Nick Chong · 2 days ago · 2 min read · Insights via Grayscale Investments
The EOS block producer voting process has drawn to a close, resulting in the official launch of the EOS blockchain at 6 PM UTC on June 14.
The launch of the EOS mainnet is the culmination of a $4 billion dollar initial coin offering and months of development and allows development and implementation of the platform to begin in earnest.
The launch of the mainnet will see the EOS platform, developed by Block.One, officially handed over to the EOS community. The EOS blockchain is now the fifth-largest blockchain by total value, ending a launch process that involved several stumbling blocks that included security concerns and voting difficulties.
— EOS Authority (@EOSauthority) June 14, 2018
EOS Block Producers Elected
The voting process resulted in the election of 21 block producers fairly evenly distributed across the world, with the current EOS Block producer list at the time of this report as:
- EOS Canada
- EOS Authority
- EOS New York
- EOS Cannon
- Huobi Pool
- EOS Gravity
- EOS Argentina
- EOS Rio
- EOS Sweden
- EOS Beijing
- EOS Asia
While the initial voting process for launch may have concluded, the voting for block producers within the EOS network is ongoing — block producers can be voted in or out by the EOS community at any point in time. As such, the lineup of block producers is expected to change rapidly as the EOS blockchain stabilizes and voting continues.
The distribution of EOS block producers is located primarily in the US, China, and South America, but retains fairly global distribution as evidenced in a map of EOS block producer distribution created by EOS community members.
Interestingly, cryptocurrency exchange Bitfinex was able to capture a position as a block producer due to the votes of just four EOS holders. Statistics captured by EOS community members via EOSstats.io demonstrate that Bitfinex captured over 50% of its vote from just four voters, with the top voter accounting for 27% of all votes for Bitfinex.
While the consensus method used by the EOS blockchain does allow network participants to exert control over block producer elections, the influence exerted by whales in the election process has a demonstrably significant impact.
The EOS token performance has exhibited strong gains subsequent to the launch and is currently swinging upward on a wave of positive market sentiment due to recent SEC clarification on the regulatory status of Ethereum.