After a whole lot of toing and froing, article after article, comment, and debate, the EOS Blockchain is now live. It took a lot longer than expected and had us all sitting on the edge of our seats but finally, now the much-anticipated go-live of EOS has marked another point of history in the Cryptocurrency industry.
EOS is yet another groundbreaking element in the Cryptocurrency market and offers its customers a great solution for storing information. Although there are plenty of platforms for doing this available worldwide, the difference with EOS is that it hosts the data using a distributed system that is based on Blockchain. It is the first of its kind, and although it may now be live, everyone is still going to be closely watching the progress after the launch.
EOS’ Different Approach
EOS has been turning heads throughout its whole life by adopting an approach which is quite unlike anything else in the Cryptocurrency world. This, in turn, has led to a vast array of arguments and has caused many heated discussions and differing opinions. There have been some great big debates over this one.
The company behind the solution – Block.One – started their controversial concept with a year-long initial coin offering (ICO) which resulted in well above $4 billion being obtained. Although the amount secured was a huge statement in itself, the discussions began over the fact that Block.One was producing open source software. This had never been done in the Cryptocurrency market before.
The code was released by Block.One on the 2nd June and then it was left to the EOS community to lead with the next stage with Block.One taking a complete step back. Again, another momentous occasion. The last couple of weeks has seen developers come on board to take the open source code from where it was to be tested and market ready. As well as this, the 21 block producers had to come on board and then prepare and agree on their strategy for rubber-stamping the future EOS transactions. Despite go live finally happening; there has been a lot of controversy over the last couple of weeks getting to the winning tape. The fact that two rival groups were fighting to get their version of the code to the market ready state was an interesting read in itself.
The EOS Future
Despite this solution, at last, being live, there are still many defining moments left in its book, and there will for sure be more challenges along the way as users test the platform to its max. It operates completely differently from any other Blockchain, so there is nothing to compare to its launch. There are going to be many more moments of firsts to come, therefore. The scalability of the product will be put through its paces and how the EOS community reacts to bugs over the coming months will be a gripping watch.
Congratulations team on getting the product into the marketplace and good luck with the next few months, you certainly won’t be resting on your laurels just yet that is a guarantee.