After the vote, the testing stage will be completed and the qualification stage will be followed, which will require at least 15% of the tokens set as proof of possession and ready to be used in voting for the candidates. block producers. Once this happens, the EOS chain will be considered valid and your users will be able to start trading with it.
The launch of the EOS Blockchain has been confirmed by 1:00 pm, today's UTC time, with a unanimous decision among voters, consisting of validators or "block producers" (equivalent of EOS for Bitcoin miners). The mainnet is now in the process of being launched, with a live broadcast provided by EOS Authority, which counts the seconds for activation.
The EOS mainstream activation process has been extensive, with candidates from block producers, who will function as validators in the network, who were voting to determine if Blockchain would be activated or not. The EOS project, created by Block. One, raised approximately USD $ 4 billion and will use a consensus mechanism that allows network participants to "vote" for block producers.
The launch of the EOS mainnet is currently in full development and will consist of five stages. The "snapshot" stage follows the completion of the EOS ICO, carried out last week, which has resulted in a final projection of all the balances and accounts of the first crowdsale completed by an EOS Authority candidate.
The second stage of the launch is the start stage, in which the EOS chain is activated with projection data and with all the initial contracts. This stage will be followed by the test stage, which was already complete by the time of writing, and which was subject to a short delay due to a series of safety tests and the need for the vote of approval of the candidates of producers of blocks.
The empowerment stage will cause the community of block producers to publish a joint statement once it is safe to vote for network participants. For the EOSIO chain to be considered enabled and valid, 15% of all tokens will need tenure votes for the block producers. There is no set period for this voting process: the time period of the empowerment stage will depend on the EOS community.
Roshan Abraham, from EOS Authority, commented on the voting process:
We are currently working with other candidates from block producers to launch the EOS mainnet. The chain will be launched with EOS v1.0.2 that was launched a few hours ago. "
Once 15% of all tokens have been taken and used to vote, the EOS chain will be considered valid, which results in all the normal functions of the chain being activated. The producers of designated blocks will be replaced by the block producers that have been voted by the EOS community, and the chain will begin to operate. At this stage, EOS holders will be able to de-link their EOS balance and start executing transactions such as RAM transactions, payments, Dapps and more.