{"id":384632,"date":"2019-06-02T00:31:22","date_gmt":"2019-06-02T00:31:22","guid":{"rendered":"https:\/\/wncen.com\/?p=384632"},"modified":"2019-06-02T20:02:18","modified_gmt":"2019-06-02T20:02:18","slug":"sell-the-news-eos-falls-by-7-after-block-ones-june-1st-announcement","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/eos\/sell-the-news-eos-falls-by-7-after-block-ones-june-1st-announcement\/","title":{"rendered":"Sell The News: EOS Falls By 7% After Block.one’s June 1st Announcement"},"content":{"rendered":"

Block.one’s June 1st (B1June) live stream has just been unveiled, and EOS<\/a> is dumping. In a classic case of “buy the rumor, sell the news”, the crypto asset has fallen by 6.5% since the event occurred. This shouldn’t exactly be surprising, as the cryptocurrency rallied by 40% in the past week in anticipation of a massive announcement set to revolutionize the blockchain world.<\/p>\n

EOS Dumps After Block.one Keynote<\/strong><\/h2>\n
Earlier today, we reported that Block.one, the company behind EOS’ development and subsequent public sale, intended to launch a blockchain-based social media platform. In the keynote that was published just an hour ago, this was revealed to be true. Brendan Blumer, the chief executive of Block.one, opined:<\/p>\n
\u201cYou just can\u2019t read a house when the foundation is crumbling. Social media was created to use its users. Right now, it\u2019s the companies, not the users that reap the rewards. They auction our data to the highest bidder and flood our feeds with hidden agendas\u2026 We\u2019re leveraging the EOS blockchain to create a social media platform that is more aligned with the world\u2026 The value of good content gets circulated to sustain the community.\u201d<\/p><\/blockquote>\n
Launching shortly into beta, Voice will be a \u201ctruly self-sustaining\u201d social media economy where both the platform itself and the users benefit. There will be no data collection, nor wanton advertisement targeting. To do this, Block.one<\/a> is launching the fittingly-named Voice Token, which can only be created by interacting in the social ecosystem. The EOS-based crypto asset will allow users to “make their voice heard”, giving holders the opportunity to signal boost their messages and media.<\/p>\n
Related Reading: Bloomberg: Block.one\u2019s Launching an EOS-Based Crypto Social Network<\/a><\/h6>\n
What was also announced was that Block.one has collaborated with Coinbase to bring EOS to Earn, giving users in over 19 countries the ability to collect $10 worth of the cryptocurrency by watching videos and consuming educational content. And, Dan Larimer, the chief technology officer of Block.one, also unveiled EOS VM, a new protocol that will allow for processes on the blockchain to purportedly be 12 times faster than it was just one year ago.<\/p>\n
Many have already begun to express their distaste in regards to the announcements (or lack thereof), taking to Twitter. Prominent entrepreneur Justin Wu, for instance, noted that what was unveiled was “underwhelming”, hence why the value of EOS has dropped so rapidly.<\/p>\n
\n
Just keeping it real — underwhelming lol<\/p>\n
— Justin Wu (@hackapreneur) June 1, 2019<\/a><\/p><\/blockquote>\n