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EOS announces launch of Tether [USDT] on its blockchain as it receives support from Coinbase



EOS, the fifth largest token on CoinMarketCap was riding the bull as the coin noted a growth of almost 20% after the major fall. The market sentiment was pro-EOS when Coinbase announced support for the coin on its retail site and applications.

In the latest update from the EOS ecosystem, Paolo Ardoino, the CTO of Bitfinex, in an interview with CCN, announced that Tether [USDT] would be launching on the EOS blockchain. In February, the exchange had announced the launch of eosfinex, a crypto-asset exchange which would be built on top of the EOS protocol, reported CCN. With Tether expanding its reach to various blockchains, the world’s largest stablecoin would add another feather on its cap. Tether announced that the launch through a tweet,“Following the widespread success of Tether across Omni and Ethereum, we are delighted to announce our launch on EOS.”

Following these updates, Ran NeuNer, the host of CNBC’s crypto-trader also took to Twitter and informed the crypto-community about the blockchain-powered competition to Twitter that would enter the market through EOS’s founding company.

“Block one, the founding company of the EOS chain is launching a blockchain powered competitor to Twitter. Participants will be rewarded for engagement using tokens that represent a portion of the ad revenue.”

EOS faced a massive fall hours before it pumped. According to the Trading View chart of Binance, the coin plunged by over 20% within a period of five hours. The price of the coin fell from $8.54 to $6.78. However, as the announcement of Coinbase was made, the coin started picking up momentum and almost recovered its losses.

Source: Trading view

Source: Trading view

At press time, EOS was valued at $8.30, with a market cap of $7.61 billion. The 24-hour trading volume of the coin was noted to be $5.51 billion as it reported a 12.01% growth over the past day. Over the past seven days, EOS noted a 28.72% growth and continued to grow by 0.67%, within an hour.











LiquidApps Makes It Checkmate For Costly EOS Computation



EOS scaling project LiquidApps, best known for its off-chain DAPP Network, has achieved another major breakthrough. Not content with driving down the cost of vRAM, LiquidApps has pulled off the same trick with vCPU, bringing low-cost computation to EOS projects without compromising decentralization.

The horizontal scaling solution pioneered by LiquidApps, first with DAPP Network and now with vCPU, is the polar opposite of traditional blockchain scaling approaches, which operate vertically through increasing node validation capacity. The latter method eventually reaches a ceiling that thwarts further optimization attempts. LiquidApps’ approach, which involves taking the bulk of all computation off-chain, frees up precious resources on the EOS network while dramatically driving down the cost of computation to dApp developers.

Checkmate for costly CPU

To demonstrate the efficacy of its new vCPU product, LiquidApps has created LiquidChess, a simple but effective proof of concept. Two-player chess games can be experienced, with the moves recorded on-chain but the computation to verify the legality of each move occurring off-chain. There’s also no need to create a blockchain wallet to play the game thanks to the LiquidAccounts service that provides free accounts for EOS dApps.

Blockchain chess might sound like a primitive proof, but it’s a move that resonates far beyond the confines of the 8×8 board. The ability to perform computation off-chain opens the door to virtually unlimited CPU usage, far in excess of anything a blockchain could provide. Just as importantly, it does so without materially forgoing decentralization. The same DAPP Service Providers that supply vRAM on the DAPP Network can now provide vCPU to the same clients. For the first time, developers can build and run dApps cheaply without having to worry about coding a viral hit, whose runaway success lands them with unsustainable computational costs.

Why cheap CPU matters?

As EOS has matured, it’s had to contend with a number of growing pains that have deleteriously affected dApp development. Reliable CPU has proven to be a particular sticking point due to limited capacity at times that’s frustrated developers. Staking EOS tokens entitles projects to a time-denominated amount of Block Producer resources. The high volume of transactions on the network have meant there hasn’t always been enough CPU to go around, or at least not at an affordable price.

LiquidApps’ vCPU is a milestone in blockchain scaling, not just for EOS, but potentially for other smart contract chains too where the same technique can be applied to slash the cost of on-chain resources and free up valuable block space and node verification capacity. LiquidApps just changed the game for good.

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EOS New York proposes unified incentive model for stakeholders



Recently, EOS New York published a proposal about creating a unified incentive for stakeholders and improving decentralization and performance of the network. According to the post, the blockchain is mostly operating on default EOSIO settings, with very little features differentiating the EOS blockchain from the EOSIO software on which it is based.

The proposal shows that the current EOS incentive model is structured to encourage users to exhibit behavior beneficial to the individual, but not necessarily favorable for the blockchain as a whole. In the search for greater returns, users can perform actions that contribute to lower decentralization on the network, such as Sybil attacks and vote trading. This could lead to a consensus being held by a few powerful actors, which could prevent businesses from deploying on EOS.

The blog post read,

“In a Sybil attack, the attacker subverts the reputation system of a peer-to-peer network by creating a large number of pseudonymous identities and uses them to gain a disproportionately large influence.”

Since individuals can register several block producer accounts and increase their voting weight at relatively insignificant costs, the EOS consensus model is not Sybil-resistant. The proposal addresses this by adjusting and reallocating inflation, with block pay and vote pay reduced to 0% and token-holders being awarded 100% of inflation through staking rewards or by lending to REX.

Further, the 1 token 30 votes will be changed to 1 token 1 divisible vote, where each additional block producer votes for divides, rather than multiplies, the total vote weight. This would make voting coordination between large stakeholders no longer feasible.

The post also proposed that voting divert 50% of inflation that otherwise would have been received, where 20% is earmarked or burned to create a buffer that makes it more profitable to self-stake, rather than self-vote. This, combined with sending 80% to the block producer rewards pool, creates a general disincentive to vote.

To counteract this disincentive, a voting inflection point (VIP) has also been proposed and set to 30% of issued EOS, where if the total tokens voting relative to the total supply drops below the VIP, staking rewards are toggled off, inflation is reduced and all of it is awarded to block producers. The total votes are expected to always float around the inflection point, standardizing the capital threshold of attack against the network.

Additionally, block producers will be paid a percentage of EOS tokens in the pool based on rank, with higher ranks reaping higher rewards. Further, block producers that miss more than a certain number of rounds scheduled in a specified pay period will not be eligible to claim pay for that period. Once this threshold is reached within the given period, the total inflation of the system issued to all stakers and block producers decreases rapidly for that period and refills slowly over time, ensuring BP performance as a shared top priority for token holders.

The inclusion of a staking model ensures that staked resources are not diluted and can provide DApps with funding for EOS accounts, while attracting token holders to the platform. Overall, this will allow token holders to earn greater rewards without impacting decentralization on the network.

Finally, the blog also claimed that since EOS is currently too large and valuable to be subject to change all at once, the proposed changes are to be rolled-out slowly in phases.


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EOS Keeps the Bearish Run Intact; Price Hovers Around $3



EOS is battling in the downtrend for a long time. The coin was at $4.3 on August 01, 2019. The month ended with a substantial loss of 23.57% at $3.3. The fall continued in September also. Lately, the currency has experienced a little improvement, and the same is indicating towards a better future.

We have entered in the last quarter of the year. All eyes are upon the board for a better closing. Let’s have a look at the last month’s price movement of EOS.

The last month started with a moderate price movement in EOS. There was an uptrend noted, which took the EOS price to $3.9613 from $3.2560 by 21.8%. Later, the price fell to $3.7153 by 6.21%. Then, again, it went up and reached $4.2384 by 14.55%. Later, the tremendous fall brought EOS price down to $2.4193 by massive drop of 42.92%. There was a recovery in the last few days. That took EOS coin price to $3.1259 by 29% progression. The month locked 6.54% loss as it opened at $3.3445 and closed at $3.1259. The ongoing month is reflecting upward movement. In the last few days, EOS moved from $2.9971 to $3.3700 by 12.4%.

EOS price
EOS Chart By TradingView

EOS Price Prediction

EOS is dealing among the top ten cryptocurrencies in the market. Traders are still hoping for an improvement and thus sticking around. EOS is also speculated to experience the price rally soon.

As per the current statistics, the market cap of EOS is at 2,935,684,716 USD. Out of the total supply of 1,032,096,275 EOS, there are 935,396,263 EOS coins circulating in the market. The ROI is at 204.31%. The 24-hour volume is at 1,675,918,670 USD.

EOS has recovered strongly and likely to break its next resistance of $3.25 soon. By the end of 2019, EOS is likely to trade above $4.20. We would recommend long-term investment as it would give a colossal profit.

Resistance & Support Levels

R1: $3.25, R2: $3.33 and R3: $3.42

S1: $3.08, S2: $2.99 and S3: $2.91


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