Block.One is giving away its $4 billion code this weekend and it’s anyone’s guess what will happen next. As profiled by CoinDesk, EOS is set to launch sometime soon, though the company that built its code is going out of its way to prove the software really will be open-source.
This means it isn’t even designating an official launch. Rather, it’s up to potential users to take it from there (whether that results in chaos or not).
In some ways, it’s the latest unorthodox approach by EOS and its founding team, which has attracted controversy even for its architecture. (To process thousands of operations every second, EOS will rely on just 21 validators or “block producers” to verify each transaction, an approach the differentiate from bitcoin’s commonly copied model, in which any “miner” running the software on a certain kind of hardware can do this.) Right now, though, the question is whether or not EOS can successfully launch.
Someone needs to launch the code. It needs to get tested and verified.
Block producer candidates need to publicly identify themselves. One of them will need to be randomly chosen to create the genesis block, and then voting on the official first slate of block producers will take place. Read more from coindesk.com…
thumbnail courtesy of coindesk.com