Connect with us

Blogs

Peaks and Lows of the EOS (EOS) Main Net Launch

Published

on

EOS
READ LATER - DOWNLOAD THIS POST AS PDF

EOS managed to collect over $4 billion over the course of a single year while trying to fund the most anticipated project in its history called Block.one. Block.one is a stepping stone for the launching of the main net of EOS currency, which would mark the beginning of a new era for EOS and the team behind this crypto. However, the team seemed to have been delaying the main net launch as the moment when the launching was originally scheduled got near. That is how a voting session took place in order to decide when will the long-anticipated EOS main net be launched? Here is what the voters decided.

Voting, and the EOS Main Net Launch

There were a couple of voting sessions taking place in order to decide who will represent a group of Block producers within the EOS main net, as well as when will the main net be launched.

The first voting session that took place was soon marked invalid for certain technical reasons, so even though the launching of the EOS main net got a green light, another round of voting took place in the EOS community.

The second voting session was then successfully conducted, followed by being marked as valid. However, the main net launch didn’t happen even then because the launching failed to meet the previously agreed upon point that would enable the initial action of having the main net released for the public use.

The leader of the voting group stated for New York Telegram that the voting that took place in order to vote for a date of the main net launch was a complete chaos that led to more confusion that is already revolving around this occasion.

He also added that they need to come up with a protocol that would enable a less chaotic voting session.

Deciding on such a huge thing can be a source of indescribable pressure; however, the voting just needed to be done properly, which in the end happened.

The voting took place once again, so it was announced yesterday on June 9th that the voters were able to submit their votes again, which resulted in having a definite green light for the launching of the main net. The release of the EOS network officially took place yesterday on June 9th.

However, it is yet not clear to the public in which way the Block producers will be chosen as well as what their roles would exactly be.

For now, it is known that the Block producers stand for block miners, so it is evident that one of their roles would be validating transactions, which is one of the crucial points of the on-platform operations when it comes to blockchain-based ecosystems.

The chosen block producers will, of course, get to be paid for their services and contributions and their payments will be given out in form of inflated EOS units.

There should be a total of 21 block producers and all EOS holders will get a chance to vote for or against the candidates that are entering the voting rounds in order to earn a spot of a block producer on EOS main net.

The block producers should be voted any time now as the voting is scheduled to take place after the main net launch.

Although the main net launch of EOS was wrapped up in tension and chaos, mostly due to voting, that isn’t all the bad that happened to EOS community prior to the launching of the main net.

EOS and the Phishing Email

One of the definite peaks of this entire story is the fact that EOS main net finally got launched; however one of the greatest lows that marked the launching of this network was a case of a phishing scam email.

Apparently, there was a lot of criticism coming from the public due to this email although the scam had nothing to do with EOS and its technology – EOS was proved not to b guilty for the vulnerability caused by the phishing scam.

During the investigation of this case, it was discovered that the phishing scam took place and raised tension due to a hacked Zendesk account.

Alongside with the phishing email scam, EOS suffered in media sue to having its main net launching being delayed due to several security concerns as expressed by a company based in China that was able to spot these issues in the first place.

That is why the team couldn’t have the main net launched before June 9th when the network was finally launched. In order to be able to make the main net public, the team behind Block.one had to go over all these issues while fixing the found bugs in accordance with the security reports.

However, despite all the difficulties that the team has met along the way, it has become official news that the EOS main net has been finally launched. This achievement makes a massive goal on the roadmap of the fifth-best currency, so we can expect to see new victories coming from the team EOS.

Luckily for the main net users, the team has managed to successfully polish up the entire system while removing the bugs that were delaying the initial launching of the network.

EOS’ Performance

With the plummeting market, we can see a great portion of currencies dropping against the dollar. That is how EOS has dropped by over -14% in the last 24 hours while being traded at the price of 12.25$ despite the main net launch that took place just a day before.

However, EOS will most certainly get a chance to collect the fruits of the main net launch in the following months.

For the latest cryptocurrency news, join our Telegram!

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.

Image courtesy of Pexels

Blogs

Reasons Why You Are Much Safer When Crypto Trading on Dexes

Published

on

DEXes
READ LATER - DOWNLOAD THIS POST AS PDF

While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

Continue Reading

Blogs

Crypto Billionaire Predicts Massive Price Growth by 2021

Published

on

crypto billionaire
READ LATER - DOWNLOAD THIS POST AS PDF

Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

Continue Reading

Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

Published

on

TokenRoll
READ LATER - DOWNLOAD THIS POST AS PDF

Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

Continue Reading

Elite