The world's fifth most valuable cryptocurrency is set to formally release its software this weekend.
First announced in 2017, the EOS project has been fundraising for nearly a year, raising a reported $4 billion in what many are claiming is the largest amount ever collected by a team creating a custom cryptocurrency. As such, the launch, expected for Saturday, has come with no shortage of hype.
The fervor around the unveiling is, in part, due to the diverse discussions long surrounding the project. As detailed by CoinDesk, EOS has long been a target of criticism for its vision and execution, though it has attracted advocates who believe it offers a decentralized alternative to the cloud hosting services that currently dominate the lucrative market for data storage.
With public trading for the cryptocurrency already well underway, all eyes are likely to be on the markets, in addition to technology forums, where token holders are already queuing up with questions related to trading, token registration, airdrops and wallet compatibility.
Clarity has been hard to come by, something that hasn't been helped by a lack of dialogue from those who have been most publicly associated with the project.
Nevertheless, the upcoming launch process is not wholly mysterious.
Most notably, the launch will begin 23 hours after the protocol's publisher, Block.one, makes the code available as open-source software. The release of the code, however, will be the extent of Block.one's involvement in the launch.
From there, a community of aspiring block producers -- various entities competing to act as validators in the network's delegated proof-of-stake system (dPOS) -- will subsequently pick up the baton as part of an elaborate process that appears unorthodox, even in the evolving world of new blockchain technologies.