EOS Mainnet Launch Hits a Snag as Too Few Users Stake Their Tokens

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EOS Mainnet Launch Hits a Snag as Too Few Users Stake Their Tokens

EOS Mainnet Launch Hits a Snag as Too Few Users Stake Their Tokens


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The EOS mainnet launch has stalled, as fewer than one-third of the tokens required to activate the platform have been staked by their homeowners.

The mainnet technically launched on June 10 — greater than a week after Block.one launched model 1.zero of the EOSIO software program — however the platform can’t be totally activated till 150 million EOS tokens — 15 p.c of the full token provide — vote to elect the community’s 21 “block producers,” who will kind of fulfill the position that miners play in Proof-of-Work (PoW) networks like Bitcoin.

According to knowledge from block producer candidate EOS Authority, simply four.eight p.c of tokens — or 32 p.c of the required tokens — had voted as of the time of writing, and nobody is aware of when the opposite ~102 million will likely be staked.

eos
Source: EOS Authority

The reluctance to vote could also be as a result of the truth that the method is considerably difficult and customers could understandably be involved about by accident exposing their personal keys. The tempo of voting appears to have ticked up over the previous 24 hours, however, nonetheless, customers — and their tokens — proceed to stay in limbo as they watch for others to stake their balances.

It’s doubtless that block producer candidates themselves management sufficient tokens to activate the community, however — stemming from the truth that Block.one just isn’t taking part within the mainnet launch — there have reportedly been heated tensions between the varied teams jockeying to win one among these unique spots within the community.

For instance, the primary block producer randomly chosen to confirm transactions will likely be required to buy roughly $260,000 price of random entry reminiscence (RAM), and there was a lot debate about whether or not and the way that group ought to be compensated for the in-network buy. One controversial proposal would see builders use “god mode” to primarily print out of skinny air the estimated 19,000 EOS tokens wanted to pay for the RAM.

Meanwhile, the EOS value has skilled a vital decline in opposition to each bitcoin (BTC) and ether (ETH) since June 10, suggesting that buyers — lots of whom contributed to the token sale practically one 12 months in the past — are disgruntled that the platform has nonetheless but to go reside.

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