EOS Blockchain Goes Full Steam

To say it has been a bumpy begin for the EOS blockchain may simply be the understatement of the yr. The voting course of was lengthy and winded, experiencing many surprising delays, nevertheless it’s lastly full. The votes are in, and EOS is formally reside.

EOS Blockchain Voting System

The 21 block producers have lastly been elected, nevertheless it was a sluggish begin to get there. Should you’re unclear about EOS block producers, you possibly can try our break down.

For some time, the voting course of was stalled. 15% of all tokens within the system wanted to be staked to finish the method. That is 150 million tokens complete. Till that occurred, all EOS tokens have been locked from use (apart from to stake for voting). Nobody was in a position to do something on EOS till the voting course of was accomplished.

As of June tenth, solely 10 million tokens had been staked. By June eleventh, 30 million – nonetheless a great distance from the mandatory 150 million. Though many reassured that that focus on may very well be achieved at any second, it appeared a very long time coming.

In the present day, lastly, the mandatory quantity of tokens have been staked, the voting accomplished, and the block producers elected – in the end making EOS reside.

What should be blamed for the holdup? A part of why it might have taken so lengthy to get votes in comes all the way down to the tactic of staking votes. To stake a vote, EOS token holders want to make use of their non-public keys, a sophisticated and dangerous course of that some may not be capable to handle or be prepared to do.

The opposite risk is that a lot of token holders might have been ready to first see who others have been voting for. In the present day, staked votes in a short time jumped from 110 million to 150 million, suggesting that this is perhaps true.

Regardless, EOS is lastly reside – will this be the tip of the issues? Let’s hope so, nevertheless it’s good to maintain one eye open. In any case, persons are nonetheless discovering bugs on the EOS blockchain.

>> EOS Bugs Pay for Themselves: 11 Bugs Found, Nearly $120K Paid

EOS Worth

Presently, EOS is promoting for $11.44, which places the coin up 13.70% prior to now 24 hours.

EOS blockchain
Supply: CoinMarketCap

Regardless of the struggles, it seems to be like EOS is up immediately on the information that it has gone reside.

>> EOS Hackathon Results: The First Competition Ends with a Bang

Featured picture: Steemit

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