What is BEOS?

BEOS is a new privately funded blockchain, a straight clone of EOS intended to serve as a middle chain between BitShares and the EOS main chain. Its goals are token portability and jurisdictional agility. It does these functions without requiring any modifications to or cooperation from either BitShares or EOS communities, neither of which are involved in its development. BEOS tokens serve the same functions as the EOS token on the EOS main chain - giving holders voting and access privileges to network resources.

Token portability means that all BTS and EOS tokens can move between these systems transparently, increasing the utility of the BitShares smart coin factory and access to EOS smart contract technology.

Jurisdictional agility, including Sovereign Sky's nodes in space, are the key innovation and reason why BEOS will be favored by industrial users, enabling them to ensure compliance in the jurisdictions in which they choose to transact.

Reliable governance. The BEOS blockchain will be governed by a board of five trustees in a non-profit Utah based BEOS Limited Cooperative Association (BLCA).Trustees serve staggered 5 year terms to ensure stability of operations for businesses wishing to build on BEOS without fear of perturbations from stakeholder voting that might change the terms of service precipitously. Stakeholders do vote for block signers, preserving the decentralized nature essential for blockchain integrity.

This is not an ICO

Terradacs has already paid for development of BEOS and is not selling anything to raise money. Instead, we are authorizing a non-profit organization, the BEOS Limited Cooperative Association (“BLCA”), to launch the chain and give the access tokens away for free, as a public service. Tokens will be given to a Targeted Demographic of people who have demonstrated strong loyalty to BitShares in the past. This includes people who still hold BTS and are actively interested in using the BEOS chain. It also includes people who Dan Larimer once awarded "Brownie Points" (BROWNIE.PTS) in an expression of appreciation for contributions above and beyond the norm in support of BitShares development. Finally, they will be worth something!

The goal is to seed these positive users with all the tokens and cultivate a strong set of active supporters to do the voting. Those who are unwilling to try out the system with some of their BTS, or who are no longer paying attention to BitShares events, or who are perennial skeptics and nay-sayers will forfeit their offered free tokens to those more worthy of them - BLCA is, in this way, using natural selection for strong HODLing supporters who are unlikely to dump their tokens.

There will be a fixed supply of 2.6 billion tokens distributed over time, all of them in the first 89 days beginning 1 week after the launch. Another 1 billion will be given as the Reserve Endowment Fund to the BCLA to manage for the benefit of the ecosystem over time.