The EOS project has two days to go to the mainnet launch, and by now, users should have registered their balances and performed checks to see if the registration went through successfully. On the official Eos.io site, the recommended registration tool should grant EOS addresses derived from the public Ethereum address of the token.
https://twitter.com/EOS_io/status/1001267030182449152
At the moment, EOS tokens are held on more than 370,000 addresses. Currently, the token shows increased activity to move the tokens to exchanges, one of the preferred methods to go through the freeze and receive a balance of new EOS digital assets. OKEx recently announced support for the token swap, planning to freeze EOS trading on May 31 in preparation for the network launch.
EOS is sinking along with the markets, while some believe an attempt to prop up the coin caused a dumping of Ethereum on Bitfinex. EOS sank by more than 8% overnight to $11.74, losing a net 10% this week, as trading remains surprisingly robust. Just ahead of the mainnet launch, Binance opened up trading against Tether (USDT) and Binance Coin (BNB), potentially increasing liquidity for EOS.
!EOS!
While EOS is certainly a high-profile project, some believe volumes may be artificial, dependent on Bitfinex and the support of USDT. EOS is also paired with ETH tokens, and the ongoing daily ICOs mean that Block One has tens of thousands of ETH each day to prop up the price. EOS is sending some jitters on the markets, potentially triggering other ICOs to try and sell their ETH before the price falls too low.
The Eosio upcoming mainnet and operating system is considered the next level that would make Ethereum obsolete. But for such a large and well-padded project, the EOS network will not be without risk. Recently, Daniel Larimer, the founder of EOS, but also Steemit, announced a bug bounty campaign:
https://twitter.com/bytemaster7/status/1001228283843895296
Days before the mainnet launch, the opinions on EOS are still split. Some believe the system of 21 block producers is too centralized. Others see EOS as legitimately displacing Ethereum, while continuing to actively try to suppress its price, as much as the EOS funds allow.
Recently, Rhett Creighton, developer of Bitcoin Private (BTCP) and Bitcoin Prime, has joined the hype for EOS:
https://twitter.com/HeyRhett/status/1001190901002178560
One of the sources of enthusiasm for EOS would be the upcoming airdrops, expected when distributed apps join the network. The community is already preparing to reap the benefits of EOS-based tokens:
https://twitter.com/eosforumorg/status/1001203886278041601
However, EOS will have to prove itself first, as well as elect block producers and show the mainnet is actually working well enough to support distributed app projects.
This article appeared first on Cryptovest