EOS Brings Year to an End Partnering With Huobi
Blockchain company Huobi DM has announced in Thursday that it has expanded its cryptocurrency contract trading services to include EOS.
Huobi Global CEO Livio Weng said:
“Along with that, we’re also seen a strong demand to expand Huobi DM to other coin types as well. Adding EOS contract service is part of our ongoing efforts to address customer demand. Users should expect to see Huobi DM expand service to additional digital assets over the course of 2019.”
At the current moment, EOS is included in the top-10 cryptocurrency list by market capitalization. Though some months ago, its price managed to exceed the mark of $6, the coin lost a serious part of its value and some weeks ago it was traded for just $1.74.
At the beginning of this month, the EOS blockchain protocol angered decentralization proponents. Specifically, Starteos, one of EOS’ officially sanctioned Block Producers (BPs), appeared to publically offer its token holders financial rewards in return for their votes.
Starteos’ vote-buying tendencies seem to fall in line with previous scandals centring around EOS.
In November, EOS investor Maple Leaf Capital pointed out that Starteos was launching a slot machine DApp, where users allegedly could set Starteos as a voting proxy to obtain in-game tokens. According to the original article describing the DApp, the rewards to the gamers would come directly from games.eos’s BP reward, which, in turn, is owned by Starteos.
The same month, however, EOS managed to replace Bitcoin Cash at the fourth position in the list of the major cryptocurrencies, but it was only for a short period of time. The largest share of the entire EOS trading volume is ensured by traders working on the OKEx exchange, Huobi occupies the fourth position in this list. Nevertheless, the recent Huobi’s initiative may significantly change the situation.
Just like XRP, EOS is often criticized for being centralized. In November, a screenshot was seen circulating on social media revealing a decentralized blockchain protocol EOS practicing authority over its network. Meanwhile, first stablecoin, CarbonUSD, was addedto the EOS ecosystem.
Also in November, there was another huge scandal that hit the crypto world. There have been numerous reports of attempts made by hackers and fraudsters to steal personal and other important information that could lead to loss of funds. The latest attempt came through an EOS wallet.
The malicious app had been uploaded on Google Play Store before it was discovered and reported by a Brazilian developer company. Named SimplEOS, the app mimicked the wallets created by EOS Rio, the developer company.
It was discovered that the fake software was actually a malware tool grabbing users’ passwords and other account information to steal their crypto funds. The fact that cryptocurrency transactions are anonymous makes it hard to recover stolen funds in such schemes. While it is the greatest cornerstone of the decentralized systems, the anonymity part is one of the major factors impending the total acceptance and adoption of cryptocurrencies by the authorities around the world.
In early October, allegations arose accusing the platform’s major BPs — including Huobi— of “mutual voting” and “collusion.”
Essentially, an alleged leaked Huobi spreadsheet suggested that main EOS nodes were involved in mutual voting along with payoffs to remain in power of the EOS blockchain and keep their profits. Interestingly, Starteos was also listed in the document.
EOS protocol was also blamed for having an incomplete approach to governance. What really happened is that Block.one, the developer of blockchain protocol EOS, was accused of allowing voting manipulation on its network and participation in a collusion.
In September, investment platform Circle has listed EOS, Stellar, 0x and Qtum on its platform. The assets can be bought through the Circle Invest platform either individually or as part of a basket using the “Buy the Market” retail portfolio investment feature.
Also, one of the most popular decentralized applications on Ethereum, Bancor, decided to launch BancorX on EOS to offer fast and free trading.
In July, RoboForex, the Belize-based unit of the Retail FX brokerage group, has announced that it is adding EOS for trading with the broker on both MT4 and MT5 platforms.
Further, in June, another scandal occurred when EOS BPs overrode an ECAF decision and froze seven accounts associated with phishing scams after the arbitration body failed to promptly come up with a response. The ECAF later retroactively ordered the accounts frozen, but the BP conference call-based decision caused some to question EOS’ decentralized system, and to label the move as “power abuse.”
EOS Price in 2019
When you look at the platform itself, you will realize its scalability. It is easier for the companies to use this platform in order to create various applications. With the help of parallel execution, it becomes easy for the company to run multiple decentralized applications.
EOS has retained its spot in the latest ranking of public blockchain projects released by the Chinese government. EOS also has plans of introducing Asynchronous Byzantine fault tolerant (abFT) by 2019, where the irreversibility time gets improved allowing BPs to communicate directly instead of inferring from block headers. There are plans of creating Universal Resource Inheritance (URI), which would create the infrastructure for 4% inflation, as being stated in the whitepaper.
From world’s largest cryptocurrency exchange aggregator CoinSwitch.co they say that as the acceptance ratio becomes more, the value surges upward. EOS is more technologically advanced than Ethereum and Bitcoin, due to which its pace of growth is the highest compared to other cryptocurrencies.
Towards the beginning of the year, it will start on a positive note, then in March, it will decrease to half of what it was at the beginning of the year. It will take an upward rise in May and June, where EOS price will reach $9.79 by the end of May 2019. In December, it will take a long plunge upwards to $15.67.
Since many of the enterprises, companies, and developers are looking for such a decentralized blockchain-based platform, the future looks bright. Also, owing to the parallel execution, the scalability of the platform is huge. The same developer is able to run multiple applications that are similar to the blockchain-based platform. This, in turn, opens up doors for more and more decentralized applications as well.