EOS Mainnet Block Producers Now Elected – All Systems Go!

EOS Mainnet Block Producers Now Elected - All Systems Go!

Its been a long couple weeks for EOS enthusiasts across the World as we saw the end of the EOS ERC-20 token sale on the 2nd June, then a somewhat tedious few days of waiting for updates from the EOS developer community on whether the Mainnet was ready to ‘GO’ or ‘NO GO’. 

Once the Mainnet was agreed to be set in motion the next step has been to establish who the first 21 Block Producers should be. This process is determined by EOS token holders staking their tokens in a vote for one or multiple Block Producer candidates. It is required that 15% of all tokens must be staked before a consensus is agreed.

Today, the 14th June 2018 we have seen this 15% requirement passed:

And Now?

Well the mainnet is officially running, over the next few days we would expect the Block Producers to be testing the network further to ensure stability and more importantly, security. With so much hype surrounding EOS you can expect the network will be attacked from all angles for vulnerabilities by hackers all around the World. Many have raised concerns over the security of DPOS blockchains, though so far no concern has been justified. Many of these naysayers will claim that DPOS (Delegated-Proof-Of-Stake) has never been proven, but to that statement we can just direct them over to Steemit.com. This was Daniel Larimers project prior to EOS, it has been running since March 2016 and is still running efficiently without issue.

We can expect multiple EOS wallets to begin popping up, though at the moment we recommend only Scatter, its relatively simple to use, looks good and most importantly is appears to be secure. But it is also expected that Ledger will implement an EOS wallet onto their Nano S series relatively quickly.

We can also expect airdrops for EOS holders to begin swarming in, Everipedia have already announced that their airdrop will take place in June following the EOS mainnet launch and their IQ tokens will be given at a 5.1 IQ : 1 EOS ratio. This is just one of many airdrops expected.

If you want to keep an eye on what developments are underway to help progress the EOS ecosystem head over to eosprojects.org.

As for price, well as you’d expect it had a little boost once the 15% consensus was reached and now sits at around $11.40 per token. 

 

2018-06-14T23:03:49+00:00

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