EOS Mainnet has finally managed to collect the minimum number of votes required for the blockchain to start operating. EOS Mainnet was technically launched on June 10, 8 days after the release of EOSIO v1.0 Block.one. However for the system to be activated, users had to stake votes using their tokens. At least 15% of all issued EOS tokens had to be casted for the system to be validated.
However it soon became apparent that it may take some time for the 15% target to be rached as users began to express their frustration with the voting process, in particular choosing the 21 initial blockchain producers on which the new system will rely.
However, at 11:47 (GMT+1) the fifth largest distributed ledger system by total value has acquired 17,7% votes, crossing the critical barrier of 150 million votes. And thus the weeks-long process of launching the system in full is now over.
You can track the remaining voting process here.
Against the backdrop of news, the price of EOS (EOS/USD) has spiked up by 6,26%. (at the time of publishing)
Just a reminder: A blockchain for the EOS project, was created by Block.One which also raised around $4bn through selling EOS tokens in an ICO, becoming the largest ICO in history do date.
By Nadya Astam