On November 13, EOSIO software developer Block.one released on the official blog "Block.one will begin voting for the EOS public blockchain upgrade." Block.one will vote to support the EOS public blockchain upgrade. At the same time, we will openly participate in community dialogues and share and comment on ideas and suggestions that we believe can actively improve the governance, performance and overall competitiveness of the EOS network. Block.one said its current circulating EOS tokens currently account for less than 9.5% of the total (according to CoinMarketCap data, EOS currently has a market capitalization of $3.24 billion, 9.5% is approximately $304 million). This number continues to decline as inflation generates new tokens and is used to reward elected block producers of operational and operational networks.
The following is the full text of the announcement issued by Block.one:
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"Block.one will begin to participate in the EOS public blockchain upgrade vote"
To the EOS community:
In the past year and a half, we have seen many public and private areas developed using Block.one's EOSIO software, an open source blockchain protocol licensed under MIT, free and unrestricted. The emergence of a blockchain. With unprecedented speed, scalability and cost efficiency, EOSIO has been adopted by governments, businesses and entrepreneurs around the world as the software of choice for high-performance distributed database architectures.
It is worth noting that the EOS public blockchain initiated and operated by 21 elected block producers has become the world's largest public high-performance smart contract network. Today, it can perform more than 5,000 actions per second, accounting for the majority of the world's leading public blockchain activities. Its block time is only 0.5 seconds and does not require users to pay transaction fees to use their hosted apps. All of these metrics represent a transformational upgrade to existing solutions and will continue to lead the industry.
As an improvement to the Proof of Work (PoW) blockchain (usually managed and controlled by a few mining organizations and highly environmentally demanding), EOS block producers are elected by millions of accounts worldwide Produced and can be replaced at any time by the majority of the vote. And provide the highest performance output with the least energy demand. This makes EOS an incredibly efficient public network and more directly links the interests of token holders to network governance than ever before.
As EOSIO software continues to evolve with new versions and advancements in technology, opportunities to improve EOS governance to better tune and optimize network functionality, geographic distribution, and security have increased.
As a small but important EOS token holder and a prospective EOS public blockchain user, Block.one holds less than 9.5% of the circulating EOS tokens; new tokens are generated with inflation And this is used to reward elected block producers in the operational and operational networks, and this number continues to decline.
Since June 2017, Block.one has observed the network operations and governance of many public blockchains around the world to understand and learn how to maximize performance, alignment and reliability. Now, we are ready to begin to play its due role, with a focus on continuing to support the health upgrades of the EOS network to achieve iterative improvements in these goals, while global regulators emphasize the goal of maximizing decentralization.
Block.one will be open to the dialogue and share and comment on ideas and recommendations that we believe can actively improve the governance, performance and overall competitiveness of the EOS network. Our goal is to highlight improvements and capabilities that we believe can maintain network integrity and take these metrics to new heights. Eventually, we will begin to participate in block producer voting to more actively join other EOS token holders to ensure that the EOS network remains as healthy and revolutionary as ever.
We appeal to all those who wish to contribute useful ideas for public consideration to use the #EOSGOV tag on social media to engage the public in the ideas and perspectives of EOS's public blockchain governance best practices, so that different ideas can be offered to voters around the world. And suggestions to iterate and develop the EOS network.
The power of open source collaboration is at the heart of Block.one's identity and mission, and the enthusiasm for progress in every corner of the EOSIO community continues to exceed our expectations, fueling our efforts and inspiring our team. We are excited to join the EOS community to more actively promote the iterative development of public blockchain development and look forward to continuing to collaborate to break the boundaries of distributed innovation.