Concerns Arise as EOS Network Freezes Within Two Days of Activation
- The mainnet was launched without the launch of any public testnet.
Without any doubt, EOS is a huge and promising Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term project. However, the shortcomings of the network have raised questions in the community.
After almost a week-long voting process for the activation of the EOS Mainnet Mainnet A mainnnet is a term to describe the primary blockchain network that a cryptocurrency project will operate. The mainnet reflects the final product or stage of a cryptocurrency project that can be accessed and used by the general public. This means that cryptocurrency transactions are being broadcasted, verified, and recorded on blockchain.In contrast to mainnet networks exists testnets, which describe the state during which a blockchain protocol or network is not yet up and running on its full c A mainnnet is a term to describe the primary blockchain network that a cryptocurrency project will operate. The mainnet reflects the final product or stage of a cryptocurrency project that can be accessed and used by the general public. This means that cryptocurrency transactions are being broadcasted, verified, and recorded on blockchain.In contrast to mainnet networks exists testnets, which describe the state during which a blockchain protocol or network is not yet up and running on its full c Read this Term, the network froze within the first 48 hours due to a bug.
Looks like the EOS network managed to stay up for a whole day before running into a showstopper bug that froze the chain. https://t.co/bG9EuIBYBe
— Jameson Lopp (@lopp) June 16, 2018
Though the issues were fixed within hours, a 5-hour pause in the network was not something the team would have anticipated.
EOS is a well-funded project, and with a year-long ICO, it raised $4 billion. But the issues in the network are attracting a lot of critics, many well-reputed in the industry. Jackson Palmer, the creator of Dogecoin, pointed out that the situation of the network is “making it hard not to be critical.”
https://twitter.com/ummjackson/status/1008034252200407040?ref_src=twsrc%5Etfw&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Feos-blockchain-back-up-and-running-again-after-yesterday-s-pause
The project was already facing backlash due to the complicated voting process and the lack of interest in the community to vote for the mainnet activation. To gain 15 percent tokens’ vote, it took around six days, which went up to 21.9 percent till press time.
Security is an issue
Moreover, days before the mainnet launch, well-known Chinese security company Qihoo 360 pointed out some serious security vulnerabilities on the EOS platform. Though at that time, it was predicted that this might delay the mainnet launch, the EOS team was responsive enough to come up with a solution to tackle the vulnerabilities without affecting the launch date.
Cryptovest quoted EOS’s CEO Yo Sub Kwon: “The most important focus for investors and developers should be around the security of the currency itself. If that were able to be manipulated or damaged that would have grave financial consequences for Block.one and the entire EOS community leading to a fall in confidence and support.”
Without any doubt, EOS is a huge and promising Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term project. However, the shortcomings of the network have raised questions in the community.
After almost a week-long voting process for the activation of the EOS Mainnet Mainnet A mainnnet is a term to describe the primary blockchain network that a cryptocurrency project will operate. The mainnet reflects the final product or stage of a cryptocurrency project that can be accessed and used by the general public. This means that cryptocurrency transactions are being broadcasted, verified, and recorded on blockchain.In contrast to mainnet networks exists testnets, which describe the state during which a blockchain protocol or network is not yet up and running on its full c A mainnnet is a term to describe the primary blockchain network that a cryptocurrency project will operate. The mainnet reflects the final product or stage of a cryptocurrency project that can be accessed and used by the general public. This means that cryptocurrency transactions are being broadcasted, verified, and recorded on blockchain.In contrast to mainnet networks exists testnets, which describe the state during which a blockchain protocol or network is not yet up and running on its full c Read this Term, the network froze within the first 48 hours due to a bug.
Looks like the EOS network managed to stay up for a whole day before running into a showstopper bug that froze the chain. https://t.co/bG9EuIBYBe
— Jameson Lopp (@lopp) June 16, 2018
Though the issues were fixed within hours, a 5-hour pause in the network was not something the team would have anticipated.
EOS is a well-funded project, and with a year-long ICO, it raised $4 billion. But the issues in the network are attracting a lot of critics, many well-reputed in the industry. Jackson Palmer, the creator of Dogecoin, pointed out that the situation of the network is “making it hard not to be critical.”
https://twitter.com/ummjackson/status/1008034252200407040?ref_src=twsrc%5Etfw&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Feos-blockchain-back-up-and-running-again-after-yesterday-s-pause
The project was already facing backlash due to the complicated voting process and the lack of interest in the community to vote for the mainnet activation. To gain 15 percent tokens’ vote, it took around six days, which went up to 21.9 percent till press time.
Security is an issue
Moreover, days before the mainnet launch, well-known Chinese security company Qihoo 360 pointed out some serious security vulnerabilities on the EOS platform. Though at that time, it was predicted that this might delay the mainnet launch, the EOS team was responsive enough to come up with a solution to tackle the vulnerabilities without affecting the launch date.
Cryptovest quoted EOS’s CEO Yo Sub Kwon: “The most important focus for investors and developers should be around the security of the currency itself. If that were able to be manipulated or damaged that would have grave financial consequences for Block.one and the entire EOS community leading to a fall in confidence and support.”