As of press time, over 177 mln of all EOS token have been staked, successfully validating the EOSIO blockchain.
Candidates to become the EOS blockchain’s so-called “Block Producers” – the equivalent of miners on the Bitcoin (BTC) blockchain – first voted “Go” in a voting session on June 8, kicking off a preliminary ‘boot stage’ that has now been sealed by official mainnet validation.
Some crypto commentators have attributed the week-long lapse that followed June 8 GO decision to the fact that tokens held on crypto exchanges were not eligible to be staked for the mainnet vote:
Earlier this month EOS’ creator, blockchain software developer Block.one released version 1.0 of the blockchain protocol EOSIO to the public. The EOSIO software is designed to allow enterprise-level and “community-driven” businesses to build scalable decentralized applications (DApps) on its platform.
Commentators have been expecting EOSIO to compete directly with Ethereum (ETH) as a DApp-supporting blockchain protocol. On the same day of its EOSIO 1.0 software release, Block.one announced the launch a $50 mln fund to support the development of the EOSIO “ecosystem”, in partnership with London-based blockchain investor, SVK Crypto.
EOS is currently the fifth largest cryptocurrency by market capitalization, with a market cap of $9.7 bln. The coin has seen an over 3 percent growth over the past 24 hours to press time, trading at $10.81.