EOS developer makes blockchain governance proposal
|- Block.One CTO published a proposal on decentralized governance improvement.
- EOS/USD recovered from the intraday low, stopped on approach to $3.00.
Dan Larimer, the chief technical officer of Block.One, the company behind the EOS ecosystem, published several proposals on how to improve network decentralization.
"The purpose of blockchain governance is to make decisions in the best interest of as many people as possible while minimizing the opportunity for a small group of people to act in ways that benefit themselves at the expense of the community," the CTO of Block.One explained.
He also added that is was necessary to align interests and select the parties that would lose a lot if the network failed to operate to its potential. Larimer suggested providing voting rights only to the tokens locked in a long-term staking contract to «ensure a long-term outlook and “skin in the game”
"The yield someone earns for staking compensates them for the loss of liquidity and should be proportional to the length of time the tokens are locked up. It is best for the network for tokens to be locked as long as possible based upon market-determined rates of interest."
EOS/USD, the technical picture
EOS has recovered from the intraday low of $2.81 to trade at $2.97 at the time of writing. Despite the recovery, the coin is still 5% lower from this time on Tuesday. The further upside is limited by a critical $3.00. Once it is out of the way, the bullish momentum is likely to gain traction with the next focus on $3.10 (SMA50 (Simple Moving Average) on a four-hour chart) and $3.23 (the upper line of four-hour Bollinger Band).
EOS/USD, the four-hour chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.