The EOS Classic project is moving fast, planning the official launch of the proof-of-work mainnet for June 9, opening up to GPU miners initially. The Ethash-based digital asset boasts of being a “classic integration of EOS & ETH”.
https://twitter.com/eosclassicio/status/1004325251667226629
At the moment, a block explorer shows activity on the EOS Classic network, but apparently, this is not the expected network coming in three days. A day ago, EOS Classic announced it was live on mainnet, although there is no announcement on who would actually become a block producer. The Reddit community also remained highly skeptical of EOS Classic.
There is an alternative team working on another EOS Classic parallel launch, that has nothing to do with the first tea. In theory, nothing stops anyone from using the EOS code.
What makes EOS Classic different is its reliance on 105 block producers, instead of only 21, as EOS is engineered. This number of producers is close to that of Lisk (LSK), an already operational system using verification.
The distribution of EOS Classic assets is somewhat dubious: it is unknown if exchanges would credit the balances, as they have promised to credit the balances for the official EOS blockchain. According to the rule, not all EOS token holders would get the new asset:
“Only the holders that have 100 or more EOS tokens at the time of this snapshot can receive the airdrop. EOSC airdrop will have snapshots of your EOS ERC20 token at June 3, 2018, 7:00 AM GMT+9.”
The distribution of EOS initially was intended to build the portfolios needed to become block producers. The equipment to secure the EOS network is not trivial. However, in the case of a mined coin, the network is available to small-scale GPU miners.
Additionally, EOS Classic would actually be accessible to the Ethash ASIC miners coming soon. It is unknown if the same entities that wanted to produce blocks for EOS would allocate resources to EOS Classic. There is also no telling when the EOS Classic asset would be traded on exchanges.
In theory, right now, many teams could start running the code for EOS. Owners are urged to wait out the initial events, and not import private keys, or expose them in any other way.
But previously registered block producers, who are known to the community, have been communicating and attempting to arrive at a consensus on building the real chain, with undisputable balances.
This article appeared first on Cryptovest
