Who do you trust with your private key?
That’s the question that may be on the minds of EOS token holders, who while incentivized to help the much-anticipated technology finally go live, haven’t yet done so. As EOS is set up to enable self-governance by its users, it’s these individuals and companies who have to make the first move, electing who they’d like to process transactions that occur on the network in an elaborate global vote.
But at the time of writing, they haven’t exactly done that. Rather, EOS’s blockchain is locked in a middle ground between “launched” and “live” that rests on the willingness of users to complete that process.
The issue is that, to vote, users have to prove they hold their tokens, a process that requires the use of their private keys, sensitive cryptographic strings that prove they own their funds, and if lost, would be gone forever. As such, it seems that while users are eager to take part, they are nervous that the tools that would enable them to vote might put their holdings at risk.