Warning: "continue" targeting switch is equivalent to "break". Did you mean to use "continue 2"? in /home/web/www/thecoinshark.net/wp-content/plugins/tag-list-widget/taxonomy-list-widget.php on line 395
The Launch of the EOS Main Network Is Delayed Due to Weak Voting Activity | The Coin Shark

The Launch of the EOS Main Network Is Delayed Due to Weak Voting Activity

eos blockchain

According to the latest news, EOS’s mainnet was supposed to launch on the 10th of June or around this date. However, this long-awaited event was once again delayed due to some circumstances that we are going to cover in this article.

Let’s try to understand what came into the way of EOS this time. Frankly speaking, the network did launch, but it cannot fully operate until some requirements are met. The platform is currently hosting a special kind of voting. Its main goal is to elect up to 30 producers that will be generating EOS blocks.

The voting has certain regulations. In order to vote for the producers, token holders need to “bet” their EOS tokens on them. Only after 15% of the total amount, which is 150 million, are bet, the platform will be activated.

Unfortunately, the voting is not going as smoothly as planned. Only less than 5% has been bet so far. The EOS developers have not yet provided any estimates of when the remaining 10% of tokens will be staked and when the platform will “come alive”.

Token holders taking their time to vote may have a couple of reasons. Firstly, the whole process is not that simple and requires some basic technical knowledge. Secondly, voting is going to increase the chances of accidentally revealing private keys, which could have sad consequences. Thus, most people are playing a waiting game, expecting others to try their luck and vote first.

The situation with the EOS mainnet has been capturing the interest of those involved in the cryptocurrency market for quite a while. We will keep monitoring any of its changes or updates very closely.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/