EOS blockchain isn't live yet: 'Few road bumps, no show-stopping problems'

05 Jun, 2018
by Jelmer van der Dussen
News
EOS blockchain isn't live yet: 'Few road bumps, no show-stopping problems'

Days after launching the mainnet, the EOS blockchain isn't live yet. According to a report by Coindesk, the blockchain will be going live in the next couple of days.

EOS concluded its ICO last Friday with a record-breaking $4 billion being raised over the last year. On Saturday the mainnet was officialy released and shortly after the first update was published already, with fixes to prevent a 'potential crash', according to Block.One CTO Daniel Larimer.

On June 2, the EOS tokens on the Ethereum network were frozen and snapshots were taken to preserve a record so that holders of EOS could receive the tokens on the EOS blockchain once that blockchain goes live. Since the blockchain isn't live yet, tokens are not tradeable, and Coindesk states that it's unclear at this time how exchanges are managing their book-keeping while trading continues.

With the first bugs being fixed, EOS is almost ready to launch its own blockchain. Multicoin Capital's Kyle Samani, one of the most prominent EOS endorsers, tells Coindesk: "Things are going about as we expected. A few road bumps, no show-stopping problems. I'm expecting the [blockchain] to be live in the next couple of days."

Last week Chinese security giant 360 published a report revealing 'epic vulnerabilities' in the EOS blockchain bringing the launch of the mainnet in danger. The EOS team quickly fixed these bugs before the launch date. 

At the time of writing, EOS tokens are valued at $12.98 with a market cap of over $11 billion.

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Read more about: EOS (EOS)

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