Who will actually be forming the EOSIO blockchain?


#1

In the latest community announcement, Block.one are reminding us all that they are not the ones that will actually run the EOSIO blockchain and will not be the ones responsible for the transfer of the ERC-20 tokens into coins on the new platform(s).

Presumably it will be up to potential block producers to collaborate to create the new network. But who is going to be responsible for getting the snapshot of ERC-20 tokens onto any new network? What will that process look like?

Anyone here know?


#2

As far as I understand - and my understanding is based mostly on Thomas Cox’s medium post - there should be a BIOS Boot node, which will presumably appoint 21 block producers, who will then initiate the voting. It appears that the first node to do this will launch a mainnet candidate, which will have to attract 15% of token holders to legitimize the mainnet, presumably by voting for BPs.

It seems possible to have two or more BIOS Boot nodes launching a mainnet and possibly hitting the 15% treshhold. This could conceivably lead to multiple chains - something like a fork though not quite as the two chains will have different genesis blocks, so more like two independent chains built on the same codebase (which could diverge over time if block producers choose to install different updates). In this case token holders should end up with coins on from both mainnets on the same address, in much the same way as with the Bitcoin hard forks. Then there is the question of which chain will wallets support, you might need two different wallets to access the two chains.

But let’s not get too distracted with hypotheticals and focus on reality - there are some pressing concerns about the launch even if we ignore the possibility of multiple chains. I’m personally keenly interested to know:

  1. Are my conclusions above correct?
  2. How does the voting process work?
  3. How can we follow events around the launch in real time?

Then there is the matter of choosing the block producers. EOS Go have compiled a list and even launched a website (sorry can’t link, new user).
However, their criteria are mostly about presence of a website, contact information and the like and haven’t done much to evaluate the candidates’ reliability. I’m personally keen to trust Bitfinex with this but are there 20 more credible BPs in these lists? I hope the community puts on their thinking hats and vote sensibly; judging by what people tend to do at ballot boxes - I’m not wildly optimistic about it :slight_smile:


#3

That is a good comprehensive list, although some I’ve heard of don’t appear to be on it. Still, I haven’t seen such a long list before. Thanks for sharing!

Previously the longest I’d seen was:

I don’t think we will know who is reliable until we have the metrics to see who is performing well. Also I notice they have two columns in that chart unfilled, ‘BP Roadmap’ and ‘Position on dividends’.

Initially we will have to use our judgement based on how we see the teams in terms of their past projects, and other factors.


#4

EOS Go made this great set of videos about what the launch may look like.

As far as I understand there will be a group of BPs just connecting together and pick some random BPs to be the first 21. But about 15% of all EOS-tokens need to be used in voting to make the blockchain be valid.

With currently over 120 BPs waiting I wouldn’t be surprised if we indeed see several different networks. But there probably will we one we all call the “real” EOS network.