The recently launched blockchain EOS resumed its work today, June 17, after a “pause due to technical problems” on June 16. The EOS network monitor now shows that the EOS (BP) network blockchain validators – the equivalent of the miners in the bitcoin network – are processing “right now”.
Yesterday, several sources reported a problem in the main EOS network, which led to a “freeze” of network operations in less than 48 hours after the official launch of the network. The blockchain was launched a little less than a week after the candidates for the EOS validators voted to start work on Saturday, June 9.
The Telegram channel, dedicated to monitoring the status of the EOS network, reported yesterday that “after a pause, blockchain validators and many backup nodes held a conference to detect and fix the problem.” About four hours after this, Telegram announced that the main network was running.
As for the “pause” on Saturday, the creator of Dogecoin and crypto commentator Jackson Palmer wrote on Twitter:
“EOS blockchain was shut down for 5 hours a few days after the launch due to an error – until then the centralized company (Block.one) did not release the patch for the validators. … and this software had funding of $4 billion.
The software worked as it was designed. When problems were found, the blockchain unit was suspended, and the validators were mobilized immediately.”
On June 1, EOS completed its annual Initial Coin Offering (ICO), collecting about $4 billion, having conducted the largest public ICO to date. According to CoinMarketCap, EOS is currently the fifth-largest cryptocurrency, with a market capitalization of $9.4 billion. At the time of printing, the tokens are traded at $10.53 and the change for the last 24 hours is 0.5%.