EOS bags another blockchain award, this time for the best protocol

On 31st August, the official Twitter handle of the 5th largest cryptocurrency, EOS announced that the coin was awarded Best in Protocols/Platforms from BlockAward, 2018. BlockAward took place in San Jose, California and is a ceremony that was a part of the BlockWorld 2018.

The BlockWorld conference carried a theme named ‘Developing the Decentralized Cloud’ this year. Furthermore, the topics covered by the conference were The Internet 2/0 & the future of the Web; Ethereum & Smart Contract Development, Innovation; Blockchain, Governance, Compliance; Blockchain & financial technology innovation and dApp development.

About a month ago, the Ministry of Industry and Information Technology, which is a governing body of China released their cryptocurrency ranking index. Here, EOS topped the list with the 2nd largest cryptocurrency Ethereum [ETH] right below it. A similar scenario was projected even in the previous ranking of the governing body where the two coins obtained the top spots.

Regarding the developments in the EOSIO ecosystem, recently, the team on the project found a temporary fix for an existing issue. It was a case of RAM exploitation where a malicious bug was running and stealing RAM on the EOS network. This was done by inserting a large chunk of proxy values into the rows during the process of users sending their EOS tokens across.

At press time, EOS is trading at $6.56 with a market cap of $5.94 billion and has experienced a hike of 5.53% in the last 24-hours. The trading volume of the token across the day has been recorded to be over $897 million. Furthermore, EOS has performed well in the past 24 hours as the price trend is seen to only go upward with minor downturns.

A Reddit user named numecca commented on the news, saying:

“Industry patting itself on the back like the golden globes. Worthless.”

tokenleak, another Redditor replied to numecca’s comment and wrote:

“It may be a pat on the back but the team behind EOS are incredibly passionate individuals working together to fulfill a cause that they are aware is much bigger than themselves. This caliber of collaborative purpose will always win a battle against those whose biggest motivation is self-gain.”

On Twitter, Princess Bubblegum named handle held a distinct view on the matter and commented:

“Who’s giving out awards in a decentralized industry??? Follow up Q: why does this matter???”