After just two days of launching its Mainnet, the EOS blockchain has ground to a halt. According to a Steemit post by the top 21 EOS block producers (BPs), the EOS network suddenly paused at 10:01 UTC on June 16, 2018.
The BPs and a vast array of standby nodes keep scrambling “to identify and solve the issue, but transactions on the network remain frozen.
While no one can say for sure what the cause of the problem is, there is an 80 percent chance that the EOS Mainnet may be under a DDOS attack.
On May 31, the EOS team launched a bug bounty program on HackerOne. The group invited ethical hackers from all over the globe to hack the system to find out bugs and security loopholes.
Earlier in June, reports emerged that Guido Vranken, one of the bug hunters had been rewarded with a whopping sum of $120,000 for discovering 12 bugs in the EOS software.
It is worth noting that EOS is the currently the highest funded initial coin offering (ICO) in history. The project has attracted roughly $4 billion so far.
Just like Ethereum, EOS is a platform for launching DApps. However the EOS team claim to have achieved interchain operability.
At current, there are over a thousand DApps built upon the Ethereum blockchain it remains to be seen whether EOS can do better.
At press time, the cause of the ‘freeze’ on the EOS Mainnet remains unknown, the team is, however, working to restore normalcy as soon as possible.