Block.one has been very successful with its EOS project in recent years. This cryptocurrency steadily holds the top positions in the capitalization ranking and has one of the fastest blockchain. For speed, however, developers sacrificed decentralization. In the EOS ecosystem, consensus is provided by validators who the community votes on by staking EOS tokens.
For many years, Block.one developers have been running this network and releasing updates that improve blockchain itself.
Network makers have not yet participated in network consensus management. Block.one currently owns approximately 9.5% of all tokens in circulation, giving it tremendous influence. During the ICO phase, it raised nearly four billion dollars, but in the first years of operation it only observed the situation regarding the validators.
But after solving paperwork with the SEC and paying $ 26 million things started to change. Currently, Block.one is staking 90 million tokens and is becoming more active in the ecosystem. Profit from staking will go to network development and support for startups that use EOS.
It will be interesting to see how the situation around this cryptocurrency eventually develops. EOS is a Chinese project and we all know that the Chinese government supports the development of this blockchain. Block.one has been selling its DLT solution to corporate clients for some time now. However, there is a negative effect of coronavirus.
EOS so far unconvincing
Block.one seems to have no choice and must to participate more actively in the EOS ecosystem. The value of this cryptocurrency has been declining in the long term and is currently trading at an unconvincing $ 2.7. It is ranked eighth in the ranking by capitalization. EOS has already overtaken Litecoin, Bitcoin SV and Tether.
Anyway, in the long run, EOS is still very interesting and many use this dip for further purchases. Me as well.