EOS News and Price Analysis: EOS May Become the DApp Building Platform of Choice. Saturday, August 18
Important EOS Cryptocurrency News
EOS Community Unhappy with Whale Dominance of the Network
The EOS community are unhappy with the immense voting rights and consequent power that they system have bestowed on the whales. These are investors who put in the most money in the network and have been granted more voting right and power due to the Delegated Proof of Stake system used by the network.
There has been a petition drafted demanding that voting right of all investors be limited to protect the average investor from decisions coming just from the opinion of a few wealthy stake holders.
“Currently, Bitfinex is voting between 10 million and 40 million EOS for up to 30 other BPs,” the petition reads. “These votes go a LONG [sic] way to ensuring the recipients are among the Top 21.”
EOS May Become the DApp Building Platform of Choice
With the launch of the EOS Mainnet in June, the platform has struggled to get all aspects of operations running smoothly. This has not debarred it from attracting many decentralized application (dApp) builders on the platform.
The 2 months old platform already has 229 dApps in different stages of development on its Mainnet. This has led many analysts to predict that the platform will be the main rival to Ethereum which has 1,781 dApps on its platform.
A redditor Babble7935 wrote: “There are 1,781 DAPPS on ETH with 10k total daily users. I think there are already over 200 DAPPs being built on EOS and Steem which was built by Daniel Larimer I think often has more daily users than all ETH DAPPs combined and he is building something similar on EOS. When do you think EOS will pass ETH in terms of total active DAPPs and daily users? I think by the end of Q1 next year.”
EOS Averages $5 As Market Moves
EOS is presently trading at $4.99 after the price moved in the positive direction after being nearly static for two days. The price spiked to $5.60 on August 18 according to data from Coinmarketcap but the movement could not be sustained long enough to facilitate the breakout that would herald bullishness.
EOS/USD Price Chart, Saturday August 18th:
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