EOS digital currency decreased by 28% after announcing the resignation of the project's technical director
Eos coin
Eos is a digital currency that the Block One platform officially launched in 2017, a company that specializes in developing blockchain projects, and aims to provide developers with easy-to-use tools for developing decentralized applications.
What are the advantages of Eos ?
Eos is not the first or only currency to use blockchain technology. Ethereum is one of the most prominent competitors, as it ranks second in the cryptocurrency market after Bitcoin.
However, Eos offers several advantages, including:
The possibility of expansion
That is, the ability of the system to expand and grow, while maintaining the efficiency of its work, Bitcoin can perform 7-12 transactions per second, Ethereum conducts 20-30 transactions per second, while bank payment methods such as Visa and MasterCard make more than 30 thousand transactions per second. This is why the Eos platform was designed with open capabilities, so that it exceeded the barrier of 40 thousand transactions per second in the testing phase.
Free Token Template
Most blockchain projects require the purchase of certain tokens or "tokens", in order to access the project for a period of time. As for EOS, it has created what it called a free access model, which is not free in the absolute sense, but instead of buying special tokens that are valid for a limited period, it is sufficient to buy EOS tokens or Pay up front to get permanent access to the development platform.
Development package
The development package, or development group, is a set of tools that allow developers and programmers to create and modify applications. The more complex and size this package gives programmers wider options. In this context, Block One presented a distinctive development package that offers a lot of options.
Authentication
The EOS platform enables users to create new accounts directly on the blockchain network, unlike a lot of other projects that are based on blockchain technology. This option provides quick, easy access.
Proof of ownership
The EOS platform was built on the basis of the proof of ownership model, as all the computers on the network verify the number of tokens or tokens that each participant possesses, and the more coins the participant owns, the greater role it has in storing and resolving data, which is known as proof of work.
This system is similar to the Bitcoin mining system, but it does not consume much energy and does not require much capacity.
Account for inflation
This project is designed to continue launching new currencies or tokens only with the growth of the network and the growth of the user base, in order to take into account inflation, and to avoid the problem that Bitcoin was exposed to from a large fluctuation in the price, and to keep the price of Eos tokens suitable for the user. The price of one EOS token was $ 2.67 on June 3, 2020.
Announcement of resignation of the EOS Project Technical DirectorThe
EOS digital currency took a hit even before Bitcoin corrected its latest correction and pulled back to the $ 33,000 level.
The EOS digital currency retreated early on the rest of the alternative digital currencies, following the statement revealed by Mr. Dan Larimer yesterday, which is the announcement of his resignation from his position as Chief Technology Officer of the "Block.one" project.
In a blog post published on the “Voice” platform - the “Voice” platform, which is a platform and social network based on the EOS blockchain, founded by Block.one-, he told “Larimer” through which he officially resigned on December 31, 2020.
Larimer wrote:
"Sadly, all good things must come to an end."
Larimer's tenure with Block.one began in April 2017.
Block.one made headlines in the crypto world in the same year when it raised $ 4 billion in an ICO to build the EOS project, a blockchain competing for the Ethereum project.
In 2019, Block.one was fined $ 24 million by the US Securities and Exchange Commission.
When announcing his resignation, "Larimer" stated the following:
I will continue my mission to create a free market and voluntary solutions to secure life, liberty, property, and justice for all.
I don't know exactly what's next, but I'm inclined toward building more censorship-resistant technologies.
His hint of anti-censorship technologies is perfectly consistent with his recent posting on the “Voice” platform, where he published articles with titles such as:
More than half of my Twitter followers support the rigged elections.
I boycott Twitter.
The next step is to defend freedom of expression.
Mr. Larimer’s next step is likely to be political.
Block.one's EOS digital currency decreased by 16% after the news spread of the resignation of the technical director, and the decline in the price of EOS increased further and reached 28% today, after Bitcoin corrected and retreated to the level of 34 thousand dollars.
The performance of the EOS digital currency was almost stable between 2.5 and 3 dollars recently, and before March 2020, the currency's price reached 5 dollars.
EOS was also affected positively after Bitcoin's rally, as the EOS rose to $ 3.81 before collapsing again after the latest news announced.