Bancor’s LiquidEOS creates a standalone tool for block producers

LiquidEOS, an EOS block producer led by Bancor, has created a downloadable EOS voting tool to address a multitude of issues posed by the previous voting tool. Candidates for the role of validators or “block producers” [EOS’s equivalent of bitcoin miners] located all over the world have already voted “Go” to take the mainnet live, although the exact vote count has not been released by moderators.

Bancor is a decentralized liquidity network which allows a trader to hold any token and convert it to any other token in the network. There is no counterparty and the conversion is at an automatically calculated price, using a simple web wallet.

Bancor’s aim is to enable anybody to create a cryptocurrency, and for these currencies to be continuously and efficiently interchangeable. This will drive a global liquid network. The goal requires lots of robust blockchains that can process a large number of transactions and dApp interactions for users all over the globe.

The voting used ‘Scatter’, a popular EOS wallet and open source tool that can sign transactions using a private key without ever exposing it. However, it did not receive an ‘official endorsement’ from the community as a safe voting tool. Some users reported an error message prompt, saying “No accounts were found connected to this private key. If you want to import a key which is not generated by Scatter you will need to create an account for the key before importing it.”

The new EOS voting tool that was announced also uses Scatter, but the voting process that requires a transaction to be signed, is signed locally and then this transaction is executed on the blockchain, thus registering as a ‘vote’. The vote for Go/No Go was almost unanimous, but as already mentioned the final count has not been released.

The alternative downloadable EOS voting tool may be used for any of the other upcoming voting processes, for example, a vote called about a software update can use this tool, or may use a web interface for voting. The web voting interface also uses Scatter, but it runs outside the browser, thus being out of the sphere of influence of bots, extensions, and toolbars.

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