What is Behind EOS (EOS) Failure to Launch?

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Block.One's June 4th release date for the EOS (EOS) blockchain and mainnet has come and gone. The snapshot has been taken to ensure token holders get their tokens transferred to the new blockchain and investors eagerly await the hotly anticipated launch. There is a glaring issue with all of this, however... After a year-long development and ICO raising billions of dollars, EOS doesn't actually have a blockchain developed though you'd be hard-pressed to hear Block.One admit it.

Block.One is urging investors to remain patient as the launch will occur in "a couple more days". This was stated three days ago and little to no progress has been made, and  "a couple more days" seems to be Block.One's new motto as often as they are repeating it. The status of "testing" has remained unchanged. As early as May this year Block.One announced they were testing the EOS software on two blockchain candidates.

You see Block.One is not developing it's blockchain, they instead left that to the community. Now two rival groups of EOS-enthusiasts are racing to come out on top. Basically, it's a mess... As stated before Block.One developed the EOS software and upon viewing the repository on Github there are hundreds upon hundreds of issues. Out of all of these, not a single one has been resolved. Even the first issue opened dated April of 2017 is still open and unresolved. In other words Block.One has been testing a bug riddled software on two incomplete blockchains and haven't fixed any of the bugs or security issues they have found.

Wow this pizza is taking forever

 

It is unclear where EOS (EOS) got it's performance estimations from. The millions of transactions per second, 0.5 second block confirmation times, zero fees, and unlimited scalability seem much further from reality when you consider that none of their software works. Perhaps the notion of overtaking Ethereum (ETH) as the Dapp king is nothing more than a pipe dream. Right now it would take nothing short of a miracle for EOS (EOS) to do that.


Currently, the price is being propped up in hopes that the launch will be a success and the true underlying issues are being ignored. If EOS (EOS) can't pull off something spectacular, and soon, interest will wane and EOS goals will be that much further away. For now Block.One pretends nothing is wrong and they are testing their system insisting the launch will be any time. In my opinion, this is just another big red flag on an already crowded mast.

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I have received no additional compensation other than the Ethereum that Hade Technologies pays to produce Exclusive content

Comments (1)

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  • knifedag
  • ,  Contributor
  • 12 June 2018, 02:06 pm

note: this was published a tad late. EOS as of the 10th has \"Launched\" but is not live until they designate their \"producers\" by vote. How long that may take is unclear.

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