EOS Blockchain Backup and Restart after

EOS's one-year Initial Coin Offering (ICO) ended last week, and after raising approximately $4 billion, Block.one finally launched EOSIO 1.0, the first and only version of Block.one of the EOS Mainnet software.

As such Block.one will not participate in the launch of the Mainnet, but other launch groups have taken snapshots of the blockchain so as to distribute the EOS tokens purchased during the retail phase to their owners in the Genesis block network.

Using the snapshots, a Reddit user collected data on wealth distribution within the emerging EOS ecosystem.

EOS Rich List/Genesis Snapshot Statistics from eos

Due to the complexity of registering tokens through the retail interface, many EOS investors chose to move their tokens to cryptocurrency changes prior to the snapshot to ensure that they received coins in the new chain. Consequently, many of the larger addresses belong to the exchanges. In addition, people may have registered tokens in multiple addresses.

With this important clarification, the wealth should be distributed among the addresses, but not necessarily among the users.

“The network will launch with 163,930 registered EOS addresses, all of which will hold a positive balance. For comparison, there are currently more than 22 million bitcoin addresses with a positive balance” according to BitcoinPrivacy.

A Matched Distribution?

At least 100 million tokens, or about $1.4 billion, are in the hands of Block.one, representing 10% of the total supply of cryptocurrency. Block.one has reiterated on several occasions that it would not contribute to the ICO, as this would essentially allow it to acquire free tokens, but it performed an independent audit to support these actions. The dates of this audit are yet unknown.

The top 10 richest EOS addresses have approximately 496,735,539 tokens, which translates into 49.67% of the total supply. To enter the top 10 you would need around 20,675,047 tokens, worth more than $280 million at the current exchange rate.

The first 100 addresses contain a total of 748,176,831 tokens, or 74.82% of the total offer. Addresses need at least 646,595 tokens ($8.7 million) to enter this level.

The top 1,000 addresses contain 858,120,383 tokens or 85.81% of the supply in circulation. All of these addresses have at least 42,941 tokens ($582,000). In the Bitcoin network, this group controls approximately 36 % of the money supply, and addresses the need for at least $11 million from BTC to qualify for this list.

The remaining 162,930 EOS addresses (99.4% of all addresses) contain only about 138,570,296 tokens, which is equal to 13.86% of the total supply, while current estimated 3.3 million tokens, or 0.33% of the total supply, remain unregistered.

Block.one justified the duration of its one-year ICO by stating that this would be the fairest symbolic distribution project launched on Ethereum so far.

Block.one CEO, Brendan Blumer, said:

“To ensure inclusivity, EOS are not sold for a fixed price, but sold at a price determined by market demand; these mimics mining and does not offer unfair advantages to large purchasers.”

A clearer picture of the distribution of wealth in the EOS network will emerge in the coming days from the stable launch of the Mainnet. Users will begin to withdraw their tokens from custodial wallets and hold them in wallets where they control the private keys. After it, we will know the conclusion about the community's satisfaction with the project.

[FREE] Get Our Best Crypto Trading, Mining & Investing Hacks:

*Action Required* Enter Your Email To Get Insight For Trending Coin News & Reviews

I will never give away, trade or sell your email address. You can unsubscribe at any time.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

13 + fifteen =