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.
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
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…