With the promise of having coin that can be used for a lifetime which can possibly even displace Ethereum from its position as the leading ecosystem for distributed apps, EOS is seen to be making big wave in the crypto space.
However, just previously, EOS has taken a huge step as compared to other assets as the hype alongside the main net launch is not enough anymore to sustain it. EOS has been making noise around the approach on hackathon:
Down with more than 14% this week and landslide at around 2% in the previous day, EOS stands at $17.01. Volumes are going down quickly and buyers at peak prices who expect a $30 climb are now potentially losing.
As EOS trading took over more than 15% of the crypto market just a few days ago, they have quickly given way to other assets and have fallen below 6% of all the deals.
The voting for block producers is still not clarified even with just a few weeks before the promised launch. It still unknown which entities are going to hold the large amounts of EOS tokens and provide the hardware and oversight in verifying the distributed ledger of EOS.
The robustness of the network will be defined by the upcoming token holders for the EOS. As believed to be a more suitable type of candidate for the community, a grassroots campaign has already been unrolled.
The token holders of EOS are being advised to focus on specialized entities that are dedicated to EOS per various geographic locations instead of voting for exchanges or large mining pools.
In that manner, voters are expected to perform a more complicated due diligence process by knowing the hardware capabilities of a potential block producer including their trach record in community outreach and GitHub commitments. Therefore, the EOS network building would serve as a real-time experiment in distributed consensus given that there is no centralized plan to build the network of 21 block producers.