All ICOICO statsRatingReviewsBlogNews Wallets Mining Exchanges Chart Events

EOS News and Price Analysis: EOS Is Not for Passive Holders! Old accounts may be auctioned in the future. Tuesday, June 19

19 june 2018, 16:28 by Jofor Humani

Important EOS News

Bug In EOS Code Will Lead to Hack On Exchange

A yet to be identified bug in the EOS blockchain code will give hackers access to hack an exchange's hot wallet before long. This assertion was made by a Cornell University professor, Gün Sirer who said that the blockchain which was launched last week poses a threat to exchanges even though no one was sure where the fault in the code is located.

Sired said in a tweet “I’m calling it: there will be a massive exchange hack within the next year, taking advantage of an EOS vulnerability. That exchange will lose its hot wallet.”

EOS launches its blockchain last week after a year long ICO that has been criticized as unending by many. The crowdsale which generated more than $4 billion is meant to build a smart contract platform that boasted it will be the Ethereum killer.

EOS Blockchain Operational Again After Being Paused for One Day.

The recently launched EOS blockchain was pause a couple of days ago due to some technical hitches but have resumed operation yesterday, EOS according to data available from the network monitor.

The network block producer, the equivalent of miners in the Bitcoin Network have started production, the source said.
The freezing of the EOS Mainnet was as a result of some technical issues noticed on the blockchain just days after launch prompting some criticism of the network.

Dogechain creator Jackson Palmer in a tweet said that the pause and other issues observed with the EOS network leaves a lot to be desired. According to him, a well funded network such as EOS experiences pauses makes it hard not to get critical.

EOS Is Not for Passive Holders

It is a known fact that many coin holders view them as long term assets. The EOS network doesn't seem appropriate for that judging from the network constitution which hints that all accounts not active for 3 years shall be auctioned.

Article XVII of EOS’ Constitution states:

A Member is automatically released from all revocable obligations under this Constitution 3 years after the last transaction signed by that Member is incorporated into the blockchain. After 3 years of inactivity an account may be put up for auction and the proceeds distributed to all Members by removing EXAMPLE from circulation.

EOS Price Analysis

EOS/USD Price Chart, Tuesday June 19th:

Follow TokenTops on Twitter to stay notified about new articles, cryptocurrency news, ICO announcements and price predictions and analysis.

Please remember that investing in cryptocurrencies should be consider risky and may lead to the loss of all of the invested money. For further information visit Terms and Conditions section on TokenTops.We do not encourage our readers to any kind of behaviour or financial decisions. We believe that everyone should make their own and in depth research on the particulat topic in various sources before making any financial decision and this person should be the only one responsible for the outcome. Our writers do their best to remain unbiased and don't actively support any project. The research is done with various sources, the predictions are based on own believes, other experts and community discussions, yet they cannot be considered any type of financial advise. 

You may also like


Write comment 0 comments

You need to login to create comments.

Get the week’s best ICO right in your inbox