- Biggest gainer of the day.
- Intra-day chart suggest there’s room for more upside.
EOS is biggest gainer of the day among all the major cryptocurrencies after losing some ground through this week as the crypto loses some ground after printing new all time highs, the only crypto to do so after the sell-off this year.
EOS/USD up more than 6 percent on day at $18.216, but has lost more than 20 percent from all time highs of $23.029 printed on last Sunday. A close look at the 15-minute intra day chart suggests the gains of the day could extend some more as the penant pattern is in the making and a breakout could lead to further gains for this crypto.
Immediate resistances in the way of this crypto’s upmove now stand around $18.64 and $19.47 levels while supports are placed around $17.60 and $15.92 levels.
EOS/USD 15-minute chart:
Dan Larimer of EOS.IO (EOS): VOICE to Be Fairer Than Steem (STEEM)
Daniel Larimer, CTO of the Block.one team behind EOS.IO (EOS) blockchain, decided to make things clear about the token economics of its anticipated VOICE content platform
The charismatic leaders of the Block.one and EOS.IO (EOS) blockchains are well-known as passionate polemists. Daniel Larimer has decided to prove it once again and to respond to all negativity that has been spread about the EOS-powered content distribution product, Voice.
No chance for self-voted content
First of all, Mr. Larimer dismissed concerns about the content promotion mechanism in Voice. He said that working on SteemIt (STEEM) taught him about the problems of token-weighted voting within a ‘one user-one vote’ promotion mode.
Image via EosGO
Thus, according to Mr. Larimer, the Voice system will be resistant to the ‘self-promoting’ manipulations as well as ‘organized’ voting for content that is not well ‘liked’. Moreover, the maximum quantity of ‘likes’ for certain posts will be limited to avoid such attempts.
As a result, users that collect many tokens won’t be able to get richer unless he or she has published highly valuable content. All of the strategies of ‘self-voting’ that cause widespread inflation of rewards on SteemIt will be detected and rejected by the system.
Categorization and filtering
Within the initial phases of operations, or ‘beta period’, the Voice platform will have only a couple of categories the content will be uploaded onto. In addition, Mr. Larimer has a program to revolutionize content categorization based on community-driven contribution.
The developer admitted that the current Voice filtering algorithm is derived from the Reddit Hot scheme. After further development, this will be replaced by a native one to ensure permanent rotation of content even with a small number of content producers
As previously reported by U.Today, the Voice platform received some negativity from the community once its KYC/AML-restrictions were disclosed. To meet the requirements of the U.S. SEC, the strictest financial watchdog in the world, Block.one may ask its potential users to provide a government-issued ID and proof of address.
EOS Price Analysis: EOS/USD finds support on the SMA 20 curve as bears retain control
- The Elliott Oscillator has had two green sessions following nine red sessions.
- After failing at the $4.40 resistance line, the bulls are struggling to keep the price above $4.
EOS/USD daily chart
EOS/USD has had a second bearish day in a row as the price dropped from $4.13 to $4.07 in the early hours of Tuesday. Presently, the price has found support at the SMA 20 curve. Earlier this Monday, EOS/USD failed at the $4.40 resistance line and dropped to $4.13. The MACD shows decreasing bullish momentum, while the RSI indicator is trending around the neutral territory The Elliott Oscillator has had two green sessions following nine red sessions, showing that overall market sentiment could be bullish.
EOS In A Route Of Losing Its Governance: Reports
Analysis by Binance Research, the governance of EOS fades with the benefits of decentralization.
Raised from the global leader in high-performance software, the company Block.one developed a protocol which is termed as EOS.
Per the intense market research and analysis by Binance Research, the governance of EOS fades with the benefits of decentralization. The reason behind the lack of governance of this third-generation blockchain protocol sums up with many reasons out of which Binance Research comes up with some of the major intentions.
Its latest report, the governance of EOS could miss out on the benefits of decentralization due to some of the acute reasons.
EOS a delegated Proof of Stake consensus network, frequently spotted as a victim of its governance; however, the largest EOS holders combine their positions and hold all the powers.
What is EOS?
Raised from the global leader in high-performance software, the company Block.One developed a protocol which is termed as EOS. This product was officially launched in June 2018 and proved to be the next-generation open-source blockchain protocol with industry-based transaction speed build for both public and private usage.
With the traction of growth in the price and ecosystem, EOS proves to be one of the most popular blockchains for dApp development.
What are the key reasons behind this issue?
Owning to the most powerful framework of decentralized application, EOS has been labeled as a culprit for its governance. Binance Research, one of the leading professionals in the crypto investment analysis industry, conducted the assessment in a three-fold manner and suspected in its latest report the performance of EOS concerning Collusion Resistance, Fault Tolerance and Attack Resistance.
Concerning Collision Resistance, EOS strengthens consolidation by vote trading and selfish act, whereas some of the individual companies like block.one or proxies have the leverage to change the votes radically.
The governance of EOS lacks in the method of vote trading. The impulsive structure of EOS strengthens by promoting vote trading and selfish acts.
Moving towards fault tolerance, these operational metrics proved that 2 out of 3 exchanges operating as block producers had poor performance amongst the 21 block producers. This could be one of the reasons where failures occurred.
Lastly, in regards to Attack Resistance, two clusters of block producers came out, which revealed a correlation between a regional distribution and voting patterns.
As a whole EOS, the third-generation blockchain is experiencing many issues about its governance such as low votes, insignificant transparency, poor resistance to Sybil attacks and also, changed block rewards.