Block.One, the distributed ledger technology (DLT) giant in charge of EOS (EOS), a multi-billion dollar blockchain project, has announced plans to start participating in ecosystem voting starting from May 2020, as part of efforts to support Block Producers (BPs) and Standby Block Producers (SBP) that have contributed immensely to the growth of the network since its launch in 2018, according to a blog post on April 8, 2020.
Block.One to Begin Voting
In a bid to show support for Block (BP) and Standby Block Producers (SBP) that have worked hard over the years to ensure the continuous growth of the EOS network, Block.One has announced plans to finally start participating in voting with its token holdings.
Notably, Block.One allocated about 10.5 percent of the entire EOS (EOS) supply to itself following the network’s highly controversial initial coin offering (ICO) that lasted for a year, generating a massive $4 billion.
As stated in its blog post, Block.One plans to start exercising its voting rights from May 2020 and evolve its voting approach over time, adding various criteria that will ensure that BPs and SBPs who receive its vote will keep adhering to the set standards.
“EOS governance exists today as a highly balanced economic and technical ecosystem. Block Producer (BP) and Sandby Block Producer (SBP) candidates make an ongoing bid for votes to participate in consensus and as a reward, they receive EOS tokens. Since the EOS network was launched by the public and it’s founding BPs, hundreds of BPs and SBPs have contributed a huge amount of knowledge, code and leadership. We are now ready to use our voting stake to highlight and vote for these entities to showcase their immense contributions and achievements.“
EOS Foundation in the Pipeline
Notably, Block.One has hinted that it’s Public Blockchain Engagement (PBE) division, a platform created to function as a bridge between the company and public blockchain communities, is currently collaborating with other organizations and carrying out research that will enable it to formulate the best model for a potential EOS Foundation.
The team says if all goes as planned, the EOS Foundation will be crafted to promote the ethos of blockchain technology such as decentralized collaboration, transparency, security and more.
In related news, BTCManager informed earlier in March 2020 that the EOS Worker Proposal (WPS) introduced by top BP, EOS Nation has passed the first stage of implementation.
Like BTCMANAGER? Send us a tip!
Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4