EOS Token Registration: Will EOS Holders Remain Locked Out? - Cryptovest
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EOS Token Registration: Will EOS Holders Remain Locked Out? May 16, 2018
The EOS project is approaching its mainnet, but many unknowns remain before block producers take up their positions.
The EOS ecosystem is launching soon – but there may be EOS buyers and believers out there who may be left in the cold. Despite the great technical promises of the EOS network, no one from Block One, or another team, has promised to make a snapshot of the Ethereum network.
Hence, users will either have to move their ERC-20 tokens to an exchange, or register their balances. Missing to do that could lead to losses, and a vast amount of EOS tokens becoming worthless. Some believe the hype for EOS may turn to panic if this happens.
The EOS team has given indications that in the future, users with unregistered coins may have an alternative way to acquire an EOS private key with their balance, but it may take a long time, leaving coins locked. EOS registration is open through the Exodus wallet. So far, there are no reports of third-party services stealing Ethereum private keys during the registration process. However, users are urged to use the official registration tool to receive their EOS private keys.
The EOS market price was somewhat shaken down in the latest market downturn, where most assets wiped out around 10%. EOS sank by more than 12% to $12.47, despite expectations that the new bull run could take it as high as $30.
The current market prices have slid below the auction price in the past few days. With less than 25 daily auctions remaining, some see EOS sliding to $5 due to loss of enthusiasm, and the loss of the daily auction effect.
On a positive note, the EOS founder, Dan Larimer, recently tweeted that the project received advice on algorithmic solutions from Ethereum’s Vitalik Buterin:
The involvement of Buterin is strange, given that the EOS project has long presented itself as an “Ethereum killer”. Until the network of 21 block producers starts working, there is no telling how well the EOS project unrolls, and what technical challenges will be met. ...