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EOS Is Officially Up And Running – Ethereum Creator Vitalik Buterin Says The EOS Model Is “Much More Centralized”

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After various trials and deliberations, the EOS blockchain becomes fully active and online. Block producer EOS Authority celebrated this with a tweet. But what’s next for the platform?

EOS is a new proof-of-stake blockchain that aims to become faster and more efficient compared to its rival, Ethereum.

The developers will start working to deliver on the promise of enabling millions of transactions per second and also attracting commercial and large-scale enterprises to build on the platform.

EOS will host DApps and smart contracts

Just like Ethereum, EOS will be hosting blockchain-based smart contracts and decentralized applications.

EOS is officially up and running, and this means that developers can begin to actively launch their DApps.

The website EOSIndex features more than 140 DApps in active development. The Ethereum currently has more than 1,600 DApps up and running.

The initial launch was delayed due to security issues

There were a lot of security vulnerabilities which delayed the initial launch of the blockchain.

This happened when a Chinese Internet security firm revealed what it called a series of epic vulnerabilities in the platform.

Chief technology officer of EOS pushed back on the claims and said that most bugs had already been addressed and resolved.

But the team’s developers and block producer candidates needed more time just to make sure that the platform was flawless before they could move forward.

The vote is completed

The blockchain had to receive 150 million votes from token holders who selected the final list of block producers – the 21 individuals and organizations that will power the network. The vote is now completed.

EOS will rely on its 21 block producers, and some suggest that this may leave the network open to manipulation and also cement its future as a more centralized platform.

For instance, Ethereum creator Vitalik Buterin said that the EOS model is now “much more centralized.” EOS is well known for its incredibly successful year-long ICO that raised about $4 billion.