Bitfinex users become the first ones to deposit and withdraw EOS tokens after the Token moved out of ERC20 blockchain to its own MainNet, EOS.IO. On June 1st, 2018 Block.one, the company behind EOS, distributed the last block of EOS token on the Ethereum blockchain after which all EOS tokens were frozen and the transfers of tokens were disallowed. The official announcement can be found here.
EOS holders share the excitement
As the first user received his EOS deposit address on Bitfinex, the message was clear the Exodus to EOS.IO was complete enabling EOS deposit and withdrawal. Covering the first user reviews that came out gives us an interesting insight into how the MainNet is phasing out. Some prominent things to note were, EOS withdrawals from Bitfinex are completely free. Other important things that user noted were that the blockchain was blazing fast and needed 25 confirmations for the block to be created. It was also noted that test deposit had over 1000 confirmations on the blockchain before it hit the “25” required on Bitfinex’s end. It took around 15 minutes for Bitfinex to credit the deposit
According to Blockchain EOS tracker stats, there are only 2519 EOS in the blockchain as people are not yet aware they can sell now. It also showed that no one had used the address yet.
With this launch, all the uncertainty around its launch seems to be subsided as this was the first time a company had expressed to launch a blockchain and there was no guarantee that a new blockchain will be launched and would function flawlessly
The successful launch EOS mainnet will now be considered the first step toward a new generation of blockchain technology that will fundamentally affect how we interact with one another.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.