What to know about the EOS Mainnet Launch

EOS Mainnet Launch

The hottest topic right now is the EOS mainnet launch.  EOS has been in ICO for a year!  They have raised over $4 billion in capital during that ICO.  Their market cap is about $13.7 billion.  They are priced at just under $15 and has more volume than Ethereum.

EOS mainnet launch happened on June 2nd.  Block.one will be in charge of the development.  After that Block.one will go away and EOS will run on its own.  Many think that the price of EOS will jump during this time, however, in most cases, the prices of cryptocurrencies during the launch usually go down a little bit.

Expect a lot of bugs and issues because this is a totally new technology.  Steamless mainnet launches are rare and the scope of EOS makes it more than likely that there will be issues.  Because EOS will be public the price should go down as all these bugs and issues get talked about.

“What we’re going to do is lauch the mainnet together as a group, but we’re going to freeze it so that no token transfers can happen yet” Dafeng Guo, co-founder at EOS Asia.

Tokens will be Frozen

During the launch of the mainnet no token transfers can happen yet.  Once you register your Ethereum wallet address with EOS.  Those that haven’t registered do it now!  Once all the testing is done they will unfreeze it.

EOS will run on DPO (Delegated Proof of Stake).  EOS Block Producers will be selected by voting and voting will be carried out by staking tokens.  The more tokens you have the more weight your vote carries.  15% of the networks total tokens must be staked in order for users to kickoff token transfers.

There is a lot of confusion within the EOS community on how this voting process is going to work.  The main mission for EOS is making the voter process user-friendly.  EOS has to set all this up.  They will need to fix all the bugs and issues and set up a user-friendly voting system.  All this could take not only days but weeks.  So those that think the mainnet will be live in a matter of days is crazy.  My prediction is that it will be live middle of July.

Beware of Scams

There will also be a lot of fake EOS clones that will try and steal your tokens.  It will be hard for EOS holders who are not tech savvy to get tricked or scammed.   Therefore do not send any tokens and keep your private keys safe and secure.  Listen to the mainnet EOS block producers before making any transfers of any kind.

John Yoon

John Yoon is the Editor in Chief at Startup Radar, Organizer for Startup Festival 2017, Head of Operations Korea at EOS Asia and the Global Marketing Director for Foresting.io. Email = john@startupradar.asia if you are interested in guest contributing and helping the Korean startup ecosystem. Wechat, Kakao, and Line user ID is jswy315

No Comments Yet

Leave a Reply

Your email address will not be published.

STARTUP RADAR 스타트업 레이더, 등록번호: 서울, 아04879

발행인: 주식회사 스타트업 레이더 김동혁 // 편집인: 서해

발행소: 서울 송파구 정의로 8길 13, 6층 (문정동)

발행일자: 2017년 12월 19일 전화번호: 070-4771-5148

청소년보호책임자: 서해