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EOS MainNet Launch Receives a ‘No-Go’ Vote, Strengthening the Security Concerns About $4 Billion ICO

A Block Producer’s (BP) vote, which was held yesterday for EOS, resulted in an official ‘no-go’ for its MainNet launch, thus pushing back the official MainNet launch by roughly 24 hours.

The EOS MainNet launch, which has been highly anticipated in the cryptocurrency world, has now been delayed further after a BP vote held on June 6th ended in a no-go resolution. At the time of the vote, if BPs do not find any flaws or bugs in the launching process, then the MainNet launch will occur.

David Moss, head of a blockchain consulting company which focuses exclusively on EOS, revealed that the next vote which will take place Today, June 7th, will most likely end in the same no-go resolution.

EOS MainNet Situation

The EOS tokens have been frozen since the start of the month as users anticipated the launch of the EOS network. The EOS MainNet Launch Group (EMLG) was formed to ensure that the launch is both secure and efficient.

Days before the MainNet launch, news filtered around the cryptocurrency space about the critical vulnerabilities which were found in the EOS network by a leading Chinese cyber-security company. EOS was made aware of the flaws and most of them have already been taken care of, according to a tweet by the EOS official handle.

The team, however, didn’t provide enough information about the bugs it has fixed and which ones are still affecting the network. The issues they haven’t resolved is now stopping them from launching their network, with the Chinese cyber-security firm stating earlier that those bugs could delay the release of EOSIO.

Reports have now suggested that the EMLG team has been working non-stop to ensure that the remaining bugs are fixed. The bugs have been labeled for easy identification and according to their significance. They are ranked between P0 to P4, with P0 standing for bugs that compromise a blocker and require urgent fix while P4 are minor and could be taken care of in the future.

In its official statement, the ELMG refused to give any details regarding the remaining bugs that are stopping the network launch, and they didn’t give an estimated time frame for fixing the remaining bugs.

The EMLG team claimed that setting a new launch date “would be irresponsible”, assuring their users that a new update would take place within the next 24 to 48 hours.

These recent events have led to some questioning if a project like this deserves the $4 billion it got in its 1-year long ICO.

Mike Ben

Mike is a cryptocurrency enthusiasts and writer. The cryptocurrency world has become his primary interest, with movies and books, some of his favorite pastime activities. He's an investor in some blockchain projects; VeChain, Stellar Lumen, Gifto, Cardano, Bitcoin and Cindicator. Mike contributes guests posts to BlockPublisher & can be connected over Twitter or email editor.news@blockpublisher.com

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