The History of EOS. Part 2

attic-lab (43)in #eos • 6 years ago

ICO details: EOS turned out to be one of the most successful ICO chains that was developed for a year or so and finally crafting its own smart chain. While launching and selling the native EOS currency, called tokens, token price was not set, but tokens were fixed on Ethereum. The price was calculated by the market and dependent on the demand in the current block at that very moment. The first stage of the ICO lasted in the last decade of June and more than $170mln were raised during that short period. The second token trading stage in July 2018 was focused on selling 2 mln EOS tokens with availability through the most popular exchanges Binance, Bitfinex, EtherDelta etc.

Tech development followed the roadmap precisely and underwent testing in a public environment.

However, the Chinese company Qihoo 360 accidentally discovered the total platform vulnerability. EOS developers who announced the delay in launching due to the crucial reasons sent the info: the system was vulnerable to the node activation attacks, that meant all the nodes might be hacked with a possible takeover of the platform. The vulnerability was overcome as well as EOS tokens rates declination mainly due to the problem elimination before the run.

Talking of the negatives through the way.

According to some community sources, some of the very first Block Producers were self-appointed. After a month in a run, some temporary crash affected the platform. The comments given were divergent, a human error, ram-associated problem or the unnamed fault of the hardware were provided. After all, some ram storm happened & hyped all the ecosystem. As an immediate result, the overreaction by the devs caused RAM-huge demand to reserve resources for the project. Nevertheless, that drama makes to jump into the nitty-gritty details and oversee that side. To reduce the issue, more RAM availability was set for increasing by special agreement. Current EOS situation gives much promises to the future while in essence much attention is paid to Governance issues.

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