{"id":385555,"date":"2019-06-10T07:00:48","date_gmt":"2019-06-10T07:00:48","guid":{"rendered":"https:\/\/wncen.com\/?p=385555"},"modified":"2019-06-10T06:48:37","modified_gmt":"2019-06-10T06:48:37","slug":"eos-tumbles-20-2-after-weiss-ratings-assessment","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/eos\/eos-tumbles-20-2-after-weiss-ratings-assessment\/","title":{"rendered":"EOS Tumbles 20.2% After Weiss Ratings Assessment"},"content":{"rendered":"<ul>\n<li><em>EOS falls 20.2 percent<\/em><\/li>\n<li><em>Weiss Ratings is concerned about EOS centralization<\/em><\/li>\n<\/ul>\n<p><em>The Delegated Proof of Stake consensus necessitates voting. With voting, users can choose validators or Block Producers. However, Weiss Ratings now says because of this, there is \u201cserious problems with centralization.\u201d Meanwhile, EOS is down 20.2 percent from last week\u2019s close.<\/em><\/p>\n<h2>EOS Price Analysis<\/h2>\n<h3>Fundamentals<\/h3>\n<p>The decision to adopt a consensus algorithm that is flexible, delivering <a href=\"https:\/\/wncen.com\/2019\/06\/01\/bloomberg-block-one-eos-crypto-social-network\/\" target=\"_blank\" rel=\"noopener noreferrer \">Block One<\/a>\u2019s objectives did ruffle some feathers. Behind every blockchain project that seeks to launch its mainnet is the desire to meet the conditions of the blockchain Trilemma.<\/p>\n<p>These conditions are smooth to the eye but meeting them is an arduous task, a near impossible feat. Therefore, creators must make a decision. Considering their overall goals, Block One went for a blend of <a href=\"https:\/\/wncen.com\/2018\/07\/11\/neo-targets-large-scale-enterprises-with-new-high-scalability-platform\/\" target=\"_blank\" rel=\"noopener noreferrer \">scalability<\/a> and security over <a href=\"https:\/\/wncen.com\/newsbtc_video\/iota-aims-for-decentralization-will-it-have-an-iota-of-success\/\" target=\"_blank\" rel=\"noopener noreferrer \">decentralization<\/a>.<\/p>\n<p>Consequently, that demanded the activation of the delegated proof of stake, a cousin of the more popular proof of stake that Ethereum will leverage on after Serenity. It is from there that they had to take all the heat and criticism arising from their decision.<\/p>\n<p>With an architecture comprising of 21 elected <a href=\"https:\/\/wncen.com\/2019\/02\/27\/eos-blockchain-scaling\/\" target=\"_blank\" rel=\"noopener noreferrer \">Block Producers<\/a> tasked with validation, governance, and security, the network is vulnerable. There is a chance that malicious elements can aim at these block producers, crippling the system.<\/p>\n<p>As a result of this, <a href=\"https:\/\/wncen.com\/2019\/03\/27\/weiss-rates-ripple-and-eos-best-time-to-invest-could-be-very-near\/\" target=\"_blank\" rel=\"noopener noreferrer \">Weiss Ratings<\/a>, the American rating firm, is downgrading EOS and blasting the digital asset saying it has \u201cserious problems with centralization.\u201d Subsequently, because this level of \u201ccentralization\u201d is severe, it is degrading its technology score to an A-.<\/p>\n<h3>Candlestick Arrangements<\/h3>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-385556\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/EOS-Daily-Chart-June-10.png?resize=1366%2C768\" alt=\"EOS\" width=\"1366\" height=\"768\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/EOS-Daily-Chart-June-10.png?w=1366 1366w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/EOS-Daily-Chart-June-10.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/EOS-Daily-Chart-June-10.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/EOS-Daily-Chart-June-10.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/EOS-Daily-Chart-June-10.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/EOS-Daily-Chart-June-10.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>At the time of writing, <a href=\"https:\/\/wncen.com\/2019\/06\/02\/sell-the-news-eos-falls-by-7-after-block-ones-june-1st-announcement\/\" target=\"_blank\" rel=\"noopener noreferrer \">EOS<\/a> is changing hands at $6.20. Even though traders and investors are optimistic, EOS is clearly under pressure. Not surprising, the coin is down 1.8 percent and 20.2 percent in the last 24 hours and week respectively.<\/p>\n<p>All the same, that is not to say bears are in control. From the chart, it appears that EOS is pulling back after a steady rally. Presently, the first level of support is at the 4-month trend line.<\/p>\n<p>Depending on the level of participation that will either force a reaction or a dump at around $5.5, traders will either exit their longs or ramp up.<\/p>\n<p>Note that any drop below $5.5 could see EOS complete the breakout retest at $4.5. However, a bounce back amid high trading volumes is a precursor for $9.5 and $12 for aggressive traders.<\/p>\n<h2>Technical Indicators<\/h2>\n<p>Trading volumes are shrinking. Anchoring this trade plan is May 27th candlestick with 10 million. Any candlestick breaking, reversing at the main support trend line or from $5.5 must be with high participation ideally exceeding 10 million. Such a printout will signal either trend continuation or correction in a retest as aforementioned.<\/p>\n<p><a href=\"https:\/\/www.tradingview.com\/\" rel=\"nofollow\"><strong><em>Chart<\/em><\/strong><\/a><strong><em> courtesy of Trading View. Image Courtesy of Shutterstock<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>EOS falls 20.2 percent Weiss Ratings is concerned about EOS centralization The Delegated Proof of Stake consensus necessitates voting. With voting, users can choose validators or Block Producers. However, Weiss Ratings now says because of this, there is \u201cserious problems with centralization.\u201d Meanwhile, EOS is down 20.2 percent from last week\u2019s close. EOS Price Analysis Fundamentals The decision to adopt a consensus algorithm that is flexible, delivering Block One\u2019s objectives did ruffle some feathers. Behind every blockchain project that seeks to launch its mainnet is the desire to meet the conditions of the blockchain Trilemma. These conditions are smooth to the eye but meeting them is an arduous task, a near impossible feat. Therefore, creators must make a decision. Considering their overall goals, Block One went for a blend of scalability and security over decentralization. Consequently, that demanded the activation of the delegated proof of stake, a cousin of the more popular proof of stake that Ethereum will leverage on after Serenity. It is from there that they had to take all the heat and criticism arising from their decision. With an architecture comprising of 21 elected Block Producers tasked with validation, governance, and security, the network is vulnerable. There is a chance that malicious elements can aim at these block producers, crippling the system. As a result of this, Weiss Ratings, the American rating firm, is downgrading EOS and blasting the digital asset saying it has \u201cserious problems with centralization.\u201d Subsequently, because this level of \u201ccentralization\u201d is severe, it is degrading its technology score to an A-. Candlestick Arrangements At the time of writing, EOS is changing hands at $6.20. Even though traders and investors are optimistic, EOS is clearly under pressure. Not surprising, the coin is down 1.8 percent and 20.2 percent in the last 24 hours and week respectively. All the same, that is not to say bears are in control. From the chart, it appears that EOS is pulling back after a steady rally. Presently, the first level of support is at the 4-month trend line. Depending on the level of participation that will either force a reaction or a dump at around $5.5, traders will either exit their longs or ramp up. Note that any drop below $5.5 could see EOS complete the breakout retest at $4.5. However, a bounce back amid high trading volumes is a precursor for $9.5 and $12 for aggressive traders. Technical Indicators Trading volumes are shrinking. Anchoring this trade plan is May 27th candlestick with 10 million. Any candlestick breaking, reversing at the main support trend line or from $5.5 must be with high participation ideally exceeding 10 million. Such a printout will signal either trend continuation or correction in a retest as aforementioned. Chart courtesy of Trading View. Image Courtesy of Shutterstock<\/p>\n","protected":false},"author":384,"featured_media":347585,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16892],"tags":[10599,4771,10598,12346],"class_list":["post-385555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-eos","tag-block-one","tag-centralization","tag-eos","tag-weiss-ratings"],"acf":[],"yoast_head":"\n<title>EOS Tumbles 20.2% After Weiss Ratings Assessment<\/title>\n<meta name=\"description\" content=\"Behind EOS is Block One and their goals of rivaling, even replacing Ethereum. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. 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