The EOS blockchain is now live.
At press time, the blockchain has received more than the 150 million votes needed to determine the individuals or entities that will maintain the distributed network, the world’s fifth largest by total value, thus ending a weeks-long process that had been among the most complex the evolving cryptocurrency market has perhaps ever seen.
As such, the news effectively ensures that the software for which a company called Block.one raised more than $4 billion during an almost year-long initial coin offering (ICO) will now be accessible. According to best estimates, the blockchain began operations at 17:46 UTC.
This happened after a roughly a week of deliberation and testing by block producer candidates – those groups vying for one of 21 validator node spots in which they will receive rewards for verifying transactions – from all around the world. While that testing phase uncovered several vulnerabilities that caused two groups to go head-to-head on the correct implementation and delays for the launch, on June 9, block producer candidates voted unanimously in favor of launching the blockchain…
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