The EOS community voting has begun this week with the required 15% votes needed to elect 21 block producers who will ultimately be the caretakers of the EOS blockchain once voting has concluded.
However the slow response, confusion around how the voting system works and lack of interest from speculators who hold the coin, means up to date only about 6.45% of the community have submitted their votes.
Over 175 accounts have been voted for with the frontrunners currently EOS New York. Block producers will be responsible for creating blocks, govern the blockchain and will also be the voice of EOS. The block producers will be rewarded in EOS. Each year, EOS will have an inflation of 5%, and 0,25% of that belongs to the 21 block producers.
The EOS code was given to the community on June 1, and it took the block producers a full week to test the code and give the green light for the EOS blockchain to go live. Now that the 'go' has been given, EOS holders can vote for the 21 block producers.
With the lack of voting currently taking place, many are saying that the voting process is confusing and not clear. Twitter user @Anthony_emtman has included a thread of questions regarding the process as well as instructions on how to vote.
4/ How do I vote? Cleos (the Command Line EOS system) is the most technical and most secure method of voting. If you are less technical, @BlockLiberty has developed a tutorial on how to vote using the Greymass voting tool. Please find that tutorial here. https://t.co/7sySGV3DyT— Anthony Emtman (@anthony_emtman) June 13, 2018
Some EOS holders do not feel the need to vote and perhaps do not understand why voting is such an important part of the project and community. EOS Canada explains in this brief video the importance of voting.
One concern is that most of the supply is owned by people who have no desire to vote and are simply holding the tokens speculating on a rise in price over the long term and have no inclination to see where the project ends up eventually.
This is hilarious:— Nicholas Weaver (@ncweaver) June 12, 2018
Because all the EOS tokens were bought by random-ass speculators, they've been unable to hold a vote to decide who gets to be trusted to actually run their system... Since the random ass speculators don't care.https://t.co/g4s3pZvaZ3
EOS voting is currently still active and a live feed for the voting percentages can be followed with a list of leading potential block producers.