EOS News And Price Analysis: An EOS Fork May Be Closer than Anticipated. Saturday, August 11
Important EOS News
Decentralized Rival of Wikipedia Launches On EOS
Everipedia the decentralized information platform that intends to rival Wikipedia has announced that its operations will be launched on the EOS blockchain. The company which promotes its activities by highlighting that Wikipedia is largely censored plans to reward publishers with token and presenting to its readers, unrestrained information.
The market for uncensored information is well documented and the entrance of Everipedia may just fill that need. The company whose Chief information Officer (CIO) Dr Larry Sanger was a co-founder of Wikipedia
The project was initially planned for Ethereum, but in December the team decided to move over to EOS citing difficulties associated with the scalability of Ethereum.
An EOS Fork May Be Closer than Anticipated
The spate of controversies the EOS network has courted may soon result in an early fork of the platform’s code. Douglas Horn, a member of the community recently spoke with CoinDesk making the revelation. He is just one out of several groups that are unhappy with the way things are run on the network. Horn’s whitepaper for Telos, a proposed fork of EOS has been published and may just be the first among many.
EOS Plummets Due to Selloffs
The recent fracture in the coin market resulted in losses to most altcoins. This has made many coins such as IOTA trade at year low prices. EOS is currently trading at $5.63 as bearish pressure pushes the coin towards the next support level.
The downward movement below the intermittent support level is the trigger for massive selloffs that has seen the coin near oversold region especially from 48 hours ago after the SEC announced the postponement of its decision on bitcoin ETF.
Although eos is yet to test 2018 low of $4, if the bearish pressure is sustained that possibility is not remote. Traders are advised to selling eos on pullbacks with upper limit of stops at $7.
EOS/USD Price Chart, Saturday August 11th:
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