When the EOS mainnet launches in less than 40 days, there will be no mining, no large-scale farms guzzling electricity. Blocks will still be produced with cryptography that is unbreakable - however, the presence of entities who run nodes and provide the hardware also means the EOS system would be partially centralized.
https://twitter.com/bitfinex/status/988480868707651584
The EOS candidacy process has been underway for a while, and for the outside observer, it is confusing and rather obscure. The full list of candidates is still unknown. So far, big players in the crypto space - Antpool, Bitfinex, have become the most prominent candidacies. Other organizations, with diverse geographic origins, are cropping up, and their offers as block producers resemble any political election.
https://twitter.com/AntPoolofficial/status/987548447850008576
Contentious issues such as spreading the block reward to the community, and whether this is in fact a form of kickback, are making the campaign more complicated. There is also the race for offering powerful computing resources. Others simply rely on their status as whales, or their geographic position to rile the local community. Some node candidacies are based on a feeling of national belonging, such as Canadian or Indian node candidates.
https://twitter.com/eosnewyork/status/988528052895408128
There is a third breed of candidates - those who view the node status as a chance to collect as much EOS as possible, and redirect it to dapp development projects.
Right now, EOS backers, potential users and token holders are still testing the system. To make sense of the ever-growing list of block producer candidates, a specialized service site is available. But the voting itself is only in the simulation stage.
Choosing block producers in the simulator happens over a two-day period, which locks the EOS tokens used for voting.
The rules are as follows, according to the BigOne service:
- Voting won't cost you any EOS, but will lock your EOS tokens for the period of this event. After the voting is completed, EOS will automatically unlock.
- 1 EOS token = 30 votes, but each token cannot vote for the same candidate twice.
- If you change your mind, you can click the "Reset All Votes" button to unlock all your EOS. At the same time, all votes in this account will be deducted.
The voting process is creating significant hype around the EOS ecosystem, affecting the price and increasing the speed of the current rally. However, the process may turn out to raise more difficult questions about EOS in the coming months.
A similar election process may affect the fate of TRON, where instead of block producers, the community would be voting for super delegates.
This article appeared first on Cryptovest
