The much anticipated EOS blockchain will finally be launched after it was given a nod of approval by the Block Producers. The MainNet launch, which started since the 2nd of June, hasn’t gone live yet due to security issues that the Block Producers believe the network has to solve before they allow the network to give.
The network received a huge boost a few hours ago after the Block producer’s finally gave their approval.
EOS is a PoS blockchain, founded by Block.one, with Dan Larimer, the co-founder of the network, also known for creating other systems like Bitshares and Steem. The company conducted an ICO that lasted a year and saw it raise a record $4 billion during that process.
The company turned its network codes to developers all over the world to help check the network for bugs, the group called Block Producers were located all over the world and formed a group known as the EOS MainNet Launch Group (EMLG). The group had previously rejected the notion of the network going live due to some serious security issues found on the network. However, they have now agreed on a number of things, including the launch of the EOS MainNet.
The votes started around 1:00 UTC Saturday and lasted less than an hour, with over 1800 people watching as the votes were gathered. The votes which were categorized into Go/ No Go was nearly unanimous as most of the Block Producers agree on the launch. The voting process was streamed on YouTube.
With this vote, the EOS network will now be launched, with the working group already designated. The initial network would go live around 13:00 UTC. After the initial launch, additional validation of the network would take place before the network is fully launched.
EOS MainNet launch order of events revealed that after the initial network has been launched, the block producers will use the next 48 hours for additional validation of the network. If no major bugs are found on the network, then EOS holders will be called to vote for a set of block producers.
A lot of the EOS block producers have spent a lot of time and resources working on the network, with the EOS network expected to provide stiff competition to the leading dApp and smart contracts network, Ethereum.