EOS has been one of the top-performing crypto-assets in 2019. The virtual currency has surged by more than 400% in valuation, since the start of January. The EOS.IO team had also announced a collaboration between EOS and the Coinbase Earn platform, where users can collect the virtual asset by viewing content on the Coinbase Earn platform.
Despite the prominence of its ecosystem however, a lot of questions have been raised against its centralized functionality. A significant part of the community has suggested that EOS does not “prioritize” the idea of decentralization as the network currently has only 21 active nodes, implying that the control resides in a limited number of individuals.
Weiss Ratings had previously raised this issue and commented that the ecosystem had “serious problems with the centralization aspect.”
However, according to recent statistics released by Blocktivity, EOS’s public blockchain is responsible for more than 60% of all blockchain transactions, outperforming the likes of Ethereum [ETH] and TRON [TRX].
Weiss Ratings recently commented on the issue again, and acknowledged that EOS was still one of their “top rated projects.”
The leading crypto-ratings provider for virtual assets and stocks ETFs claimed that the fact that EOS was “downgraded” stems down to its centralization issues and the fact that EOS has not taken any measures to improve on it, since its main net launch.
Weiss Ratings suggested that developers were just dodging the issue and being oblivious about it.
It was also recently reported by AnChain.AI that a major share of EOS DApp transactions were made by bots. The study claimed that around $6 million in transaction volumes were rapidly driven due to illicit bot activities on DApps in the first phase of 2019.
The suggested manipulation through artificially-curated accounts does not sit pretty with EOS’s profile and despite the valuation pump, in the long term, it is speculated by some that the virtual asset might not be able to hold its ground.
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Justin Sun on shaking down the Internet, Coin Metrics on Kin’s blockchain activity and more
Crypto News – 26 June – Justin Sun on shaking down the Internet, Coin Metrics on Kin’s blockchain activity and more
— AMBCrypto (@CryptoAmb) June 26, 2019
Crypto News – 26 June
Bitcoin breaches new resistances: In a sensational run that saw the coin surge by 15% over 24 hours, the world’s largest cryptocurrency breached the $12,000 mark, while also briefly touching the $13,000 mark, before falling again
Read more at https://bit.ly/2ZMkS10
Tone Vays on Bitcoin’s biggest strength: Tone Vays opined that Bitcoin’s biggest strength was the fact that it was completely “unconfiscatable” and that one’s BTC is completely safe if it is protected and secured with attention
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Tron Foundation launches new inititative: Justin Sun’s Tron Foundation announced a $20 million TRX buy-back plan to promote community activity and market stability
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Joe Kernen on Bitcoin, Libra: The once crypto-skeptic, CNBC Squawk Box’s Joe Kernen is of the opinion that Libra is for corporations, while Bitcoin is for the people
Read more at https://bit.ly/31MkqSa
Bloomberg on JPM Coin: According to a report by Bloomberg, the Jaime Dimon-led institution plans to launch the JPM coin and use it for bond transactions
Read more at https://bit.ly/2X75DTr
Fundstrat report on stablecoins: According to a recent report by New York-based Fundstrat Global Advisors, the FS CryptoFX Stablecoin index fell by a whopping 21 percent against BTC, with Gemini outperforming Tether [USDT]
Read more at https://bit.ly/2X5qPJw
BitGo’s latest collaboration: Bitcoin IRA has announced that it will be teaming up with BitGo to launch crypto-retirement accounts insured for $100 million
Read more at https://bit.ly/31UvjBz
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