Connect with us

EOS

EOS community votes to lower down annual inflation from 5% to 1%

Published

on

The EOS community voted to bring the annual inflation rate down from 5% to 1%.

It’s been busy days for EOS in the last couple of days. After several exciting news regarding the network, a “dispute” with Bloomberg, another update just emerged from the community.

On June 1st, the EOS community held a voting regarding the annual inflation rate. The proposal sought to change the EOS annual inflation rate from 5% to 1%.

In more details, the poll mentioned that out of the current 5% rate, 4% is accumulated in the eosio.saving account, while 1% is distributed to block producers in pay for running/securing the network.

The original intention of the 4% accumulation was for the community to vote on how to spend it. For instance, they could vote to burn it or vote on various worker proposals.

Eight months and 8.75 million accumulated EOS tokens later, however, there’s still no clear use on what to do with the large amount of funds on the saving account.

This brings fear to the community that the $108 million and counting funds will eventually become an “attack vector” to the network.

“This proposal is therefore a request for the top 21 block producers, through a 15/21 multisig, to reduce the continuous_rate of inflation within the eosio.system contract from 5% to 1% and furthermore, to stop any EOS tokens being accumulated within the eosio.saving account by turning off the eosio.saving transfer action,” the announcement wrote.

At around the same time, Block.One announced several important updates on the EOS network, including the launch of the new social media platform, Voice.

EOS

EOS Price Analysis: EOS/USD quickly gravitates towards $2.6

Published

on

  • EOS slides below the support at $2.8 amid increasing selling activity.
  • The rising wedge pattern hints further break down in the coming sessions, especially if the selling continues.

The crypto market is still bearish on Monday despite the weekend being lethargic. EOS, alongside other major cryptocurrencies, pressed down against key support levels all weekend-long. From trading highs above $2.8, EOS dived, smashing through the next support at $2.7.

The losses have crossed over to the new week, whereby the European session is characterized by increasing selling pressure. EOS is down 2% on the day after extending the lower leg from an opening value of $2.79 to the current market value of $2.74.

The 4-hour chart for EOS/USD shows the price trading between the moving average support and resistance. The 50 SMA is providing immediate support at $2.67 while the 100 SMA is standing in the way of upward movement a $2.86.

Meanwhile, if a reversal fails to occur in the near term and in lieu declines break the rising wedge pattern support, EOS could gravitate to the next support at $2.6. Glancing lower, more support expected at $2.4 and the recent low at $2.37. The various technical indicators, including the RSI and the MACD, suggests that EOS is prime for sideways trading.

EOS/USD 4-hour

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

The 4-hour chart for EOS/USD shows the price trading between the moving average support and resistance. The 50 SMA is providing immediate support at $2.67 while the 100 SMA is standing in the way of upward movement a $2.86.

Meanwhile, if a reversal fails to occur in the near term and in lieu declines break the rising wedge pattern support, EOS could gravitate to the next support at $2.6. Glancing lower, more support expected at $2.4 and the recent low at $2.37. The various technical indicators, including the RSI and the MACD, suggests that EOS is prime for sideways trading.

EOS/USD 4-hour

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

source:fxstreet

Continue Reading

EOS

EOS on the Recovery Spree; Price Jumps to $2.74

Published

on

  • EOS price embarks growth during the intraday trading
  • The intraday traders might end the day with a profitable digit

EOS coin is on the recovery spree. The currency opened the day with a downtrend, but soon it was seen improving. The currency is speculated to give a great return in the future too. Yesterday, EOS price was dealing at a high of $2.76 and a low of $2.62. The volume marked by the coin was $1,514,999,632.

EOS Price Analysis

Yesterday, EOS started dealing at $2.7072. The price slipped to $2.6607 by 1.72%. There was a slight recovery marked immediately after the fall and touched $2.7044 by 1.24%. The price dropped again and touched $2.6437 by 2.24%. The coin improved and jumped to $2.70 from $2.65 by 1.73%. The major fall took place when the EOS price slipped to $2.6096 by 3.59%. The last few hours brought recovery and took the coin to $2.6611 by 1.98%. The intraday movement in EOS cryptocurrency reflected a regression of 1.73%. Today, the coin is spotted touching an intraday high at $2.7468. The progression marked is about 3.22%.

EOS Price
EOS Chart By TradingView

The EOS price is currently at $2.7375. The coin is now moving towards the next resistance level at $2.81. The momentum of the coin might take it up to the next resistance at $2.81. EOS is pointing towards a prosperous day for intraday traders. The same is expected for long-term investors too. The investment, in the long run, would bring a colossal profit to the traders.

Resistance LevelPriceSupport LevelPrice
R1$2.73S1$2.59
R2$2.81S2$2.53
R3$2.87S3$2.45

Source: cryptonewsz

Continue Reading

EOS

EOS Block Producer Claims Centralized Misconduct on the Network

Published

on

EOS Block Producer “EOS New York” has published data purportedly showing that six registered producers on the network are managed by a single entity.

In a tweet published on Nov. 28, EOS New York raised concern over the apparent levels of centralization and misconduct, claiming that:

“Six registered producers on EOS are managed by a single entity. This is unacceptable. We have requested the signatures of the top 50 registered producers so that all token-holders may know who does and who does not condone such impropriety.” 

Block Producers and “delegated proof-of-stake”

In the EOS ecosystem, Block Producers (BPs) are analogous to miners on the Proof-of-Work-based Bitcoin (BTC) blockchain or staking nodes on a Proof-of-Stake (PoS) protocol. 

The difference with EOS lies in the network’s consensus mechanism, “delegated  proof-of-stake,” whereby — in keeping with the governance terms set by the EOS’ constitution — network participants are able to stake their tokens to vote for BPs as “elected delegates.” 

Rather than merely staking EOS tokens as in a PoS system, Block Producers stake their investment in the network in the form of infrastructure, community support and development.  

For those seeking votes to become a BP, a barrier to entry is, therefore, having sufficient resources to provide the infrastructure needed to drive the proper functioning and continual growth of the EOS ecosystem.

In its Twitter thread, EOS New York provides apparent evidence from the eos.net Registry Domain database, which suggests that each of the six domains it suspects of being managed by a single entity “were registered at the same time by the same person/org.”

chart

Screenshot provided by EOS NEW York via @eosnewyork, Nov. 26

Community response

Responding to EOS New York’s tweet, Twitter user James Mart argued that approaching the problem manually and forensically is merely “whack-a-mole,” demanding time and at best offering a “temporary fix.” He advocated reforms to governance and voting mechanisms instead:

“1T1DV and stake-time weighted voting via Dan’s stake pools needs to be our top priority right now. It will permanently solve this issue.”

Mart’s response was challenged by crypto trader Justin Buck, who located the problem in the consensus mechanism itself:

“DPOS is not BFT [Byzantine Fault Tolerant]. Let’s be upfront and honest about it.”

As previously reported, EOS developer Block.one announced the release of version 2.0 of the EOSIO open-source protocol this October, which was intended to provide performance, security and smart contract efficiency gains.


Continue Reading
Open

Close