOS Classic MainNet is due to be launched on the 9^th of June 2018, in just three days’ time. So, why is EOS Classic so special? Well, according to Cryptovest:

“What makes EOS Classic different is its reliance on 105 block producers, instead of only 21, as EOS is engineered. This number of producers is close to that of Lisk (LSK), an already operational system using verification. The distribution of EOS Classic assets is somewhat dubious: it is unknown if exchanges would credit the balances, as they have promised to credit the balances for the official EOS blockchain.”

Moreover:

“Additionally, EOS Classic would actually be accessible to the Ethash ASIC miners coming soon. It is unknown if the same entities that wanted to produce blocks for EOS would allocate resources to EOS Classic. There is also no telling when the EOS Classic asset would be traded on exchanges.”

Check out the full report by Cryptovest for yourself, here- https://cryptovest.com/news/eos-classic-is-the-fastest-launch-of-mining-mainnet-set-for-june-9/ So, by the looks of it then, EOS Classic is indeed a mineable version of EOS, within certain parameters at least. It’s a fairly exciting project, however as it stands, we are all a little in the dark about what EOS Classic aims to achieve. Over the next couple of days, pending the EOS Classic MainNet launch, we expect more news to come out which will no doubt fuel a bit of speculation. As this is no doubt the case, we are going to continue to watch EOS Classic and the EOS Classic network whilst we try and get our heads around what all of this means. Overall, it is probably good news but for now, we need to assess some further implications before we can really delve into what the full scale of EOS Classic means for the rest of the crypto-markets.