June 24, 2024

Bree Bolender

Tech Advancements

The EOS blockchain is finally online

Introduction

The EOS blockchain is finally online, after a long and arduous road. The mainnet launch has been in the works since June 2018 and was originally planned to go live on January 1st of this year. However, due to security vulnerabilities found in the code, developers were forced to push back the launch date by several months.

The launch of EOSIO 1.0 has been a long time coming.

The launch of EOSIO 1.0 has been a long time coming. It’s the first version of the EOSIO software released by Block.one, and it was released on June 2nd, 2018. After months of testing and debugging, this new blockchain platform is now available for developers to download from GitHub. The final step before launching its mainnet will be to update its software with all those changes that were made during testing–but once that’s done (and assuming no more bugs are found), EOSIO 1.0 should be ready for action!

The first mainnet block was mined at 15:48 UTC, June 2nd.

A block producer is the entity that verifies transactions and adds them to the blockchain. In EOS, there are 21 block producers: 20 elected by token holders and one that is automatically assigned as backup.

The first mainnet block was mined at 15:48 UTC, June 2nd. It was number one million, so it’s not like they just started counting up from zero again or anything silly like that!

Phase Two of the EOS mainnet launch will be the beginning of a new era for blockchain scalability and usability.

Phase Two of the EOS mainnet launch will be the beginning of a new era for blockchain scalability and usability.

As the first platform to achieve consensus via Delegated Proof-of-Stake (DPoS), EOSIO 1.0 will provide users with an operating system that can support millions of transactions per second, eliminate user fees, and enable horizontal scaling across multiple blockchains. This means that you’ll be able to interact with any smart contract on any chain within one single application–and it’s all possible thanks to Phase One’s work on interchain communication protocols like EOSIO Inter-Blockchain Communication (IBC) & Account Authority/Authentication Framework (AAAF).

Block Producers are working hard to ensure that transacting on the network is as easy as possible for users.

Block Producers are working hard to ensure that transacting on the network is as easy as possible for users.

Transacting on the EOS blockchain is 10 times faster than Ethereum at this stage, thanks in part to its delegated proof-of-stake (DPoS) consensus algorithm and unique architecture of horizontal scalability. DPoS allows for parallel processing of transactions, which makes it possible for EOSIO 1.0 to scale much more effectively than other blockchains that rely on proof-of-work (PoW) or Proof-of-Stake (PoS).

Users can now transact on the EOS blockchain in seconds, which is ten times faster than Ethereum at this stage.

The EOS blockchain is finally online, and users can now transact on the network in seconds, which is ten times faster than Ethereum at this stage.

The main advantage of EOS over Ethereum is its scalability; it’s able to process thousands of transactions per second (TPS), compared to Ethereum’s 15 TPS. This makes EOS more suitable for large-scale businesses looking to use blockchain technology. It also makes sense as an infrastructure platform for decentralized applications (dApps).

Ethereum’s developers have been working on improving their own TPS rate through sharding and other solutions, but they’re still far behind what EOS has achieved so far–and there’s no guarantee that these technologies will work as planned in practice either!

Conclusion

At this point, it’s clear that EOS is a project with massive potential. The team behind it has been working hard for years and we expect great things from them in the future. If you’re interested in learning more about EOSIO 1.0 or getting involved with their community, check out their website at https://eosio.org/.