Block.One Injects $150M Into Voice Social Media Platform to Fund Independent Operations

EOS blockchain protocol publisher that ran a $4 Billion ICO, Block.one, is injecting $150 million to enhance independent operations of its Voice social media platform that was introduced in June 2019.

According to a press statement released on Thursday, the money will be used to kick off Voice’s independent operations away from its parent company, Block.one. Voice has already started the process of independent operations as it hired Salah Zelatimo as the CEO in January who previously worked as the global digital head in Forbes. Following Zelatimo’s hiring, a public beta was launched last month.

According to the press release, Selah will lead the initiative to establish Voice as a separate enterprise and the $150 million will be used in the expansion of operations and building up of the firm’s workforce. Block.One had already spent roughly $150M last year getting the platform ready to go live. This doesn’t include the $30M they spent buying Voice.com.

Voice debuted in summer last year and at that time, it was hyped as the social media platform which gets rid of bots. During the launching time, it was touted as the social media network where real people rather than bots will post as well as share content in order to be rewarded with tokens.

The app aims at enhancing authenticity in the social media space which has been elusive in the recent past. Users will have to produce their identity details for verification. After verification, users will then be awarded Voice tokens every day which they then use to push certain posts. Users can also win extra tokens when they create original content on the platform.

Zalatimo stated that Voice is set to be a true content marketplace and the user will be in total control of the content which will be promoted. Members will also not be afraid of being wrong as the community can hold each other accountable. Zalatimo said:

“By designing a platform where every user has gone through Know Your Customer (KYC) verification and real identities are attached to the original content being shared, we are empowering users to hold each other accountable.”

Through the use of tokens, Voice aims at enhancing transparency in the content promotion process.

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Author: Joseph Kibe

Ethereum, Tron, and EOS Form ‘Big Three’ in the 2019 DApp Industry Report

  • While Tron is best defined as the “Las Vegas on the blockchain,” EOS’ dapp ecosystem fizzled out in 2019

Decentralized applications (Dapps) continues to thrive and evolve in 2019. Last year, 1,955 new DApps were launched, taking the total tally of DApps to over 4,000, according to the 2019 Dapp Market Report by DappReview.

The scale of Dapp users, however, remains far behind the centralized applications while the total value of on-chain transactions reached $23 billion.

In Dapp space, Ethereum’s leading position “remains unbreakable” with both Tron and EOS maintaining a good momentum of development. These three public chains account for more than 98.65% share of total transaction volume of the dapp market, forming what DappReview says the “Big Three” in dapp space.

Users’ Enthusiasm Fell in H2 2019

During the first half of 2019, Casino and high-risk DApps contributed the most to the transactions on Tron and EOS.

With 8 of the top 10 Tron DApps being casino DApps, Tron is best defined as the “Las Vegas on the blockchain.” Wink was the most successful and profitable Casino dapp on Tron in 2019.

The dapp ecosystem of EOS started well but soon fizzled out. In the last quarter of 2019, EIDOS, an airdrop smart contract almost paralyzed the entire EOS after its launch on Nov. 1st.

In the second half of 2019 however as the price fell about 50%, so did users’ enthusiasm for speculation. This led to a decline in transaction volume of these blockchains.

Other than these “Big Three,” nine public chains, IOST, STEEM, NEO, ONT, LOOM, TOMO, WICC, WAVES, and WAX with a total of 354 DApps were listed in the last year.

The Most Vibrant Area of Crypto Industry

The dapp that took the limelight in 2019 was DeFi, which become the “growth gist” of Ethereum. DeFi includes financial applications and exchange services like payment solutions, asset management services, and borrowing and lending markets.

The transaction volume of DeFi accounted for over 90%, 61.05% of exchange DApps and 29.98% of finance daps, of the total transaction volume on Ethereum at $12.8 billion.

Last year, the monthly number of unique DeFi users ranged between 40k and 60k. On average Ethereum-based DeFi platforms recorded the unique daily users of 3,456. Taking ERC-20 tokens into account, Ethereum’s transaction value at $12.8 billion exceeds the combined value on both EOS ($6.1 billion) and Tron ($4.4).

During last year, the number of active projects which are defined as those with more than 50 daily unique users nearly doubled.

Within the crypto space, DeFi however, remains small as the total collateral locked in staking at $6 billion is about 5x than the total collateral in DeFi.

“While DeFi represents a tiny segment of the crypto-industry, it is one of its most vibrant areas,” states the report.

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Author: AnTy

EOS Blockchain Undergoes Congestion and Heightened Transaction Rate for EIDOS Airdrop

EOS network launched its EIDOS token contract on October 31, 2019, and also announced an airdrop for the same where users with at least 0.0001 EOS in their wallet can participate in the airdrop. A user needed to send a minimum amount of 0.0001 EOS from their wallet to the EIDOS contract, and then the contract would refund the same amount back to the sender’s wallet along with a some EIDOS tokens as well.

The airdrop gained quite a popularity in no time, with over 95% of the transactions on the EOS network being done to the EIDOS contract. The increased transaction activity sent the EOS network into congestion mode where a comparatively less number of transactions are processed on the network. EOS users are required to buy computational power in order to get their transaction processed and thus users who were aware of the airdrop started buying computational power in advance.

As soon as the EIDOS airdrop went live, Coinbase recorded a decline in transaction activity for EOS on its platform on November 1st. They added additional computational power to unlock more transactions but later realized that most of the transactions on their platform were being done towards the EIDOS contract.

In general mode, the computational power used by the network for processing a transaction is 40 ms but in congestion mode that value has spiked significantly because of the demand.

As per the blog,

“The amount of staked EOS required for an ms of CPU (called “CPU price”) spiked drastically. Over the course of 4 hours, the CPU price increased by ~100,000%.”

The Reason behind such a Frenzy for the EIDOS Token

Right after the launch of the EIDOS token, several exchanges listed the new token on their respective exchanges against several trading pairs. One of them being EIDOS/USDT, which meant users can trade their airdropped EIDOS for USDT, which is technically free money.

There were several accounts which followed a similar pattern in order to aggregate as much of the airdropped EIDOS as they can. These accounts usually started with renting bulk CPU power from the network and used all of the CPU only for the EIDOS contract.

The EOS network even after more than a week is in congestion mode and the airdrop will continue for the next 15 months. The congestion would only restore to normalcy if the cost of buying the CPU power outweighs the EIDOS price.

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Author: Rebecca Asseh

EOS Finishes First-Ever Blockchain Hard Fork as More Upgrades Coming Soon

EOS, currently the seventh-largest cryptocurrency in the market, has just finished its first hard fork ever today. According to information taken from the ecosystem’s update tracking tool, which was created by EOSNation, one of its block producers, the update happened on September 23, 1 p. m. UTC.

This was the largest update ever to be made on the network. Because of this, it was also the first one to require a hard fork to be made. From the top 30 block producers, 29 of them were already committed to the upgrade at the time of this report, meaning that the process could be considered a success.

Tron Is Also Expected To Have A Major Upgrade Soon

EOS is far from the only company expected to have a major upgrade soon. One of its main competitors, the Tron (TRX) network, is also upgrading this month. The Sun Network, which was launched back on August 11, is set to be the next network for Tron, so the upgrade is set to be made soon.

Right now, Justin Sun, the founder of Tron, claims that this upgrade will lead the platform to have an unlimited scaling capacity. He also talked recently about new proof of stake mechanism, which is set to be implemented soon to increase the participation of the users on the network.

NEO is also set for a major upgrade soon. NEO 3.0, which is set to take the platform to the next level, was announced this month and will be made on Q2 2020. The new upgrade will allow smart contracts to be deployed in a cheaper and easier way and the blockchain to become faster.

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Author: Hank Klinger

Altcoins Surge As Bitcoin Price And Dominance Takes A Drop; BTC Rally Coming Soon

  • EOS, Tezos, and Maker leading the pack
  • BTC dominance takes a hit as well as price did of $200
  • However, A monster rally could be on the way

Bitcoin price took a hit before the weekend, going from $10,950 to about $10,200 level. However, soon after BTC price recovered.

Today, Bitcoin has been trading around $10,542 when it took another dump of over $200 in less than half an hour, going to $10,320.

Currently, BTC/USD is trading around $10,375 with 24 hours loss of 0.03%, as per Messari.

This year, while Bitcoin price soared over 200%, altcoins failed to show any signs of life.

However, this time, altcoins are taking over Bitcoin.

Majority of the digital currencies have been enjoying greens with EOS in the lead with 12.36% gains followed by Tezos, (9.11%), Tron (9.08%), and Maker (8.17%), at the time of writing.

Top altcoins like Cardano (6.34) Ethereum (5.97%), Bitcoin Cash (5.54%), XRP (4.53%), Bitcoin SV (3.71%), IOTA (3.56%) among others are also registering a fresh wave of greens after much time.

The total market cap in response rose to $269 billion, up from yesterday’s $260 billion but still need to catch up to $274 billion on Sept. 6.

BTC dominance meanwhile has gone down to 72.6 percent from the high of 73.4% on Sept. 6.

A Monster Rally on the Way?

There is no knowing yet if and when altcoins will start their bull run, as a good number of these digital currencies are still down between 85 to 95 percent. Some like Cardao are down even more than 95% from their all-time highs.

However, Bitcoin’s journey to a new high seems to have started.

For starters, the three consecutive negative weeks that we saw recently was last seen during the bull run of 2017.

Moreover, Bitcoin traders are increasing their exposure to the digital asset on futures trading platform BitMEX. As we recently reported the open interest on XBT (that represents Bitcoin) against USD has crossed $1 billion, reaching $1.06 billion mark.

It is fast approaching its all-time high of $1.22 billion, set on July 10.

This willingness of traders to risk more of their money on the future outcome of the leading cryptocurrency, however, fails to provide clarity on which direction BTC price will move as it is split between “shorts” and “longs” by 51.02% and 49.08% respectively.

However, recently trader Jonny Moe took to Twitter to advise investors to place their positions cautiously as chart suggests a potential drop to around $6,000 level.

“Update: Still anticipating a return to the parabolic trend. Previously had ~$5,500 on this chart, assuming a quicker return to mean. Since we’ve consolidated sideways for about 2 months, the downside is more like $6,000 now,” he said.

A good thing is, popular analyst PlanB emphasizing that BTC price, as it has been, will likely be below and above stock to flow model value every year, “cointegration, not correlation, is key.”

“Proof is in: bitcoin price is mainly driven by stock to flow, not by any other factor.”

As per this model, the Bitcoin price will go beyond $1 million.

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Author: AnTy