Confusion surrounding the fairness of voting, and amid heated debate over the weekend, EOS has unveiled the first blocks. It is still waiting to become operational.
The EOS Project has to wait till June 10, 2018, to get the Go Live Voting amid accusations that voting is too centralized. The voting is held at the end by an Appointed Block Producer. It may lead to a potential sponsorship. Also, the Block Producer ecosystem, which is a single server and single entity, is shaped in such a way that votes will be placed by the system itself. Despite all these chaos, one blockchain could actually take off.
At least 15% of the EOS Owners Needs a Vote to Activate Blockchain
The production of blockchain is not very important. The EOS owners will need to wait for a little more till their new digital assets can be spent. A minimum of 15% of the owners of EOS needed a vote to activate the blockchain.
The owners need to stack the tokens and use them for voting to make the blockchain valid and to enable the normal functions. It will be a waiting period until the community of the token holders acts.
As per the information released by timeline, voting of the real block producers is now open. Around 150 million EOS is necessary for voting.
Only very few are having EOS in their wallets. Many criticizing are that exchanges are not supporting the voting right now. The users, who have registered their EOS, must have the private keys. The confusion and complexity surrounding the voting may delay the EOS and need to wait till 15% votes are collected for activating the chain.
Market Price of EOS Declines by over 15%
The market price of the EOS has declined by more 15%. It has seen a weekly drop of 21% to settle at $11.36 due to active trading. Its price is likely to come down to 5% due to panic selling. The trading volumes are more than $2.5 billion in a 24 hour period.
The negative trend of the EOS is coinciding with the general downtrend in the market now.