You may have missed it, but over the weekend, transactions on the live EOS blockchain came to a complete – yet temporary – halt.
Coming less than 48 hours after the much-anticipated blockchain network went live, the announcement kicked off a social firestorm (not to mention a reported 5 percent drop in the value of the network’s cryptocurrency).
Some background: the EOS launch, reported last week by CoinDesk, came at the end of a topsy-turvy period illustrated by last-minute code tweaks, an elaborate election of entities tasked with creating the network’s transaction blocks, and, of course, the $4 billion EOS token sale.
So, it came as a surprise to some that the network would run into enough trouble that it triggered a failsafe network freeze. And unsurprisingly, critics of EOS were quick to pounce.
However, in the fast-moving world of crypto, there was already damage done to the network’s reputation.
That’s not to say that EOS didn’t have any commentators – or outright supporters – going to bat for it during the weekend debate. From a more supportive perspective, the weekend stoppage was seen largely as a growing pain and a symptom of a network controlled by no single entity, still getting its bearings so soon after…