EOS to be Officially Live Now

EOS raised more than $4 billion during an almost year-long initial coin offering
15 June 2018   710

EOS blockchain is officially live now.

César Rodríguez Twitter
César Rodríguez Twitter

The threshold required for appointing operators which will maintain the functionality of the blockchain was 150 million votes in the evening on Thursday, which allowed to complete the week-long process of launching the network of the fifth largest crypto.

Thus, the software for which Block.one raised more than $ 4 billion via ICO, which lasted almost a year, was presented to users. 

This happened after a week of evaluation and testing of the network by candidates for the role of block producers from all parts of the world. Although several critical vulnerabilities were identified during this phase, due to which the launch date was postponed, on June 9, the candidates gave green light.

According to the project plan, two thirds plus one candidate had to vote for the launch of the network in order to initiate a further process, during which additional validation was carried out, block producers were appointed and holders of 15% EOS tokens were approved.

As soon as these 15% were collected, 21 block producers were approved and the chain was launched. The process took more time than many expected, which is explained, among other things, by security considerations.

EOS to Become Transaction Volume Leader

EOS transaction volume to exceed Bitcoin's, Ethereum's and even Tron's
15 January 2019   242

According to the Coinmetrics analytical resource, EOS has become the absolute leader in terms of transaction volume.

Tron blockchain activity is approx twice lower than EOS. The volume of Ethereum transactions is about 11 times smaller than that of EOS. Also note that XRP is slightly higher than bitcoin in this parameter.

CoinDesk analyst Peter Ryan emphasizes that transactional activity in smart contract platforms is usually much higher than that of cryptocurrencies, which mainly function as a means of preserving value.