It appears EOS holders are extremely dissatisfied with the direction the network has headed.
Published by Block.one in June 2018, the EOSIO software is a blockchain-based smart contract platform aiming to power large-scale decentralized applications. The network uses a computation and storage resource exchange in place of transaction fees to create an easier user experience. Chief technology officer Dan Larimer previously founded two blockchain networks, Steem and BitShares.
The EOS protocol operates on a different consensus algorithm than Bitcoin’s proof-of-work called delegated proof-of-stake, which prioritizes speed and scalability over absolute censorship-resistance and decentralization.
A unique aspect of EOS is its approach to governance, or how tokenholders on the network vote and implement changes to the protocol over time. When a new user joins EOS, they must first sign the EOS User Agreement, which defines the rights of users on the network as well as methods for dispute resolution.
EOS is competing against a growing number of smart contract platforms including Ethereum, Cardano, NEO and Tezos, among others.
On paper, EOS has great fundamentals, but derivatives markets suggest traders don’t feel the same about the altcoin’s price potential.14074
RGT, POLY and TLOS secure double-digit gains as investor sentiment rises after the Fed says it will not ban cryptocurrencies and Bitcoin briefly reclaims $44,000.9828
New research asserts that EOS and ETH were wash-traded on exchanges to manipulate prices during EOS’ multi-billion-dollar ICO.14352
Retail traders have turned their backs on EOS, but derivatives data shows pro traders are maintaining a bullish perspective for the short term.13283
Data from Cointelegraph Markets Pro shows SNX, AXS and EOS as the strongest 24-hour gainers as the bullish momentum in DeFi and NFT tokens continues to build.13294
With legal troubles seemingly behind the company, Block.one could set its sights on finally making a significant dent in the crypto and blockchain space.8973
MATIC, EOS, XMR and AAVE could rally higher over the coming days if Bitcoin price can sustain within the $30,000 to $33,000 support zone.80710
YFI, EOS and REV notched double-digit rallies as altcoins capitalized on the oversold bounce in Bitcoin and Ethereum price.39719
Canine-themed meme tokens like ELON, SHIB and DOGE have taken control of the market while Bitcoin consolidates below $57,000 and Ethereum holds above the $4,000 mark.61029
The EOS-based Bullish Global crypto exchange platform is expected to go live later in the year.27949
EOS is the latest large-cap altcoin to experience a massive price surge in the last few days as alt season gains momentum.41043
EOS, LTC, ETC and ETH are just a few of the altcoins that chased after new multi-year highs as layer-1 projects saw an increase in trading volume.50497
A proposal to boost staking rewards and increase the inflation rate triggered a 100% rally in EOS price.35177
The bulls are trying to stabilize Bitcoin price and if they succeed, VET, SOL, EOS and FTT could quickly bounce back to their local highs.82356