EOS Launch: Dan Larimer Says Network Will Have No Vulnerabilities

EOS has two days to go until the token freeze, once again urging users to register if they have not done it.

by
Christine Masters,
30 mins ago

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The EOS network launch is coming within two days, making a last call to anyone who did not register balances to hurry up and do so. It seems everything is ready for EOS to demonstrate it is indeed an innovative network.

The recent news that a Chinese research team found fatal flaws in the EOS protocol were dismissed as FUD, attempting to attack the image of EOS. Dan Larimer himself denied the rumors, stating that the EOS ecosystem was safe to launch.

Dan makes it clear: No delay for 1.0 version of EOS... pic.twitter.com/Nmv0AdV61Z

— EOS Community Forum (@eosforumorg) May 29, 2018

However, the EOS operating system and network have announced a bug bounty for faulty smart contracts - meaning that even for EOS, expensive surprises may be in store, similar to Ethereum. Despite the claims that the bugs were fixed, a system like EOS going live may not happen as smoothly as predicted. Dan Larimer is set to have more critics in the coming days:

Raises $4B, offers to pay only $10k for catastrophic bugs 2 days before mainnet launch. Strange. 🤔 And quite a few other concerning issues with EOS. See: https://t.co/C4HypNFet5

This will also be one of the biggest ERC20 token to blockchain launch. Should be an exciting day! https://t.co/Ey7mF10Dry

— Charlie Lee (@SatoshiLite) May 30, 2018

Ahead of the launch, the market price of EOS inched upward, steadying to $12.28 after dropping below $12 a day ago. As always, EOS is supported by Asian trading, with a hety share of Tether (USDT) influence. Three daily auctions of EOS remain, taking the entire EOS haul to the equivalent of around $4 billion, even at current Ethereum prices.

As it is usual with big news surrounding coins, EOS may be sold off after the mainnet launch. On May 31, there will be a brief freeze of trading to test the network.

1/ Most don't know this but every tx in $EOS must include a hash of the EOS Constitution.

This binds users to the constitution and failure to include it may be grounds for invalidating a tx. 🤦‍♂️

Here is the most recent draft: https://t.co/O46lCbAHbW$BTC $ETH

— Jacob Franek (@panekkkk) May 30, 2018

More eyes are focusing on EOS, and garnering criticism. It may turn out that the EOS system is quite complicated and arcane, including a human element. EOS has a centralized, written constitution, a code of behavior drafted by Block One, in a way working against principles of decentralization, where separate actors have incentives to support the network. Instead, EOS issues the rules and laws top-down.