Equilibrium’s Stablecoin Now Has $17.5M in Insurance That Pays Out Automatically
Equilibrium will hold 6.5 million EOS tokens in reserve as an insurance policy for users should its stablecoin lose its peg.
EOS is similar to Ethereum in that it is a blockchain platform which allows decentralised apps to be created and developed. The platform should effectively provide its own operating system including cloud storage and has the ability to process one million transactions per second without any fees. A notable distinction is that transaction confirmation is done through a democracy like system where block producers are chosen by the entire EOS ecosystem through voting known as delegated proof of stake (DPoS). Block.one created EOS in September 2017 and it now has over 100 decentralised apps (dapps) with at most 6,000 daily active users.Blockchain 101
Buying votes is a big no-no in traditional democracies, but on the world’s eighth-largest blockchain it’s become an accepted way of doing business.
For the first time in three months, bitcoin’s price is being quoted in five digits to the left of the decimal.
EOS creator Block.one has acquired the team behind once-prominent block producer EOS New York, which has now entirely ceased operations.
In a departure from earlier announcements, the company now says its Facebook rival, Voice, "will be run on a purpose-made EOSIO blockchain."
EOS VC is looking for "world-conquerors and local heroes" for its new grants program.