EOS blockchain is now officially live
EOS blockchain is fully active and online after repeated delays, series of trials and bug hunting the. They received over the needed votes making it go live.
The MainNet launch took place on Saturday at 1:00 UTC, over 100 candidates gathered and participated in the vote while around 1800 people watched. The meeting was streamed on YouTube by EOS GO, Coin Desk reported. 15 percent of token holders needed to vote to establish the 21 elected block producers, the chain became active. However, it took much longer than expected for various reasons such as security concerns users had with the voting process.
Well, now that it’s live EOS – the new proof-of-stake blockchain developers need to deliver what they promised. They aim to be faster and more efficient than Ethereum. They also promised to enable millions of transactions per second, attracting large-scale enterprises to build on their platform.
EOS, like Ethereum will be hosting blockchain-based smart contracts and decentralized applications (DApps). Developers can now launch their projects now since the blockchain is now officially active. The website EOSIndex presents over 140 DApps in active development. On the other hand, Ethereum currently has more than 1,600 DApps up and running.
Security vulnerabilities have been of concern from the time it first delayed its initial launch of the blockchain. It was when a Chinese security firm revealed that they discovered that a series of “epic vulnerabilities” in the EOS platform. Later, the chief technology officer claimed that most of the bugs have been already addressed and resolved. Despite that, developers and the block producers wanted to ensure safety before moving ahead. Following the launch, tokens were trading at $10.45. Block.one raised over $4 billion during an almost year-long initial coin offering (ICO) will now be accessible. The blockchain reportedly began its operations at 17:46 UTC.
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