Vote Threshold Is Met: EOS Can Finally Launch Its Platform

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Based on data from the EOS Authority, EOS has finally acquired the minimum voice required for its network to proceed. Once EOS failed to launch its own stage on its own projected launch date of June 2, a live stream vote was called, in which consumers voted Go, to launch the blockchain network. However, whilst the network received a green light, it couldn’t go live until it was triggered with EOS tokens, owned by investors. Things did not go as planned as token owners became reluctant to contemplate with the minimum vote needed to activate the blockchain. For the EOS blockchain to go live, 15 percent of the total EOS tokens in supply had to be utilized to select 21 EOS network block makers.

VotesAlso known as supernodes, block producers operate as part of EOS’s delegated evidence of stake, in which they serve a function comparable to Bitcoin miners that secure proof-of work systems. The candidates for the supernodes include local crypto enthusiasts like EOS Canada, who’s currently leading with only over 42, 000,00 token votes at press time, followed by EOS Authority, the thing that started up EOS, at second place with about 39, 400, 000 votes. Blockchain heavyweight Bitfinex is now 8th with a little under 32, 000,000 EOS vote, and EOS HuobiPool is at the eleventh place with only over 30 million token votes.

To vote for the supernodes, token owners must go through a process of proving ownership, which requires using their personal keys. The most noteworthy voting software is CLEOS, a command line tool created by Block.one, the creators of EOS. This program needs a lot of programming knowledge, which leaves no technical executives with crowdfunded jobs like EOS Portal along with other desktop tools. Just as much as consumers were excited to activate the mainnet, they have been equally worried that the process might endanger their holdings. EOS’s inability to obtain the required number of tokens staked led to the mainnet launch being stalled for days.

There were also some reports that a general, widespread distrust in 3rd party software available to owners, combined with the intricacy voting process, led to the fact that the voter apathy. VulnerabilitiesDespite the success of its ICO, the EOS group has been able to locate a lasting solution to the vulnerabilities that have riddled it from the start. Several weeks back, Chinese online research firm Qihoo 360 discovered a vulnerability that may be utilized by hackers to remotely handle codes on the nodes and attacks any cryptocurrency constructed on the network. EOS established a bug bounty program that rewards developers for detecting security vulnerabilities, with the most significant reward goes to the Dutch ethical hacker Guido Vranken, who had been paid a hefty $120, 000 for detecting 11 brand new vulnerabilities. EOS’s HackerOne profile shows that vulnerabilities are still being uncovered. EOS is now up by 14.4%, trading at $11.32.

Sources:
bitcoinmagazine.com
EOS Authority
live-stream
leading
proving
CLEOS
widespread
Qihoo 360
bug bounty program
$120,000
HackerOne
$11.32

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