The $4 Billion ICO Token, EOS, Is Still Learning And Evolving How To Live Up To The Hype


EOS Is Still In Progress

EOS is a blockchain project that has gained a space among top market contenders and it is currently vying for the position of having a high amount of market capitalization. The platform boasts decentralized storage, high bandwidth, and incentives.

The platform also released an ICO, which was relatively successful and completed in an ambitious timeline. The platform was able to raise over $4 billion in ETH, which was a record at the time. The EOS platform has also gone through several successes, but even so, there has been criticism as well.

According to Beni Hakak, CEO fo LiquidApps,

“Blockchains today don’t yet scale. EOS . . . which has solved many issues on the transaction speed side, still has resource limitations, which are critical for the extensive dApp developer that is so needed for users adoption.”

Peter Todd has also expressed his sentiment on EOS’s scalability, sharing that “it was more likely than not deliberately designed to be terrible.” Moreover, EOS launched a bug bounty program, but it too has had issues. Apparently, the program has a vulnerability, which was exposed by a Chinese cybersecurity firm. The vulnerability has allowed hackers to deposit EOS into exchanges and wallets and then the deposits would transfer. EOS repositories also had buffer overflow vulnerabilities, causing the company to have to pay white-hat hackers in 2019 in the tune of $50,000.

These are not the only errors the platform has exhibited. There are others and together, they continue to suggest that the platform is still a work in progress.

Todays-Bitcoin-BTC-Price-Prediction-Plus-ETH-XRP-and-BCH-Chart-Analysis

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide