EOS Block Producer Votes Trickle In, Still Far from 15% Mark
Cryptovest
Published Jun 12, 2018 02:03AM ET
Updated Jun 12, 2018 02:20AM ET
EOS Block Producer Votes Trickle In, Still Far from 15% Mark
The EOS community voting is underway, but seems to be dragging slowly. The target for the EOS blockchain to activate with a set of 21 elected Block Producers is 15% of all EOS should vote. For now, just about 3.45% of coins have voted.
The process is somewhat confusing, and it is unknown whether bigger wallets won’t vote soon. But the real-life solution for EOS shows that decentralization is not the answer when things need to move fast. Therefore, the launch has only chosen one, for now anonymous, Appointed Block Producer, to be in charge of the votes. The voting also happens through newly created, centralized sites.
Despite the fact that a lot of EOS is currently held on exchanges, having an EOS kew allows for a vote. Yet the voting process is somewhat complicated, and the tokens remain locked for three days when unstaked. It is also possible for EOS holders to transfer the voting rights of their tokens.
Right now, 150 million EOS are needed to count the quorum. In theory, a handful of wealthy wallets could complete the vote and build the EOS network as they see fit. As voting continues, warnings have landed about the qualities of block producers:
https://twitter.com/francisperron/status/1006202999809761280
The EOS market price has proven resilient during the latest drop in crypto prices. EOS only slid to $11.32, with extremely active volumes. One of the reasons is that EOS is one of the assets to a great degree unpaired from trading against Bitcoin. The most active pairs for EOS involve Tether (USDT), giving a direct price movement against USD-like positions.
!EOS!
The current level of voting for EOS happened in the first day, with more than 30 million tokens voting. As information about the process spreads and more holders attempt the vote, the number may increase. For now, BlockOne has not yet voted, and may abstain from doing so, despite holding around 10% of the EOS supply. The community sees the voting so far as successful, so the buildup to 15% may cause EOS prices to rise on speculation.
This article appeared first on Cryptovest
Get The News You Want
Written By: Cryptovest
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.