EOS is Crawling Towards Mainnet Activation
- With 10 percent of EOS holders, the voting process has gained a little pace in the recent hours.

EOS opted for a year-long token distribution process, and now its holders are making sure that the project has one of the most stressed mainnet implementations.
On June 10th, Block.one launched 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 capacity. A testnet is used by programmers and developers to test and troubleshoot all aspects and features of a blockchain network before they are sure the system is secure and ready for the mainnet launch.How ICOs Help Sculpt the MainnetPrior to the mainnet of a blockchain is launched, project’s team will install an Initial Coin Offering (ICO), Initial Exchange Offering (IEO), or other strategies to help levy funds and grow community support. Traditionally, collected funds injected into the project in a bid to develop the prototypes of the blockchain network that are then tested during the testnet phase. Migration onto the mainnet from the testnet is an act that must be undertaken with great care. Errors in this process can result in a partial or complete loss of funds from the network.The eventual mainnet launch is a key milestone in a cryptocurrency’s lifecycle. The launch of the mainnet signifies the moment that a cryptocurrency network is ready to begin acting as a system of value transmission, and has the potential to grow its adoption.Some of the most significant mainnet launches that occurred in 2018 include the Tron network and the EOS network. 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 capacity. A testnet is used by programmers and developers to test and troubleshoot all aspects and features of a blockchain network before they are sure the system is secure and ready for the mainnet launch.How ICOs Help Sculpt the MainnetPrior to the mainnet of a blockchain is launched, project’s team will install an Initial Coin Offering (ICO), Initial Exchange Offering (IEO), or other strategies to help levy funds and grow community support. Traditionally, collected funds injected into the project in a bid to develop the prototypes of the blockchain network that are then tested during the testnet phase. Migration onto the mainnet from the testnet is an act that must be undertaken with great care. Errors in this process can result in a partial or complete loss of funds from the network.The eventual mainnet launch is a key milestone in a cryptocurrency’s lifecycle. The launch of the mainnet signifies the moment that a cryptocurrency network is ready to begin acting as a system of value transmission, and has the potential to grow its adoption.Some of the most significant mainnet launches that occurred in 2018 include the Tron network and the EOS network. Read this Term, more than a week after releasing version 1.0 of the EOSIO software. However, to activate the platform, at least 15 percent EOS token holders are needed to elect the network’s 21 “block producers” by voting.
This voting process turned out to be the biggest roadblock for the project as, even after five days, only 10 percent of the token holders had cast their vote. The project still needs approval from around the holders of 50 million more tokens.
Transparency is good
The opaque process and concern of exposing the private key are the reasons for the sluggish voting response from the community. However, the tables are turning fast as in the recent hours more and more token holders are turning to vote from the network activation.
The token holders can vote as many numbers of times as they want. However, a maximum number of 30 “block producers” can be voted at a time. The network will only conder a voter's latest vote.
It is to be noted that Block.one itself holds a majority of EOS tokens; however, based on the voters’ turn out, it is clear that the firm is not participating in the process.
Bad market
Meanwhile, EOS token suffering from a tough time in the market due to the recent dip. However, it maintained its position among the top five coins with a market cap of $9.3 billion. Moreover, positive traits can be seen in the coin’s performance as it gained more than 7 percent in last 24 hours, trading at $10.50.
EOS opted for a year-long token distribution process, and now its holders are making sure that the project has one of the most stressed mainnet implementations.
On June 10th, Block.one launched 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 capacity. A testnet is used by programmers and developers to test and troubleshoot all aspects and features of a blockchain network before they are sure the system is secure and ready for the mainnet launch.How ICOs Help Sculpt the MainnetPrior to the mainnet of a blockchain is launched, project’s team will install an Initial Coin Offering (ICO), Initial Exchange Offering (IEO), or other strategies to help levy funds and grow community support. Traditionally, collected funds injected into the project in a bid to develop the prototypes of the blockchain network that are then tested during the testnet phase. Migration onto the mainnet from the testnet is an act that must be undertaken with great care. Errors in this process can result in a partial or complete loss of funds from the network.The eventual mainnet launch is a key milestone in a cryptocurrency’s lifecycle. The launch of the mainnet signifies the moment that a cryptocurrency network is ready to begin acting as a system of value transmission, and has the potential to grow its adoption.Some of the most significant mainnet launches that occurred in 2018 include the Tron network and the EOS network. 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 capacity. A testnet is used by programmers and developers to test and troubleshoot all aspects and features of a blockchain network before they are sure the system is secure and ready for the mainnet launch.How ICOs Help Sculpt the MainnetPrior to the mainnet of a blockchain is launched, project’s team will install an Initial Coin Offering (ICO), Initial Exchange Offering (IEO), or other strategies to help levy funds and grow community support. Traditionally, collected funds injected into the project in a bid to develop the prototypes of the blockchain network that are then tested during the testnet phase. Migration onto the mainnet from the testnet is an act that must be undertaken with great care. Errors in this process can result in a partial or complete loss of funds from the network.The eventual mainnet launch is a key milestone in a cryptocurrency’s lifecycle. The launch of the mainnet signifies the moment that a cryptocurrency network is ready to begin acting as a system of value transmission, and has the potential to grow its adoption.Some of the most significant mainnet launches that occurred in 2018 include the Tron network and the EOS network. Read this Term, more than a week after releasing version 1.0 of the EOSIO software. However, to activate the platform, at least 15 percent EOS token holders are needed to elect the network’s 21 “block producers” by voting.
This voting process turned out to be the biggest roadblock for the project as, even after five days, only 10 percent of the token holders had cast their vote. The project still needs approval from around the holders of 50 million more tokens.
Transparency is good
The opaque process and concern of exposing the private key are the reasons for the sluggish voting response from the community. However, the tables are turning fast as in the recent hours more and more token holders are turning to vote from the network activation.
The token holders can vote as many numbers of times as they want. However, a maximum number of 30 “block producers” can be voted at a time. The network will only conder a voter's latest vote.
It is to be noted that Block.one itself holds a majority of EOS tokens; however, based on the voters’ turn out, it is clear that the firm is not participating in the process.
Bad market
Meanwhile, EOS token suffering from a tough time in the market due to the recent dip. However, it maintained its position among the top five coins with a market cap of $9.3 billion. Moreover, positive traits can be seen in the coin’s performance as it gained more than 7 percent in last 24 hours, trading at $10.50.