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EOS MainNet Still Not Live and All the Reasons Why

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EOS Mainnet
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EOS gained special attention once it managed to push Litecoin down to the sixth spot on the global coin ranking list while taking over its originally long-held place as the fifth-best coin in accordance with its market capitalization that now counts over 9.6 billion dollars. However, what came with even radical anticipation is the launching of the EOS mainnet.

The network encountered several problems during the initial launching and prior to the launching of its main net, starting from troubles revolving around voting for the release of the main net to having EOS holders not being enough tech-oriented to be able to follow up with the entire token transition without having the appropriate tools for voting block producers either. All in all, it seems that the past couple of days came as chaotic for EOS.

The most chaotic moment maybe belongs to the case where many holders are not sure about the reason why EOS main net still didn’t go live. In that spirit, here are all the reasons, technical and circumstantial, for not having the EOS mainnet live at this point.

EOS MainNet Launch: Dead, but Alive?

Although it may sound like a Walking Dead episode, many EOS holders might have the feeling that EOS mainnet is quite dead although alive, which is a completely wrong impression.

The fact is that the main net is still not going live for its users, but it is also the case that the main net was successfully launched two days ago, on June 10th. After the third voting session successfully took place, EOS holders voted EOS main net launch to happen on the mentioned date, as it was eventually at 13:00 UTC.

However, due to the fact that the block producers are still waiting to be voted, EOS main net won’t be able to go live until that happens.

That means that the holders first need to vote their block producers while choosing 21 block producer that would make an essential addition to the operational power of the EOS network.

The block producers that are yet to be voted in order to officially take their places on the EOS network are all presented to their voters, however, some developers that remained faithful to EOS, making contribution to the chain prior to being chosen as candidates for block producers, are not sure who some of the top block producer candidates are, stating that there seem to be a case of making favorites while presenting developers unknown to the EOS community as potential block producers.

In the opinion of some of the candidates, some EOS holders might be disappointed in this case so they are hesitating with staking their tokens in order to vote, which additionally postpones the moment when the network will go live.

EOS Network Not to Go Live until Block Producers are Chosen

The fact is that the newly launched main net won’t go live until the block producers are voted.

All EOS holders have the right to vote, and their right is powered up by the number of tokens that they chose to stake in the voting hub. The greater the amount of tokens is staked by a single holder, the greater voting power that voter will have.

It has been stated by the EOS team that there need to be 150 million tokes staked in order for the voting to be completed and announced as valid, which means that EOS is ”only ” 150 million tokens away from being marked as live and ready to use.

However, it seems that the voters have only staked around 30 million tokens, with the first 10 million being staked during the first day of the main net launching. The reason why the network needs 150 million tokens in order to vote who the block producers would be, is because there need to be 15% of the tokens staked in the voting hub.

The importance of this voting is massive since the chosen block producers will operate the same way the block miners do, so their job would be crucial for efficiency and effectiveness of the new EOS main net.

There is a problem with this voting as well, which prevents the main net to be launched as soon as possible.

EOS Holders Are Not Sure How to Vote

What might be the biggest problem besides the fact that EOS needs five times more the amount of EOS they currently have is the fact that those holders that can be categorized as non-technical users or not particularly tech savvy are not sure how to vote.

Apparently, at the beginning when the voting for block producers have been announced as the ultimate goal that needs to be completed in order for the main net to go live, EOS voters could only vote by directly using the command line, which was pretty hard for the part of the voters that is not particularly tech-oriented.

Although there are a couple of tools for voting that appeared after the voting was announced, there are still a lot of voters waiting to have these tools confirmed and approved by the EOS team, while also probably waiting for more precise directions on how to vote.

EOS’ Performance

While the market seems to be greatly divided at this moment with one part dropping and the other part of the cryptos going up with different growth rates, EOS seems to be in the team “red”.

After the latest change that took place in the last 24 hours, EOS has gone down by -1.69% against the dollar, which means that EOS can be traded at the price of 10.82$ per one unit.

EOS tokens are currently in the transition between the previous chain and the new main net, while also waiting for EOS holders to stake their tokens towards fulfilling the goal of 150 million EOS units staked for the voting of block producers.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore
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Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also…

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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