EOS mainnet doesn't have enough votes to launch

The situation around EOS continues to heat up. It's been more than a week since Block.one released EOSIO v1.0, more than three days since mainnet development was completed, but the EOS blockchain is still not working.

Currently the software is in a suspended state or No-Go mode. A product that exists but does not function. The launch of a blockchain is impossible without voting and selecting candidates who will ultimately manage transaction processing. 

What was considered the highlight of the EOS ecosystem has become its problem. There is no way for the community to vote for 21 mining pools that will create blocks for the blockchain service and that will have full support from platform users. The first vote of companies vying to create blocks for EOS ended with accusations that it was too centralized and was conducted by a secretive designated block producer, a single entity with a single server. This situation has led to outrage in the community and concerns about the introduction of potential censorship and the formation of the Block Producer ecosystem.

The minimum threshold must be 15% of the tokens allocated by the owners as votes, as of today this is only 6.77% (data from EOSAuthority.com). Users are in no hurry to vote, perhaps due to mistrust of the data protection system. To participate in voting, confirmation of the owner's status using a private key is required, but the vulnerabilities found in the platform code have not been fixed and many investors are in no hurry to put their private keys on the line.

Calls from the organizers for active voting and the launch of voting live, have not yet given the desired results. Voting requires at least 150 million EOS and this is another reason for criticism. Users note that not everyone has free coins in their wallets and cannot participate in voting. The situation could be corrected by Block.one, which has a sufficient number of assets, but then the main principle of decentralization would be violated.

Such an unsuccessful launch of such a widely advertised network could not but affect the value of the crypto asset. Against the backdrop of a general decline in the crypto market, the delay and uncertainty in the launch of the network, which some experts have already called, if not a scam, then a greatly overvalued project, led to a significant decrease in the value of the coin. If on June 10 EOS was trading at $14.4, then at the time of writing its price is $10.17.. 

Today, about a third of users voted for the new network. It is unknown when users will vote with the remaining 100 million tokens.  The question of when the genesis block will appear on the EOS network remains open and has no answer yet.