EOS’s MainNet Launch Will Show if Huge Expectations Were Justified

The EOS token swap is set to launch in less than 48 hours and traders who fail to register will have to wait for some remedy actions from the development team. The EOS development team has been sending out constant reminders for users to complete the process, stating that;

The Exodus wallet has revealed that it wouldn’t be a source for getting the new tokens. Exchanges have now being left as the only platforms that would enable users to instantly credit the new balances.

The EOS price has been stable at the $12.34 mark over the past few hours, representing an increase of 14% over the past week and 3.26% up for the day. Since the start of the month, EOS has been slipping both against the US Dollars and against industry leader, Bitcoin.

Even though the cryptocurrency market has been experiencing a decrease in trading volumes, EOS trading takes up 7.6% of the total market demand, with its soon-to-be competitor, Ethereum retaining more than 12% of the trades. EOS has led the others over the past few months due to its visionary project, but it has still faced criticism, with some traders and analysts of the view that the price rise was a concerted operation.

Block.one has completed the year-long ICO, which is now the longest and biggest in the history of the ICO industry, but the project’s success is still being criticized by others:

The biggest criticism the project has faced is the claims that its daily auctions were a tool for EOS price manipulation, which somehow encourages a form of betting against its market price.

But the biggest criticism comes from perceptions that the daily auctions were a mechanism for EOS price manipulation, also encouraging a form of betting against the market price.

After the mainnet has been completed, holders of the token would have the chance to vote for node producers. The election is taking place without any set date and will depend on staking coins. EOS launched wealth-based voting, which gives more advantage to the large coin holders. This, unfortunately, isn’t easy for the regular users as the voting process might require command line prompts.

Thomas Cox, VP of Product at Block.one, recently talked about the politics of EOS approval voting, which will give more weight to larger wallets. He explained that even though it may be good, the EOS network will most likely fall into the hands of a few wealthy holders.

Nicholas Holden

A chemical engineer who got obsessed with cryptocurrecnies. Holds small fortune in BTC, PVX and MIOTA. Nick's regular trading in the crypto space makes him come across exclusive news around the industry. Email: nick@blockpublisher.com or email the editor at editor.news@blockpublisher.com

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