The EOS Mainnet went under a harsh period of two weeks in order to go live, but after achieving the necessary voting percentage, it was finally activated.
According to CCN (citing data from block producer EOS Authority), the blockchain got the 150 million votes (or the 15 percent threshold) needed in order to determine the individuals or entities tasked with maintaining the distributed network.
This comes after a week of testing and deliberation by various EOS launch groups that were competing for one of the 21 validator node spots – or block producers – in which they will verify transactions of the platforms, and claim their respective rewards for that. Throughout the testing phase, several bugs and vulnerabilities were discovered, prompting two of these groups to go head-to-head, correcting and cleaning the code to secure a safe launch. Lastly, on June 9, all groups voted unanimously in favor of launching the blockchain.
Unfortunately, there was one last thing required to go live: a further validation that could only be achieved when users staked 15 percent of the total supply of EOS tokens. This took a little longer than expected due to few users being quick enough to stake their tokens, among other reasons. However, once cryptocurrency exchanges began to stake tokens on behalf of their users, the aforementioned threshold was reached and so, and the launch took place on June 14.
Block.one, a blockchain development startup that owns 10 percent of the 1 billion circulating EOS tokens, dedicated some words of congratulations to the community:
“We are witnesses to history. Never before has a decentralized network of this size and scale been launched in such a short time.”
EOS is a blockchain platform designed for the creation and development of decentralized applications (dapps), offers a large number of features and promises of smart contract technology, in a simple token, developing several dapps with a set of services and easy functions. drive.
EOS performance in the crypto market has been significant, rising around 7.5 percent to $ 10.89 at press time, and currently holding a market cap of $ 9.8 billion, making it the fifth-largest cryptocurrency by this metric.
And like many other similar projects, EOS began its life as an ERC-20 token. Now that is in process of migrating to an independent network, it is expected to keep on outperforming the market.