eosBLACK provides the use of Smart Contracts on a permissioned blockchain platform. Permissioned blockchain allows stakeholders to vote for development or rejection of DApps. Once a certain DApp has been approved, it will receive funding through the Crypto Factory and the tokens will be airdropped back to the eosBLACK token holders.
eosBLACK is a fork chain (sister chain) of EOS, comparable to Worbli, Telos and Evolution. The difference between eosBLACK and other EOS-based blockchains is that eosBLACK will have an on-chain governance open democracy system unique to eosBLACK with the goal to overcome the limitations of indirect democracy inherent to the DPoS governance model.
The team is planning on launching its mainnet in Q4 2019.
eosBLACK governance
The DApps being launched on the BLACK blockchain will be selected by using a decentralized autonomous community (DAC). The decentralized applications (DApps) developed on the eosBLACK blockchain don’t (and can’t) go through the process of an ICO.
All the required funds will be provided in a systematic way, so that DApp developers don’t need to worry about their finances. The DApps on the eosBLACK blockchain need to be accepted first and the decision to approve a certain DApp is made by the token holders. Any stakeholder can join the selection process through on-chain governance.
Crypto Factory
The team behind the eosBLACK blockchain aims at improving the ICO funding method that became popular in 2017. Investors have since then become more sceptical of ICOs, therefore eosBLACK proposes an alternative called “Crypto Factory”. Through the latter, eosBLACK could eliminate the ICO process by financing the development of blockchain projects using inflation of its own coins complemented by income generated from operating its own decentralized exchange (DEX).
By operating a development fund, the necessary funds for the operation of the Crypto Factory will be secured and rewards will be paid out to stakeholders who would participate in the development, according to their level of contribution.
