What are the spheres of application of EON? What is it needed for?

Experts predict a bright future for blockchain technology. It is said that this technology will change many spheres of our life, such as finances, business, governance. EON is a project that has a high chance of becoming the base for such global changes. Read more about some of its applications on the Solutions page.

Is EON the new Ethereum? What are the differences between these projects?

  1. In Ethereum, anyone can create a new token or a smart contract. In EON, only we can create new smart transactions. Besides, the very essence of a smart transactions differs radically from that of a smart contract.
  2. Ethereum is built on different programming languages, but EON uses only Java.
  3. EON targets the financial sector. It offers a well-established product, the ‘processing’ for closed bank blockchains. Whereas Ethereum is an open system that can be helpful in almost any sphere and is being used for a wider range of tasks and applications.

Is this project open source? Where can I view the code?

The project is partially open. The open part is published on Github and covers the most important things for the functionality of the EON network, such as rules of consensus, emission and block confirmation.

The part of the project that deals with the Stock Exchange is classified. All data required by the community in order to find confirmation about the transparency, openness and honesty of the network can be found on Github.

Can I develop an application for EON, like on Ethereum?

Unfortunately, at the moment you can’t. We understand that we need to earn the confidence of the users gradually, if we want to bring the project to a serious level. This is why we decided to put restrictions on third-party development of additional applications (to be more precise, on the adding of new smart transactions).

What are ‘smart transactions’ and how do they work?

The results derived from the execution of a smart transaction are similar to those of an Ethereum smart contract: they allow third-party services to carry through certain algorithms. The main difference is that in Ethereum, anyone can upload any amount of different contracts and ‘make’ Ethereum deal with them. In EON, the system works differently: it has a limited amount of previously uploaded algorithms that form the base for its work. Consequently, the dev team can upload any further algorithms, and EON can elaborate them. For example, such applications as First blood or Iconomi.

Why are you sure that the network won’t be spammed? What security measures have you implemented?

Only the development team can create new smart-transactions. This means that no one will be able to generate empty transactions. We use the delegate system DPOS as a consensus mechanism. This means that the new blocks are more regularly ‘signed’ by those who already have more EON-coins on their wallets. Consequently, you cannot generate a large amount of transactions from empty wallets. This makes such an attack extremely overpriced.

Will there be an ICO? What are the conditions?

Yes, we will raise the first round of investment during the ICO. The community members that support the project at the start will receive the first amount of coins on their wallets.

The detailed information about the ICO will be published on Exscudo.com