EOS Gears For MainNet Launch but Token Registration Lags

EOS is amongst the biggest price gainers today, but the project risks losing half of its community

by Kyzmoff
25 May • 2 min
In News

EOS, a cryptocurrency and a blockchain operating system for commercial-scale decentralized applications (DApps), has been enjoying a stable price growth recently, outperforming most other digital coins, ahead of the launch of its mainnet at the beginning of next month.

EOS stroke an all-time high less than a month ago, on April 29 at USD 22, on the anticipation of the main network launch, but recent pressure on the crypto market has affected its performance. However, the price seems to be recovering on Friday, hovering around USD 13, over 10% up for the last 24 hours, being the fifth largest crypto at the moment.

Currently, EOS is an ERC20 token built on the Ethereum blockchain, but the June 2 mainnet launch should see EOS and Ethereum split and EOS become an independent token on its own blockchain. The coin, developed by renown crypto pioneer Dan Larimer, will adopt the Delegated Proof-of-Stake (DPOS) technology consensus mechanism, where only elected witnesses can produce blocks and validate transactions.



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Token Registration Lags

But while trading volumes are exploding and the coin price is growing, EOS developers are worried that investors are unaware of the fact that the old ERC20 EOS tokens will be frozen if not registered on the EOS website by June 2. According to recent reports, over 50% of the tokens are still not registered. The window is closing down for the swap as there is less than a week and it will hardly be beneficial for the EOS team to lose half of its user base.

Famous programmer and crypto enthusiast John McAfee predicted earlier this week that EOS will reach USD 32 by the end of July, which implies a 300% price growth. But whether the crypto will reach these levels or not would be irrelevant if the project loses half of its community due to a mistake in the marketing approach.

 

If you are an EOS investor, go register your tokens before its too late, or you might miss the wave.