Fifth Largest Cryptocurrency EOS’ Blockchain Set to Launch

Fifth Largest Cryptocurrency EOS’ Blockchain Set to Launch

The EOS blockchain is set to launch today, June 9, according to the results of a live-streamed vote that took place yesterday, June 8.

Candidates to become the EOS blockchain’s so-called “Block Producers” – the equivalent of miners on the Bitcoin blockchain – voted “Go” in their latest voting session to make the EOS mainnet go live at 1:00pm UTC today. The community has yet to confirm that a successful launch has taken place as of press time.

EOS LAUNCH IS A GO! The blockchain will launch at 1300 UTC Saturday. GO EOS!! #eosio #blockchain #cryptocurrency

— EOS Go (@go_eos) June 9, 2018

The news comes a week after 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 let enterprise-level and “community-driven” businesses build scalable blockchain-based applications.

EOSIO, which commentators expect to compete directly with Ethereum (ETH) as a protocol for building decentralized applications (Dapps), also received a new boost of funding last week. The same day Block.one released EOSIO 1.0 to the public, the company announced the launch a $50 mln fund to support the development of the EOSIO “ecosystem”, in partnership with London-based blockchain investor, SVK Crypto.

On June 1, Cointelegraph reported that EOS had completed its year-long token sale, raising a record-breaking $4 bln to become the largest Initial Coin Offering (ICO) in history.

EOS is currently the fifth largest cryptocurrency by market capitalization, with a market cap of $12.8 bln. The coin has seen just over 3 percent growth over the past 24 hours to press time, trading at $14.37.

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