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EOS is centralized, and that worries Larry Sanger of Wikipedia; price climbs as fresh buyers appear

Bitcoin

EOS is ranked at #8, south of Binance Coin and Tether on coinmarketcap. The price of EOS rose at a rate of 4.74% in the course of the past 24-hours. The trading volume recorded is $1.518 billion, while the supply has 928,602,989 EOS coins in play. The total market cap of EOS is $3.382 billion. As of this moment, EOS is priced at $3.64.

EOSIO functions as a platform for smart contracts, thus allowing dApps to operate effectively. However, since its creation, EOS has attracted criticism due to its problematic model for governance. Dan Larimer has also stated that decentralization is not their area of focus, earning the wrath of many investors.

Most notably, the co-founder of Wikipedia has expressed his grievances on Twitter:

The CIO of Everipedia has since stated that they “are committed to staying with EOS” via a separate tweet.

The voting system is a matter of concern. Brendan Blumer of EOS.IO wishes to incorporate a “one token, one vote” method. Due to the nature of such controversies, the score linked to EOS by Weiss Ratings has been declining with the passage of time.

The candlestick chart for the EOS/USD pair on tradingview points to the prevalence of bearish pressure. Resistance will be felt close to the $4.58 mark, whereas support exists near $3.322. The MACD line just went above the signal line, indicating that a trend change may influence the velocity of the altcoin.

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