Several interesting developments on the EOS front this week as the smart-contract platform attempts to move towards a mainnet launch.
As Eric Wall writes, the initial 21 Block Producers (BPs) were supposed to be elected in a democratic fashion by EOS token holders. The question on everyone's mind was how to go about conducting an open, democratic voting process on a blockchain when no BPs have been elected by token holders yet.
All eyes on EOS this week as the firm behind the software production, Block.One, has finally released v1 of their open-source protocol.
Despite developing the software and coordinating the ICO, Block.One will not actually be responsible for launching the platform: instead, they will encourage a set of block producers (BP) to coordinate the launch amongst themselves. This is already proving difficult, as there will only ever be a set of 21 BPs, each who stand to make $9.7m per year at a cost of $500k. As a result, it seems likely that multiple EOS chains will be launched, which might well cause some brand confusion.
Leading crypto asset exchange Coinbase acquired Paradex, a 0x relayer, this week.
Paradex was one of the first 0x relayers to launch on mainnet earlier this year, although its volume pales in comparison to that of competing relayers, DDEX and Radar Relay.
Brian Venturo, CTO of Atlantic Crypto, published an analysis of the economics of Casper FFG, Ethereum’s hybrid Proof of Work/Proof of Stake consensus mechanism.
Applying the Black-Scholes model, Venturo surmises that staking under Casper FFG, which has a 4 month withdrawal lock-up, would have to yield roughly 26% annual interest in order to be a suitably risk-adjusted investment — in its current instantiation, Casper FFG promises ~5%.