The launch of the EOS blockchain has been a giant experiment in remote self-organization.
Tonight, it took a huge leap forward. As anticipated, candidates for the function of validators or “block producers” (EOS’s equivalent of bitcoin miners) situated all over the world voted “Go” to take the mainnet live.
EOS is a distributed proof-of-stake blockchain developed by Block.One, whose co-founder, Dan Larimer, has pioneered comparable systems with BitShares and Steem. The organization raised $4 billion to develop the open source computer software more than a year-extended initial coin providing.
No one actually knew what would come about when the organization turned its code over to the planet, but with this vote it really is coming far more clear.
As the software approached release, a group of organizations vying to serve as block producers located each other and formed the EOS Mainnet Launch Group (EMLG). They have so far managed to agree on a number of issues, most importantly that they would launch one mainnet for EOS.
Effectively more than 100 candidate organizations participated in a contact that started gathering at 1:00 UTC Saturday and the vote occurred roughly 45 minutes later, as more than 1800 individuals watched. The vote to “Go / No Go” was unanimous or extremely nearly so the moderators did not report out a final count. The meeting was streamed on YouTube by EOS GO.
With this vote, a set of appointed block producers will move to take the network live. These groups have currently been designated. This initial network need to be stood up at 13:00 UTC, according to a strategy presented for the duration of the stream. From there, additional validation will be necessary just before it takes the final actions to launch.
According to the EOS Mainnet Launch order of events, initiation of the network by appointed block producers will be followed by at least 48 hours of further testing. Barring significant bugs, EOS holders will then be invited to vote for a set of block producers.
EOS goes reside after 15 percent of tokens outstanding have been staked to votes and the 1st set of elected block producers have been established.
As we previously reported, there is nonetheless a lot of concerns to watch after that occurs.
A lot of of these block producer candidates have place in a lot of time, funds and perform up to now. Will the ones who never secure a coveted validator spot honor their promises or will they move to launch a rival version EOS?
SpaceX Hispasat 30W-six Launch photo is public domain.
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Published at Sat, 09 Jun 2018 01:59:51 +0000