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EOS News

55% Gains In Less Than A Week: EOS Price Jumps After Voting System Launch

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The value of EOS has surged by more than 21% only today – after the team of developers behind the altcoin decided to launch a voting system which totaled the token’s 7-day gains to almost 55%.

The EOS/USD was first trading near 5.3-fiat at the beginning of the Asian trading session, after which it continued to trend upwards as the session matured. The European session, on the other hand, witnessed a favorable buying sentiment and the EOS/USD trading pair managed to rise to 6.5-fiat.

However, many people claim that speculations apparently drove the price of EOS up – after taking cues from the blockchain project’s decision to launch the long-awaited referendum system. Right now, the EOS blockchain has an account with $35 million worth of tokens in it – which can only be allocated for the development of the EOS blockchain, as the rulebook says.

The EOS referendum system is one step forward in the direction of building a democratic decision-making process. Even though there are people who are not happy about the proposal (fearing the one-token-one-vote system and its speculative nature), the announcement has proven bullish to the EOS token value.

All in all, this surge has been crucial for EOS’ future and the future of its blockchain system – coming at the right time, as developers summed it up.

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DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Stefan is a full-time member and has been a Bitcoin Specialist for over 6 years. Providing daily news and updates for DC Forecasts.

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EOS News

eToro Subsidiary eToroX Now Lists EOS On Exchange

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eToro subsidiary of the blockchain global investment platform now has a new eToroX platform which announced to be listing the EOS crypto-asset now available for trading as we are reading further in the EOS news today.As of today, EOS will be both the counter and base currency for trading pairs on the eToro subsidiary EtoroX and can be traded against other crypto assets including a few fiats stablecoins pairs. The Paris comprise Bitcoin (BTC-EOS), Ethereum (ETH-EOS), Stellar (EOS-XLM), USD (EOS-USDEX), GBP (EOS-GBPX) and the Japanese Yen (EOS-JPYX). With the launch of the EOS on the new eToroX, it is now one of the few crypto and blockchain exchanges that have all of the top cryptocurrencies listed- Ethereum, bitcoin, stellar, XRP, and EOS paired against multiple fiat stablecoins.eToroX managing Director Doron Rosenblum commented about the vision of the exchange and why they decided to open up access to the tokenized world and he said:
 “We believe that we can leverage blockchain technology to open up financial markets. The flexibility, scalability, and secure processing capabilities of the EOSIO protocol significantly help the push towards mass adoption, which is an integral part of our ethos. We are extremely excited to add an EOSIO-based crypto asset to our secure and regulated exchange. The launch of yet another blockchain protocol shows how the eToroX Exchange is continuing to grow and expand into a significant presence in the cryptosphere.”
EOSIO software powers the EOS smart contract platform and the entire decentralized operating system. The EOS token provides both storages on the blockchain and bandwidth enabling ownership that is proportional to the total stake plus the owner participation in the on-chain governance of the blockchain. The exchange, on the other hand, is consistently identifying new and important technological advancements and the robust EOS offering is now a testament to the support for open source innovation.The CEO and co-founder of eToro Yoni Assia commented:“EOS is one of the foremost projects in the world of Blockchain. By adding the EOS token as a base/counter currency for trading pairs on the eToroX crypto Exchange, we are enhancing and strengthening our well-established connection with EOS.”Over the past few months, eTorox continues its goal of providing access to the world of crypto trading to more people and it will also launch more new crypto assets and stablecoins and announce further trading pairs where more currencies are pegged to fiat counter currencies.
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EOS News

Dan Larimer Has New Plans To Reduce EOS Network Congestion

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A new resource allocation model that will resolve the network jamming on EOS was proposed by Dan Larimer. If the proposal succeeds in its intentions it will give better access to dApp developers to the bandwidth resources that they need to operate their apps. Specifically, CPU and NET resources should be available at a more stable price as we are reading in the EOS news today. “The single biggest complaint is that CPU is too expensive [and] that it is too unpredictable in terms of how much CPU bandwidth you get at any given time,” Larimer says in his proposal. Many customers cannot bind enough EOS to reserve CPU because the CPU rental market has become speculative.The point of the new proposal of Larimer essentially aims to discourage speculative activity. It makes sure that 100 percent of the CPU is lent from EOS’s system contract at all times and a steep price curve is implemented making the CPU non-transferable resource. The dynamic resource market should become a stable one with the implementation of these features.This is not the only time that a solution to the jamming problem is looked for by EOS. Resource exchange that allows users to stake their EOS, called REX was introduced in May this year by EOS, thus giving their entitlement to CPU to other users and in return receive prizes. According to Dan Larimer, as users made many withdrawals REX ran out of EOS. Incredibly long waiting times are another problem that REX faces. “Lenders end up waiting 30 days for leases to expire or potential renters end up without any EOS for rent because lenders have asked for their EOS back,” Larimer said. There is no easy solution for both of the parties under the current REX model.REX is still functional besides these failings. “The good news is that REX is working as designed,” Larimer said. In the future, the new market will still send prizes to REX users, while EOS can still be retrieved by lenders from REX. The rise of the price of CPU by over 100,00% is the fault of EIDOS’s campaign, according to Coinbase. The prices EOS’s CPU is high as they were a few weeks ago, while there is a possibility that the campaign will die out.
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Blockchain News

Ubisoft Partners With EOS-Based Gaming Platform Ultra

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The popular French video game company Ubisoft partners with the EOS-based gaming platform named Ultra, reports in the EOS news show. The French video game giant with a net income of more than $153 million and around 16,000 employees will produce blocks on Ultra's testnet and could stick around for the mainnet launch.This would give the company a true stake in the EOS-based distribution platform. Knowing that Ubisoft is a key player and an industry giant, the company has agreed to produce blocks on its testnet before the end of the year.Meanwhile, people know Ultra for its UOS blockchain which is actually a fork of EOS. Ubisoft will be one of the companies to produce blocks and validate transactions on the platform. This announcement comes right after Ultra added a trio of technical block producers: Bitfinex, EOS Rio and EOS New York.As Ubisoft partners with Ultra, the company will act as a corporate block producer. The CEO of Ultra Nicolas Gilot commented the new partnership and noted:
"Ubisoft is a well-established and respected game company; having their support running the Ultra blockchain and testing its functionalities increases even further the legitimacy of our network, boosting the confidence of the other large game publishers to distribute their games on Ultra. Their involvement is also a validation from the games industry that blockchain is now an important part of the ecosystem."
The French video game manufacturer has shown significant interest around blockchain tech lately - and is again featured in the blockchain news.Before this, we saw the Entrepreneurs Lab program which provided studio space and support to numerous startups in the blockchain arena. Both Ubisoft and Ultra were members of the Blockchain Game Alliance, which was founded in September 2018.
"Our team at the Strategic Innovation Lab strongly believes that all blockchain use cases that bring value to players are important to support, and Ultra offers a solution that does just that,” commented the blockchain initiative director Nicolas Pouard following the news that Ubisoft partners with Ultra.
“During this first trial period of collaboration, we hope to help them in bringing it to a larger scale and experiment with the possibilities this opens up for the industry,” he concluded. 
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EOS News

EOS Block Creator EOSHenzen Makes Profit From Sock Puppets

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EOS Block creator EOSHenzen is the 59th largest block producer and was accused of creating multiple EOS accounts and violating other rules according to the members from the community and other block producers. Let’s find out more about this information in the EOS news today.As per the reports:
“When threatened with removal, these sockpuppet Block Producer accounts created … perfunctory, superficial websites (within 1 day) to ‘conform to standards’ in order to avoid removal. Same site design. Same title font. Same non-existent information. They’re the same BP.”
Before this, AlohaEOS and other producers wanted to remove the six accounts on the grounds that they don’t have a website or means of contact. Also, in order to be compliant with the part of the bock producer agreement, the accounts registered a few websites that were registered to the EOS block creator EOSHenzen. The alleged accounts of the block creator didn’t attract enough votes to become the top 21 or active block producers. They have no power but they also collect financial rewards up to $300 of EOS per account each day.EOS’s constitution and block producer Agreement does not forbid the block producers from creating multiple accounts but it seems that by doing this, they will abuse the entire system. Given that the block producers are keeping their stance, it is possible that a future vote will be held to remove the sockpuppet accounts. EOS New York has also alleged that the crypto exchange platform Bithumb is responsible for funding the voting proxy that will support the six accounts. Bithumb was only voting for block producers since June but EOS New York was not available for comment on why their linked transaction is out of order.Some of the EOS users are advocating for a permanent change to the EOS voting system with one token, one vote system that will ensure that voting for a single block producer will carry more weight than voting for multiple block producers and this will discourage sockpuppets in the future. There is another option as well. Block.one, the company behind EOS, announced the plans to vote for block producers since it holds 9.5% of the EOS supply which gives it a small but significant amount of power.
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