EOS Weekly Recap: August 5 - 11, 2018

EOS Intel is the premier intelligence, research, and news service for the EOS community. We produce insightful and objective profiles and audits of those who are most likely to affect the success of the EOS network: the block producers. We also enable EOS-focused startups and businesses to remain up-to-date on the latest developments and insights to the blockchain and cryptocurrency industry around the globe. Remain up-to-date and informed on all things EOS at http://eosintel.com.

August 5, 2018

Dan Larimer Proposes a New Resource Rental System for EOS Token Owners

In an effort to lower the capital costs of using network and CPU resources on EOS-based blockchains, Dan Larimer has proposed a new EOS resource renting and rent distribution model. The proposal aims to solve the current problem of EOS token holders being unable to lease their unused computational power on the EOS network.

In this proposed model, organizations looking to build decentralized applications on the EOS network may choose to rent the network and CPU resources they need from current EOS token owners, rather than purchasing EOS tokens outright. The rental system would utilize a new token call the Resource Exchange (REX) token. That token would collect fees on computational resources like RAM and EOS account name actions.

Coinbase Custody Considers Addition of EOS to Its Asset Offerings

Coinbase has announced that its institutional custody service, Coinbase Custody, is considering adding EOS and 29 other cryptocurrencies to its asset offerings. Currently, Coinbase Custody only support four cryptocurrencies: Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), and Litecoin (LTC). In his blog post containing the announcement, Sam McIngvale, the Product Lead of Coinbase Custody, clarified that “asset additions to Coinbase Custody have no bearing on whether they will be added to other Coinbase products.”

August 6, 2018

SmartPress Wins EOS Hackathon in Australia

SmartPress, a team of only two men, won the USD 100,000 grand prize of the EOS Hackathon in Australia. SmartPress is a web application that enables users, including those with limited coding and technical experience, to create and deploy smart contracts for existing or new decentralized applications on the EOS blockchain. GreenKeep took second place with its a decentralized application designed to prevent local and global food wastage through supply chain management. Finally TokenTree took third place after it designed a gamified app designed to encourage millennials to protect Australia’s forests by nurturing and tracking tree life cycles. Over 50 teams comprised of 200 contestants competed in the event.

EOS VC Announces USD 1 Million Seed Fund

In addition to awarding over USD 120,000 to hackathon prize winners, Block.one’s EOS VC group announced a new USD 1 million seed funding initiative. The initiative, called “Hack. Pitch. Launch.”, allows hackathon teams to pitch their decentralized applications to EOS VC for a USD 50,000 investment. Five teams from the four hackathon events scheduled for the remainder of the year will receive seed funding.

August 7, 2018

ONO Announces Hiring of EOS Expert and Plans to Build Its Own Mainnet Instead of Launching On EOS

ONO has announced its hiring of EOS expert, John Milburn. According to the company’s press release, Milburn will be responsible for leading a team of 11 individuals working on ONO’s Main Net building project. ONO has decided to fork the EOSIO code and create its own blockchain network after estimating that launching their smart contracts and creating 200,000 new user accounts on the EOS mainnet would cost at least USD 4 million.

Poloniex Announces New EOS Trade Pairs

Poloniex has announced new trade pairings for EOS, which is currently the 4th most traded and 5th largest cryptocurrency market by capitalization. Specifically, those pairs include EOS/USDT, EOS/BTC, and EOS/ETH. While Poloniex has no support for airdrops to EOS owners, the exchange is developing support EOS mainnet tokens.

August 8, 2018

Block.one Accounts for More Than Two-Thirds of All Bug Bounties Thus Far in 2018

According to data from HackerOne, the total sum of bounties handed out by blockchain companies has increased from USD 90,000 in 2017 to almost USD 600,000 thus far in 2018. Block.one has accounted for more than two-thirds of 2018’s bug bounty total with USD 417,000 awarded since May. USD 120,000 of Block.one’s bounty was claimed by one white-hat hacker.

Havven Planning to Launch Its Stablecoin, nUSD, on EOS Network

Havven, an Australia-based blockchain startup developing cross-blockchain payments solutions, has announced its plans to bring its existing stablecoin to the EOS network. Havven is planning to launch its stablecoin, called nUSD, on EOS by the end of 2018. According to the company, nUSD will not be switched exclusively to EOS. Instead, the stablecoin will operate on both networks separately as a “cross-blockchain stablecoin."

August 9, 2018

Market Price of EOS Experiences Largest 24-Hour Decrease Following SEC’s Delayed Judgement on VanEck ETF

The SEC has delayed its ruling on a cryptocurrency-based ETF from VanEck until 30 September 2018. In response to the announcement, the USD value of EOS has decreased by a maximum of 30.75 percent within 24 hours. It was the largest one-day percentage loss EOS has experienced thus far.

Medipedia Announces Plans to Migrate from Ethereum to EOS

Medipedia, a healthcare-focused peer-to-peer matching and consultation services provider, has announced it is migrating its platform from Ethereum to EOS. While Medipedia expressed concerned with the launch of the EOS network, Medipedia acknowledged that EOS offers more potential with scalability and transaction speed than Ethereum currently does. Medipedia also preferred the zero-cost transactions that EOS features.

August 10, 2018

Everipedia Has Not Officially Launched Yet, Despite Circulating Reports

CoinDesk and The Next Web have mistakenly reported that Everipedia has launched its official platform. According to the administrators of the Everipedia Telegram channel, Everipedia has two sites in operation, neither of which is the official platform. One site, https://everipedia.org/, is the pre-blockchain version of Everipedia that is invite only. The other, https://iqnetwork.io/, is a test version of the EOS-based online encyclopedia. The technology behind the second site will be built into the first once development and testing have been completed.

Brendan Blumer To Attend EOS Hackathon in London

Block.one has announced that its CEO, Brendan Blumer, will be attending the EOS Hackathon in London on September 22nd and 23rd. Block.one’s CTO, Dan Larimer, has already disclosed he will also be in attendance as a mentor. Any developers and IT designers may register individually or as a team.