Although the long-anticipated EOS blockchain technically took off on June 10, it was not operational, and its tokens were 'frozen' for almost five days.
In order to kick off, the EOS community had to elect 21 entities responsible for the blockchain's operations by a similarly designed vote, and it didn't go smoothly.
Delegated proof of stake: a not-so-decentralized mechanics of EOS. EOS is heralded by its creators as a platform for the deployment of Decentralized Autonomous Organizations and Corporations on an industrial scale.
Its main selling point is meant to be the capacity to handle many more transactions per unit of time than the Ethereum blockchain, which EOS seeks to supersede.
The EOS mainnet relies on 21 groups called Block Producers, or supernodes, who are elected by the votes of token holders, cast in proportion to their token holdings.
Ultimately, the pool of 21 elected Block Producers now looks like this, topped by EOS Cannon, Liquid EOS and EOS Beijing.
The arduous election was far from the only speed bump on the way to the EOS mainnet launch.
Just a few days prior to that, a Chinese cybersecurity firm found a series of massive flaws in the EOS system, pointing to loopholes that could allow attackers to take full control over any network node.
Messy the path to the EOS launch has been, it finally happened on June 14, seeing the token price recover from recent blows.
Just two days after the launch, the EOS mainnet underwent a 'freeze' and effectively stopped processing transactions.
Email Scams, Patched Loopholes, and Backroom Politicking: EOS Mainnet's Road to Launch
Publicado en Jun 18, 2018
by Cointele | Publicado en Coinage
Coinage
Mencionado en este artÃculo
Noticias recientes
Ver todo
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.