It’s been 12 days since the EOS snapshot, and the newly launched blockchain is not yet validated, according to the rules of the project. At first, it took longer to reach consensus on the code launch, while the community was also chasing and repairing bugs.
Now, the wait is on for the elections - in one day, the tokens that voted increased from 3% to around 6%, with days to go until the threshold of 15% is reached. Several problems slow the voting, including a rather complicated technical process, and the need to lock tokens for days while casting the vote.
The biggest fear now is that the voting could stall. Block producer candidates are active on social media, explaining and enticing EOS private key owners to complete the task.
But questions still arise what happens if EOS remains within the testing stage. The network has already produced 300,000 blocks. As an incentive to vote, those who show up before the count reaches the minimum 15% are incentivized with a bonus on the RIDL airdrop.
On a positive note, recently Binance announced it would distribute airdropped tokens if the projects cooperate and send the assets to the exchange. As for listing the tokens, the procedure would be the same, and no automatic listing would be possible:
EOS is attempting to complete the launch task during another dramatic market downturn that saw Bitcoin settle in the $6,000 range, another step downward that dragged altcoins and wiped out nascent optimism.
EOS threatens to drop below $10, as the asset wiped out more than 27% of its price in the past week, to slide to $10.24.
The markets continue to be in the red, and while EOS is more decoupled from Bitcoin compared to other coins, the price is still shaky. Some see the scandals and delays behind EOS drag the price down further, as low as $5.
This article appeared first on Cryptovest