EOS User Agreement Update Finalized Backing Voting Gridlock

Coinspeaker
EOS User Agreement Update Finalized Backing Voting Gridlock
The long-awaited EOS user agreement was signed by 21 of the network’s 30 Block Producers following months of negotiation and debate following referendum gridlock.
EOS User Agreement Update Finalized Backing Voting Gridlock

Continue reading at Coinspeaker
Source: CoinSpeaker

EOS can Complement Bitcoin To Develop As a Better Store Of Value Suggests Block.one CEO

The Founder and CEO of Block.one, Brendon Blumer earlier this month had commented on Bitcoin at the 4th Annual DC Blockchain Summit which invited criticism from the Crypto Twitter community. He was apparently accused of shilling EOS by bad-mouthing Bitcoin. Block.one is the firm that provides for the different applications and development on the EOS platform.
He stated that:
“Bitcoin is Fundamentally transformative… But actually Transfer takes an hour  It’s expensive. Taking inflation into account each transaction costs about $50-$100, it can only perform 3 transactions per second for every person on the network…its huge scaling limitations”
The criticism from Brendon about Bitcoin invited negative feedback from the community as they presumed that Brendon was shilling EOS by highlighting the limitations on Bitcoin.
A disgruntled twitter member took it to Brendan Blumer by called his criticism as “ridiculous.” He mentioned in his tweet:
“CEO of http://Block.one  @BrendanBlumer spreading ridiculous mischaracterizations about Bitcoin at a @DigitalChamber event.”
Nevertheless, Brendon came with a quick reply to the critics stating that he just stated that facts that would still love to see Bitcoin on top.
“I love #Bitcoin too, but that won’t make it fast or cheap
Bitcoin has everything it needs to succeed, and I think in time it will become the largest store of value in the world#EOS isn’t designed to compete with Bitcoin, it’s optimized for different use cases”
Bitcoin onto EOS: Blummer’s Vision
In an additional tweet today the Co-Founder of block one also outlined an ambitious project that could solve the scalability issue on Bitcoin and also benefit EOS in the long run. The idea apparently suggests as adding Bitcoin as an asset onto the EOS smart contracts.
This would enable instantaneous transactions conducted on the EOS network which would, however, involve the transfer of value in Bitcoins (BTC).
“What if #Bitcoin could flow onto #EOS and transact nearly free and nearly instant, while becoming programmable and scalable”
EOS is leading the race for the number of daily transactions and decentralized applications on its platforms ahead of Ethereum and Tron. Last month, it was also ranked as the top cryptocurrency in the list published by two independent research entities: CCID Public Blockchain Rankings and Weiss Cryptocurrency Ratings. Hence, there is a lot of reason to believe in Brendon Blummer as a visionary of the crypto-space.
Do you think Block.one will be able to deliver the visions of Blumer? Please share your views with us. 
The post EOS can Complement Bitcoin To Develop As a Better Store Of Value Suggests Block.one CEO appeared first on Coingape.
Source: CoinGape

The First Batch of Speakers Revealed: Atari, NEO, Reality Clash and Block.one Confirmed to Speak at Crypto Games Conference

CoinSpeaker

The First Batch of Speakers Revealed: Atari, NEO, Reality Clash and Block.one Confirmed to Speak at Crypto Games Conference

The Crypto Games Conference is the world’s largest and definitive business event for crypto gaming industry.

The First Batch of Speakers Revealed: Atari, NEO, Reality Clash and Block.one Confirmed to Speak at Crypto Games Conference

Continue reading at Coinspeaker
Source: CoinSpeaker

Crypto Startups Forked Out $878,000 To White Hats In 2018

Bitcoin may have been dubbed the “world’s most secure transaction settlement layer” by Anthony Pompliano, but the industry surrounding the protocol may not be all too secure. Case in point, crypto startups have forked out over $878,000 in bounty to white hat hackers in 2018, specifically for solving bugs that slipped under the radar.
Crypto Startups Awarded $878,000 To “Goody Two Shoes” Hackers
The Next Web’s Hard Fork column recently reported that over the course of 2018, blockchain firms awarded $878,504 to goody too shoes hackers for rectifying bugs. Block.one, the company behind the crypto juggernaut in EOS, forked out upwards of 60% of the aforementioned sum. Considering that the startup raked in an approximated $4 billion for its EOS token offering, one of the most hyped cryptocurrencies of all-time, it makes sense why Block.one awarded $534,500 to white hats.
Interestingly Coinbase, the seemingly unhackable $8 billion upstart, comes in behind Block.one with $290,381 in paid bounties. But, HackerOne, the cybersecurity platform that compiled the data, didn’t divulge how much of that sum was a result of 2018 bugs, as Coinbase purportedly began its disclosure program in 2014. Justin Sun-headed Tron, which recently surpassed a number of pertinent milestones, has found itself behind Coinbase, allowing white hats to score $76,200.
Yet these quintuple and sextuple figures are edge cases, as a HackerOne spokesperson told Hard Fork that “the average bounty [paid] for blockchain companies in 2018 was $1,490, that is higher than the Q4 platform average of around $900.”
Still Vulnerable 
While many crypto projects talk a big game, the bottom line is that many blockchains and cryptocurrency-friendly startups remain vulnerable. As reported by NewsBTC in early-August, Altex, a lesser-known crypto asset exchange, saw its ARQ stash get looted. The platform claimed that it “lost a big amount,” specifically due to a bug that hails from the Monero codebase.
Just two months later, Pigeoncoin (PGN) fell victim to an odd inflation bug, CVE-2018-17144, that allowed a bad actor to whip up 235 million PGN within a day’s time. Interestingly, the bugged line of code comes from the Bitcoin protocol. The issue has since been patched by Bitcoin Core (the software) developers, but this event still shocked consumers en-masse.
Ground-breaking bugs aren’t limited to the small-cap cryptocurrencies. In July, SlowMist, a Chinese cybersecurity firm, claimed that an anonymous user managed to double spend 694 Tether (USDT). According to SlowMist, a transactor was able to gain credit for 694 USDT on an exchange without sending the funds. Upon digging, it was discovered that the issue was the fault of the victimized exchange. Dacoinminister, a founder of the Omni Protocol, which Tether is based on, wrote:
“It appears that what happened here is that an exchange wasn’t checking the valid flag on transactions. They accepted a transaction with valid=false (which they should not have), and then the second “double spend” transaction had valid=true, which they also accepted.”
Regardless of where this problem originated from, the three aforementioned cases only accentuate the fact that this industry remains nascent. So, this industry’s developers still have a ways to go until crypto is spick and span, and ready for worldwide consumption.
Featured Image from Shutterstock
The post Crypto Startups Forked Out $878,000 To White Hats In 2018 appeared first on NewsBTC.
Source: New feedNewsBTC.com

Best ICOs for 2018 That could Turn the Fortunes Around

CoinSpeaker

Best ICOs for 2018 That could Turn the Fortunes Around

Check out top-five ICOs for 2018, which you can invest in and join the league of crypto most lucky ones.

Best ICOs for 2018 That could Turn the Fortunes Around

Continue reading at Coinspeaker
Source: CoinSpeaker

EOS Hat-Trick: Breaking TPS Records, On-Chain Trading & Over 1k Tokens on Network

The $7.2 billion market cap cryptocurrency, EOS has broken the 3k transactions per second (TPS) record and will be soon hitting 50,000 as per the hedge fund manager Mike Novogratz. EOSfinex, a decentralized exchange to be built on EOS network by Bitfinex has started making development while about 1200 tokens have been registered on EOS network.

EOSfinex in action: World’s first high-performance decentralized exchange

The world’s fifth largest cryptocurrency EOS is currently trading at $8.07. With a market cap of $7.2 billion, EOS manages the daily trading volume of about $656 million.

EOS

Last week, when the bulls first came, its price rose to $9.17. It can be expected that EOS will again cross above this level as green is dominant in the market right now.

Apart from price, EOS is making a lot of headway in network development. Serg Metelin, the Head of Developer Relations at Block.One shared a Tweet on the development of EOSfinex, “the world’s first high-performance decentralized exchange.”

Announced by the cryptocurrency exchange Bitfinex at the beginning of this year, EOSfinex aims to,

“combine the scalability and speed of EOS.IO with Bitfinex’s industry-leading expertise to deliver an “on chain” exchange designed to offer a fast, transparent and trustless platform for the trading of digital assets.”

Also, read: EOS Ram Fees Account Reaches 1.28M EOS, Leading to Deflation & Long-Term Value

EOS breaks above 3k TPS, 1200+ tokens on network

Recently, EOS achieved over 2,800 transactions per second (TPS) leaving Bitcoin (BTC), Ethereum (ETH) and XRP behind. According to the latest numbers, EOS has crossed 3k at 3097 as its new All-Time High (ATH).

EOS

However, some believe EOS will be hitting a bigger number very soon. As put by the hedge fund manager Mike Novogratz, EOS should be reaching 50,000 transactions per second in coming months given the fact that it has only 21 block producers.

According to the latest Medium Post, over 1200 tokens are already on EOS network,

“Most of them have only a few transactions, and there are several giants that made their airdrops.”

The extract by the author of the post was as of July 17, that included tokens that have at least one transaction. Also, an iOS wallet for EOS, NOVA Wallet that touts on its website to be a multi-OS wallet claiming one “can use the NOVA Wallet in iOS, Android and Chrome Extension” has also made an entry into the market.

However, there is no official confirmation from EOS as put by one Redditor,

“I am anxiously awaiting feedback from the community before I try this. But, since it is in the Apple store it looks super promising.”

EOSNOVA pointed out,

“IOS beta testing is currently underway. We will officially launch it in the App Store in early August.”

The post EOS Hat-Trick: Breaking TPS Records, On-Chain Trading & Over 1k Tokens on Network appeared first on Coingape.

Source: CoinGape