EUA Agreement to Replace EOS Constitution

Block producers still retain a dominant role in management
17 April 2019   174

21 out of 30 EOS block producers have signed a User Agreement (EUA), which will replace the interim network constitution as a guideline document. At the same time, block producer will retain a dominant role in management. It is reported by the CryptoDaily.

The new agreement, in particular, will replace the EOSIO basic arbitration forum (ECAF) mechanism, which proved its inconsistency under the previous constitution, the system could not cope with a huge number of arbitration cases and most of them remained unexamined. In addition, ECAF solutions could not be implemented without the approval of the manufacturers of the blocks, which is why key issues remained in limbo.

The EUA is expected to create the basis for the functioning of the EOS network as a representative democracy, since the turnout of tokens holders in referendums does not constantly reach the established 15% threshold.

It is worth noting that the turnout in the EUA referendum was also below the threshold level - 1.7% - and therefore the block producers made the final decision to abandon the interim constitution.

Scale of powers of manufacturers of units has been discussed since the launch of the EOS network. For example, some experts are convinced that the network’s delegated share proof mechanism (DPoS) is contrary to the principles of decentralization.

In June 2018, Project Chief Technical Officer Dan Larimer proposed limiting the powers of arbitrators to address issues related to differences between the Code and intentions, as well as the processing of vulnerabilities and code breaks.

South Koreans to Invest in Crypto Actively

In addition to the investment amounts, the share of those interested in investing in digital assets also increased
22 April 2019   80

The average amount of investments in cryptocurrency from South Korean invesetprs is $ 6,100, which is 64% more than last year, Cointelegraph reports.

According to a survey conducted by the Korean Fund for the Protection of Portfolio Investors, in addition to the investment amounts, the percentage of those interested in investing in digital assets also increased. Thus, 7.4% of the 2500 respondents have already acquired cryptocurrency (last year there were 6.4% of those). It is noteworthy that this figure has increased, despite several major break-ins of the South Korean crypto exchange, as well as tougher regulation of the industry.

Analysts connect the market with a recent bitcoin price jump and hope for a new bull rally.

Recall recently it became known that 94% of trust capital funds invest in cryptocurrency.