After prolonged uncertainty, the embattled blockchain platform is now active and ready to use.
After months of testing and voting, one of the most anticipated blockchain launches of the year went live at 6 p.m. UTC on June 14.
The blockchain platform some have dubbed the “Ethereum Killer” is intended to help improve blockchain scalability and prevent forking by allowing block producers to work together to complete blocks, instead of competing to be the first to verify each block.
For the project to become active, a minimum of 150 million tokens, fifteen percent of the total, had to be staked in a vote to elect the block producers. According to the EOS timeline, after all votes are cast:
“The chain is considered valid and normal functions are activated. … All Appointed Block Producers (ABPs) will be immediately replaced by the Elected Block Producers (BPs) that have been voted in by the community upon activation.”
The EOS blockchain project was technically launched on June 9, but was stalled because the company was unable to choose appropriate block producers. There was some disagreement over whether the software should be launched at all.
Nathan Graham is a full-time staff writer for ETHNews. He lives in Sparks, Nevada, with his wife, Beth, and dog, Kyia. Nathan has a passion for new technology, grant writing, and short stories. He spends his time rafting the American River, playing video games, and writing.
Like what you read? Follow us on X @Bitnewsbot to receive the latest EOS, blockchain or other Ethereum ecosystem news.
Previous Articles:
- ‘Pink’ Crypto Could Be the First in a Rainbow of Currencies
- SEC Director Believes Ether (Today) Is Not A Security
- Building Fixed-Income Bonds on the Blockchain
- VA Looks To Blockchain To Streamline Contract Process
- Tezos To Require KYC/AML Personal Identity Checks
