EOS’ mainnet launch was long-awaited with a lot of excitement by EOS holders and all crypto enthusiasts, but it did not get a green light, unfortunately.
An official “no-go” was announced for EOS’ mainnet launch following a Block Producer’s (BP) vote that was held on June 6. The event got pushed back by minimum 24 hours.
What’s even worse news is that probably the next vote which is supposed to take place today will also have the same outcome, at least according to expert voices in the field.
Current situation of EOS
EOS tokens were frozen on June 1, just before of the official EOS network launch. The EOS Mainnet Launch Group (EMLG) hade to make sure that the launch was flawless – secure and seamless.
Unfortunately, a few days before the launch was set, latest news had announced that critical flaws were found in the network. EOS was aware of these flaws, and at that time most of the vulnerabilities had been already patched. EOS tweeted about this:
Media has incorrectly reported a potential delay in the release of EOSIO V1 due to software vulnerabilities. Our team has already fixed most and is hard at work with the remaining ones. EOSIO V1 is on schedule; please stay tuned to our EOSIO channels for official information.
— EOS (@EOS_io) May 30, 2018
As you can see the team mentioned “most” of the bugs, which definitely implies there are more. So, due to the remaining vulnerabilities, the mainnet was not launched.
The EMLG Team has been working day and night to fix all the issues and in an official statement that say that they choose not to provide more details on the remaining vulnerabilities. They are not estimating how much time it would take to fix these either.
EOS initiates the Bug Bounty Campaign
Just after reporting that the mainnet is haunted by flaws, the EOS team started the Bug Bounty Campaign which shows that they want to be extra careful regarding the security’s network.
Guido Vranken, ethical hacker, managed to spot eight vulnerabilities in a single day and the number eventually grew to 12. The hacker won $120,000 in bug bounties.
But as there were at least 12 flaws found in the network since May 30, people need to learn which of these are blocking issues and how many show a smaller threat to the network.
EMLG has not committed to a precise launch date because they say such a thing would be irresponsible on their part. We’re expecting the next update on the situation to arrive in about 24-48 hours.