April 24, 2024

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[THE INVESTOR] A new blockchain-based platform for developers, called eosBLACK, has recently been unveiled through Koreos, one of Korea’s largest EOS communities.

The platform aims to create a more transparent working and rewarding platform for decentralized applications, or DApp, developers and their supporters. The developer Crypto Future believes its decentralized funding platform could become an alternative to initial coin offerings amid regulatory and cost hurdles.

“We aim to overcome the current hurdles for developers like the high development costs, regulatory hurdles and a lack of overall awareness toward the coin economy,” the firm said.

Under the system, coin holders vote to elect their representatives who will evaluate DApp projects they want to invest in and selected developers get funds to launch their DApp. All the members share the profits based on their token deposits and activity rankings.

Unlike other EOS platforms, the esoBLACK doesn’t charge developers any fees. Without launching an ICO, they can reduce initial development costs, while getting technological and manpower support directly from Crypto Factory, a collaboration platform that is operated jointly by all participating members.

“We will create a brand new blockchain platform that better incentivizes DApp developers and their supporters. We will continue to extend partnership with IT companies and other potential partners,” the firm said.

Crypto Future plans to list the eosBLACK coin on crypto exchanges by the third quarter this year. Following its test launch early next year, the platform’s official debut is expected to come at the end of the year.

The firm said it will attract more users through token airdrop rewards. A combined 900 million coins, about 30 percent of the total 3 billion, will be distributed to EOS holders for free of charge. An airdrop event is also planned on July 20.

By Lee Ji-yoon (jylee@heraldcorp.com)