Where is the EOS mainnet?
Is it launched yet?
Yes and no, it is a community Genesis bootstrap in progress.
There can be only one?
It just became clear to me that the Block.One company just raised some capital of 4 billion US Dollar. Not bad for a start-up that is going to handle the development of the EOS software. And also the lobby plus marketing. The official version 1 of the EOS blockchain software was released on the 3rd of june 2018. While the EOS token on the Ethereum blockchain was locked and a snapshot was taken the day before. And although it is called the release of the EOS mainnet, like I did in a previous post, it basicly is the release of the first final software version. The one that would kickstart the real mainnet of EOS. But where is it? Is it even live yet? Well, at this point it is getting a little bit complex. Just like Steem uses witnesses to keep the blockchain going at 3-2-1:BLOCK-DONE, EOS uses 21 block-producers that do 1 block every half a second. But first an EOS main blockchain needs to be bootstrapped. Things need to be checked, like the EOS holder snapshot and so on. This whole proces needs at least a couple of days before the EOS mainnet can be considered live and enabled.
Just being activated is not enough. But as soon as the whole boot-up proces is successfully done things will take off for EOS. Sidechains can be launched, each with their own airdrop token, but still the main token on all of the EOS intertwined blockchains will be the same, that is EOS. At the moment of typing this text the whole bootstrapping proces is still complicated, or quite unfriendly for the majority of users. Therefore most of the EOS based projects will launch their activity up to 10 days after the mainnet got kick-started into existence. At this this it will be clear that there is indeed a main blockchain at the center core running EOS. And in a way this is almost working like an operating system on a computer. Except that this is a complex worldwide proces that takes at least 2 days to get off to a right start. Yet once the proces is running stable, through community efforts, it will be truly enabled, to be used by a lot of projects that are set and ready to go.
Price drop?
Well, this whole proces of getting this Blockchain Operating System Software {BOSS} really up and running, able to move substantive on its own, takes a while. And some might lose their nerves in this proces and start dumping their EOS on exchanges. It does happen, if not already happening. Fear, Uncertainty and Doubt {FUD} will further fuel this, I'm sure about that. Block.One does support this whole proces of booting up EOS {Extraordinary(?) Operating System}, keeping on alert for creating patches, helping out where needed, yet they will not produce any user interface applications and or websites. This is where entrepreneurs, projects and communities come in. While blockproducers take care of the kickstart proces, at some point EOS mainnet will be live and enabled. And then things should really become more clear and that is where people will register and activate their EOS, deciding what to stake and so on. At this point it might be difficult to be able to imagine what this will be like. Just like all these airdrops being announced, but how to get them and what can be done with them? Still until that time the price of EOS on the market might drop quite a bit.
Will EOS succeed?
At one point Block.One did become a multi-billion US Dollar worth company, that probably will take matter in their own hands if, for any reason, the EOS blockchain bootstrapping fails. Yet, their main focus is on further development and making sure it will get the right marketing. And then there might be issues with governments that they will do their best to solve, as I came to understand. Paying developers is one thing Block.One will take care of. Meaning smart minds will be putting their time and effort in improving EOS all of the time, while being sure of an income as long as they do. SteemIt Incorporated does in a way work like that. And as far as Steem goes, you and I can confirm that this actually works out. There is an incentive to move on and after EOS gives the signal that the bootup proces has finished, it will show what it is capable of. And that will probably attract more investors into the market. There is however never a guarantee that anything will succeed, it is hard to apply logic to these kind of things. Thus remember to only invest in Cryptos what you are willing and able to lose.
All we need is just a little patience.
As a Linux computer user I am used to fast bootup times. If you have a SSD harddisk inside your computer, you know that even Windows can startup fast. With the Blockchain Operating System Software {BOSS} like EOS it is a bit more complex. As once it is started it needs to be able to run at high speed and keep moving in those blocks, every half a second! This means all the blockproducers need to be in sync all over the world, connected through high speed internet. And all the EOS tokens need to be implemented so every rightful owner will be able to claim them and any linked _airdrop_tokens. After that it is confirmed that the blockchain is running like it should, the other projects will go live. Meaning the users can get aboard and do what they want to do. Most of them do not even want to know what complex processes are running behind the screens, just like most will just want to drive a car and not be a top notch mechanic just to be able to do so.
Therefore, if this is going way over your head already just reading the title of this post, yet you own EOS, or want to be part of one or more project running on top of its motor, stay calm and relax. All we need is just a little patience.
May the Cryptos be with us!
The EOS portal, to keep an eye on.
Screenshot taken at http://www.eosportal.io/
The sentiment around EOS remains quite bullish. I hope this situation does not take too long. If Block.One has to take matters in their own hands, it would be bad for EOS and the space, since a decentralised approach failed.
I still think it is smart what Block.One has done. The only promise they made is bringing out the code. It is all up to the community what is going to happen. No other promised they can be held accountable for. Pretty nice $4 billion. Let's hope they don't stop taking the project serious for the next 10 years. I think it would be good if Dan stays that long with EOS, and not hop to the next project after 1-2 years ;-)
It would be best indeed if Block.One only has to focus on the software, promotion and so on, I agree.
EOS needs to kickstart as intended, projects need to run on it.
Well, Daniel Larimer will stay as long as he thinks he is needed, I guess. But long enough to make sure EOS can run substantive.
Block.One will probably around longer. And maybe this is Dan his third and the crown on his work?
Hope the market will pick up soon again.
Such a valuable information about EOS and i think it will be a profitable platform. Sir can you please tell me what's the true price of steem dollars as when i search it on coinmarketcap then i see it's 63% rising but some people say it's a mistake or not the true price of steem dollars. Then i also inter on steem currency market then there is also no updates. Steem is still show high then sbd in steem currency market but coinmarketcap show steem 2.46$ and sbd 3.38$.
EOS will suprise a lot of people soon I think.
The price of SBD being higher is caused by the HitBTC exchange, there Steem Backed Dollar were sold at about 18 USD. That is why Coin Market Cap dot com shows a higher (average) price, than the internal market. The rest of the markets settle for about 1.80 US$, no idea why this, apparent anomaly, happened.
It would be quite interesting then to sell SBD at HitBTC, but it might be a temporary happening, at least I do expect it to be. Could be a buy order set at a wrong decimal? But I expect it to get corrected very soon.
Thank you sir for your kind response and clear the concept.
What is this "patience" of which you speak?
It is a secret magical spell not many know of, yet it seems to be able to work miracles when put into action. Still hope to master it one day...
I can't wait!
😵
It's fun to read seriously. Remarkable narrative description. Thank you for sharing, Brother.
Glad you do appreciate my writing. :-)
Blockchanin iOS continues to grow, hopefully its easier to run it.
Thanks @oaldamster
EOS will proof itself.
I have read your article.
It turns out complicated EOS work system.
I hope, hopefully the future can be easy.
Have a good day @oaldamster
The ease of use will come, right now the starting proces is complex.
No need to know how the engine works to be able to use a car.
I hope this will go as we expect @oaldamster
It shows two active chains now.
Three already...
There Can Be Only One! Oh, wait ...
Hahaha, at one point there will one...
I have read your article , it turns out complicated EOS work system .
I am waiting for your next new update news .
Your post is always different i follow your blog everytime , your post is so helpful . I always inspire of your post on my steem work . Thank you for sharing @oaldamster
Keep good work of every time ...
Getting to this part feels as if you’re talking to me in person. I waited for the launch of EOS so much and all I wanna do is get my hands on as much as more than enough EOS as I can get and I want to be part of so many projects and I’m calm I can say I’m gonna be patient enough , the patient dog eats the fattest bones
It will be worth the wait.
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