Block.one plans to start voting actively for EOS block manufacturers within the next month. The Cayman Island-based development company announced Wednesday that, having seen the development of EOS over the past two years, it thinks the time has come to step off the sidelines and start actively contributing to the network.
A decision that can no longer be postponed
In the last period the EOS blockchain is congested and for this reason the discontent, especially of users with less EOS in stake, has started to spread asking Block.one to intervene in this regard, because the situation is becoming unsustainable. Block.one's response was not long in coming, and a post was released this week with the company's new plans.
“Hundreds of BP (Block Producer) and SBP (Standby Block Producer) have contributed a huge amount of code, knowledge and leadership. Initially, in the coming weeks, we plan to use our vote to highlight and vote for many of these candidates, potentially also in rotation, to show the results, values and contributions of the network by these organizations, "said the post referring to block producers and reserve block producers.
Block.one has been postponing this decision for a long time, exactly a month after the launch of the network in June 2018. In a post in July of that year, the company stated that it would vote for the block producers, but this is not never happened.
Block.One has announced its concrete intention to start participating in governance in November. At the time, the company said it wanted to play a "proportional role" in suggesting new proposals and in supporting projects and teams that contributed to the overall health of the network.
Block.one is in a potentially decisive position
Following the $ 4 billion Initial Coin Offering (ICO), Block.one has allocated 10% of the total EOS token (EOS) offering. But its quota it slowly declined when new EOS tokens entered the ecosystem by BP validating new blocks. Eighteen months after the ICO, in November 2019, the company's share had dropped to 9,5%.
As of press time, the most widely supported EOS block manufacturers have support from 2,67% of voting EOS tokens. Block.one's control of 9,5% of the total offer means that its support could potentially be decisive for any block manufacturer.
In Wednesday's post, Block.one said it would start playing an active role by vocally supporting BPs who have already added code and will support block producers who "adhere to the standards we want to see at the network level," said the society.
"Block.one believes that staking systems will be a fundamental component of the future tokenized economy and to ensure maximum network security and constructive participation, Block.one will begin to stake and vote for its position as an EOS token," added the society.