Lost In Tokenization: 65% of EOS Users Still Haven't Registered for Token Swap

Published on by Cryptoslate | Published on

EOS is set to launch its mainnet on June 2nd, but statistics from EOSAuthority, a block producer candidate in London, reveal that 65% of users have not registered their tokens for the upcoming migration.

Since release EOS has operated on the Ethereum networks ERC20 token, allowing the token to operate a groundbreaking one year long ICO to provide investors with greater availability.

The migration will see EOS move onto its separate dApp focused blockchain designed to facilitate a theoretical million transactions per second.

The EOS team revealed in a Medium post that worse case predictions place the network at 1,000 TPS, which is still a significant boost from the current 15TPS supported by the Ethereum blockchain.

The EOS back-end will be supported by 21 supernodes voted using the dPOS system of delegation with Bitmain's Antpool as running to be one of the networks official block producers.

In order for investors to utilize the new network, they must migrate their token from the Ethereum network to the EOS mainnet via a registration process.

Even though EOS has made the registration process fairly easy, statistics from EOSAuthority have shown that only 45% of EOS tokens have been registered.

There has been no official statement from the EOS development team as to whether unregistered tokens will be able to transition onto the mainnet at a later date, but community members have been working on a fallback solution.

"We encourage all users to complete registration and use a simple tool on our website eosauthority.com to confirm that you have registered successfully. The community is actively developing a fallback solution so that unregistered wallets will be registered automatically and claimed by converting an ethereum private key to an EOS private key."

While no one reasonably expects 100% registration of all EOS tokens, such a large portion of tokens locked out of circulation may cause a shift in the price of the mainnet token on release day.

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