Block.one, the company behind the EOS project, has confirmed that the EOS mainnet, called EOSIO, will launch this Saturday, immediately after the close of the 11-month token sale.
Yesterday it was reported that Qihoo 360, a Chinese security firm, had discovered a vulnerability in its code, leading to a drop in the token price and speculation that the mainnet launch would be delayed.
Earlier this week, Daniel Larimer EOS CTO, offered a $10,000 reward to anyone who found a bug in the code. It took the Chinese firm less than 24 hours to find this vulnerability. However, the EOS development team announced today on Reddit and Twitter that the issues have been resolved and the launch of the main network will proceed without delay.
Over $4 Billion Raised
The longest and largest ICO to date will end at midnight on Friday, when the three hundred and fiftieth and final stage of the token sale ends. Sales, which began on June 26 last year, brought EOS more than $4 billion. It is currently the fourth largest cryptocurrency, with a market capitalization of over $11 billion.
Block.one will allocate $1 billion of these funds to invest in startups that will be developed on the EOS network. It is not yet known how the remaining funds will be used.
ERC20 compatible tokens will be converted into new tokens immediately after the network launch on Saturday. EOS token holders will have to register their tokens with exchanges to ensure they receive the new currency. As of May 24, only 48% of tokens were registered.
According to icoexaminer
You May Also Like
Monero audited its new protocol
Monero is an open-source, decentralized cryptocurrency that ensures strict privacy using the latest cryptographic technologies. Monero is now rolling out a new version of its protocol using bulletproofs, a non-interactive zero-knowledge proof created by Benedikt Bünz.
Stellar Dolphin fork set for August 30th
The Stellar Dolphin fork is scheduled for August 30th. The opinions of the crypto community are divided. Reddit users are sure that Dolphin is a scam with empty promises; the developers are convincing of the need for a fork and new features.
