The EOS voting process for the 21 block producers has now finished with 169 million tokens staked and taking part in the election. This means the 15% threshold has been breached and the Mainnet can now be fully activated.
The rate of voting had started to pick up yesterday and seems to have accelerated Thursday as larger token holders joined the voting.
There are several decentralised applications already built for the platform. Everipedia and Iyro are two apps that have attracted attention. Everipedia is an online encyclopdia built on blockchain technology and is backed by the founder of Wikipedia himself Jimmy Wales.
Despite doubts that were looming this week because of the slow progress in the voting, the process has been completed in five and a half days.
The voting now continues on a permanent basis so that block producers will be permanently up for election, with the group of 21 potentially changing often. The voting will be updated every two minutes.
Various EOS groups will now compete to see whose blockchain will become the most popular as there is likely to be more than one chain. The 21 block producer are rewarded with 1% of the EOS token inflation of 5%.
To develop application on EOS, projects will have to stake tokens for resources such as RAM and storage, which could have the effect of pushing up the price of tokens as they get tied up on the network.
Posted from my blog with SteemPress : https://coinintelnews.com/the-eos-voting-has-now-finished-with-169-million-token-staked-and-voting-this-means-the-15-threshold-has-been-breached-and-the-mainnet-can-be-fully-activated/