Parts of the EOS community has finally achieved the majority needed in order to take the decision to launch the blockchain. This marks a major step for blockchain democracy and decision-making in general, and for EOS in particular. As the EOS blockchain goes live, it will lead to a host of new possibilities and opportunities for EOS to continue to evolve and gain more widespread adoption.
EOS recently concluded its long-running ICO, which is to have raised a whopping $4 billion during its nearly year-long sale. Moreover, this decision comes a week after Block.One also released the EOSIO blockchain protocol software to the public. However, the EOS launch has hinged on a voting system where presumptive “block producers” (essentially EOS’ version of miners) have been called to a vote over whether or not the blockchain should be launched. Although a majority has supported the decision, this majority has not previously been significant enough for the “Go” decision to be implemented.
A group of organizations intending to become block producers has banded together in anticipation of the decision to launch the mainnet, calling themselves the EOS Mainnet Launch Group (EMLG). This group has previously been able to come to a number of different decisions, of which the most notable is undoubtedly today’s launch of EOS. This latest voting session was attended by over 100 different candidate organizations and was watched by approximately 1800 people. Although the exact result of the vote was not shared, it is reported that the decision to launch the mainnet was nearly unanimous.
What is to follow now is to be dictated by an EOS mainnet launch order of events. The network is to be initiated by a number of designated block producers, and these will conduct a significant amount of “additional testing” during a period of 48 hours. If no major bugs or problems are encountered during this testing period, the EOS mainnet will then go live as soon as the first batch of elected block producers have been decided on, as well as when 15% of the outstanding tokens have been staked to voters. However, there is bound to surface a series of further issues that become evident once the EOS mainnet properly launches. Nevertheless, if the EOS launch is anything to go by, it would seem that the EOS community is quite capable to handle any new issues.
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Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the cryptocurrency industry by night. Rasmus holds a Bachelor’s Degree in Marketing from the Gothenburg School of Business, Economics, and Law and runs a Swedish marketing consulting firm. Moreover, when he isn’t writing for Toshi Times, traveling, working or changing the world in some other capacity, Rasmus is more than likely caught up in postgraduate studies.