Yes and no, it is a community Genesis bootstrap in progress.
It just became clear to me that the Block.One company just raised some capital of 4 billion US Dollar. Not bad for a start-up that is going to handle the development of the EOS software. And also the lobby plus marketing. The official version 1 of the EOS blockchain software was released on the 3rd of june 2018. While the EOS token on the Ethereum blockchain was locked and a snapshot was taken the day before. And although it is called the release of the EOS mainnet, like I did in a previous post, it basicly is the release of the first final software version. The one that would kickstart the real mainnet of EOS. But where is it? Is it even live yet? Well, at this point it is getting a little bit complex. Just like Steem uses witnesses to keep the blockchain going at 3-2-1:BLOCK-DONE, EOS uses 21 block-producers that do 1 block every half a second. But first an EOS main blockchain needs to be bootstrapped. Things need to be checked, like the EOS holder snapshot and so on. This whole proces needs at least a couple of days before the EOS mainnet can be considered live and enabled.
Just being activated is not enough. But as soon as the whole boot-up proces is successfully done things will take off for EOS. Sidechains can be launched, each with their own airdrop token, but still the main token on all of the EOS intertwined blockchains will be the same, that is EOS. At the moment of typing this text the whole bootstrapping proces is still complicated, or quite unfriendly for the majority of users. Therefore most of the EOS based projects will launch their activity up to 10 days after the mainnet got kick-started into existence. At this this it will be clear that there is indeed a main blockchain at the center core running EOS. And in a way this is almost working like an operating system on a computer. Except that this is a complex worldwide proces that takes at least 2 days to get off to a right start. Yet once the proces is running stable, through community efforts, it will be truly enabled, to be used by a lot of projects that are set and ready to go.
Well, this whole proces of getting this Blockchain Operating System Software {BOSS} really up and running, able to move substantive on its own, takes a while. And some might lose their nerves in this proces and start dumping their EOS on exchanges. It does happen, if not already happening. Fear, Uncertainty and Doubt {FUD} will further fuel this, I'm sure about that. Block.One does support this whole proces of booting up EOS {Extraordinary(?) Operating System}, keeping on alert for creating patches, helping out where needed, yet they will not produce any user interface applications and or websites. This is where entrepreneurs, projects and communities come in. While blockproducers take care of the kickstart proces, at some point EOS mainnet will be live and enabled. And then things should really become more clear and that is where people will register and activate their EOS, deciding what to stake and so on. At this point it might be difficult to be able to imagine what this will be like. Just like all these airdrops being announced, but how to get them and what can be done with them? Still until that time the price of EOS on the market might drop quite a bit.
At one point Block.One did become a multi-billion US Dollar worth company, that probably will take matter in their own hands if, for any reason, the EOS blockchain bootstrapping fails. Yet, their main focus is on further development and making sure it will get the right marketing. And then there might be issues with governments that they will do their best to solve, as I came to understand. Paying developers is one thing Block.One will take care of. Meaning smart minds will be putting their time and effort in improving EOS all of the time, while being sure of an income as long as they do. SteemIt Incorporated does in a way work like that. And as far as Steem goes, you and I can confirm that this actually works out. There is an incentive to move on and after EOS gives the signal that the bootup proces has finished, it will show what it is capable of. And that will probably attract more investors into the market. There is however never a guarantee that anything will succeed, it is hard to apply logic to these kind of things. Thus remember to only invest in Cryptos what you are willing and able to lose.
As a Linux computer user I am used to fast bootup times. If you have a SSD harddisk inside your computer, you know that even Windows can startup fast. With the Blockchain Operating System Software {BOSS} like EOS it is a bit more complex. As once it is started it needs to be able to run at high speed and keep moving in those blocks, every half a second! This means all the blockproducers need to be in sync all over the world, connected through high speed internet. And all the EOS tokens need to be implemented so every rightful owner will be able to claim them and any linked _airdrop_tokens. After that it is confirmed that the blockchain is running like it should, the other projects will go live. Meaning the users can get aboard and do what they want to do. Most of them do not even want to know what complex processes are running behind the screens, just like most will just want to drive a car and not be a top notch mechanic just to be able to do so.
Therefore, if this is going way over your head already just reading the title of this post, yet you own EOS, or want to be part of one or more project running on top of its motor, stay calm and relax. All we need is just a little patience.
The EOS portal, to keep an eye on.
Screenshot taken at http://www.eosportal.io/
