Published On: Thu, Apr 12th, 2018

EOS Surpasses Litecoin Despite New Criticism of Its ‘Useless’ Token

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Block.One’s Blockchain app platform EOS has come under fire after announcing its incoming mainnet ‘launch’ as its EOS token will have no “uses.”
EOS Tokens Can’t Be Redeemed On EOS’ Nonexistant Platform
The project, which today surpassed Litecoin by market cap and intends to allow developers to create decentralized applications (‘DApps’), raised $700 million in its ongoing ICO despite developers at the time openly acknowledging the token users were buying had zero utility.
Now, with developers confirming a mainnet “release” in June this year, fresh criticism is coming from those who have realized that only software will be released, not an actual platform.
“They’re just releasing the code and there will be *multiple* networks/blockchains you can then hopefully redeem some sort of other token on. It won’t be ‘EOS’ though,” Dogecoin creator Jackson Palmer wrote in a Twitter debate April 11.

People don’t seem to realize that there is no actual EOS “network” that the ERC-20 tokens can be redeemed on. They’re just releasing the code and there will be *multiple* networks/blockchains you can then hopefully redeem some …

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