The eighth largest by market capitalization coin EOS only last week fell by at least 50 percent. This is partly due to global bearish sentiment in the stock market. The situation correlates with the increasing number of Ghost accounts and hacker attacks on the blockchain, which is often called “killer Ethereum”.
EOS was launched on the public blockchain to develop, host and run decentralized applications, or DApps. Of course, EOS attracted a lot blockchain startups with their decentralized applications. Also, the blockchain shows a quite high level of network activity, despite the drop in coin prices.
How EOS came to success
According to the resource 8btc for the last five months of the EOS network created two hundred applications a half-million user base. According to Blockchain Truth, the daily volume of trading on the EOS 14.5 million dollars. However, it should be noted that the predominant number of applications fall in the category of gambling.
During the recession of the hype on gambling FOMO3D the volume of transactions in the decentralized applications on EOS exceeded one million dollars. The figure was ahead of Ethereum, where the volume hardly gets to 500 thousand.
EOS are vulnerable to attack by hackers
However, cybersecurity experts from Peckshield said that among 500 thousand users about 120 thousand accounts belong to certain groups. And as of November 26, more than 200 thousand accounts are not used. Thus, active users make up only 37 percent of the total number of accounts.
Moreover, the blockchain EOS were exposed to a series of hacker attacks. It was recorded at least 27 incidents of burglary DApp, in which hackers stole tokens EOS for $ 1.2 million.
Security expert Guo Yong gang said that the majority of attacks associated with accidental vulnerabilities, not errors in the blockchain. He did not exclude the increase of such incidents, as there is an assumption that to identify weaknesses purposefully, a special team of hackers.