Cryptocurrency EOS puts market recovery at risk
As we wrote in yesterday’s review, the value of the cryptocurrency continued to fall, going in a stage of correction after the recovery observed last week, the positive news about the unification of the rules regulating the cryptocurrency market in the countries “the Big twenty” G20, which plans to join South Korea.
Bitcoin is trading at $6692, decreasing by -1,24%, Ethereum, $463.52, decreasing by -4,48%, Ripple (XRP) fell -3,22% and reached the level of $0,4631.
The largest drop of the TOP 10 cryptocurrencies in the Coinmarketcap shows a version cryptocurrency EOS, which fell on -11,23% per day. Such dynamics cryptocurrency EOS, whose ICO for the year attracted more than $ 4 billion of investor funds due to the failure in the network.
In EOS New York officially confirmed the news about the crash, saying that the day before yesterday, July 8, node of certain manufacturers of power has suspended work because of reaching the memory usage over 1 GB on the blockchain EOS.
As a clarification, the “nodes” in the cryptocurrency world as any computer that is connected to the network blockchain is its component, it stores information and it is involved in building chains of data.
Accordingly, not all the miners were able to support the work of the network. The reason for this failure was the incorrect configuration of basic parameters producing nodes EOS.
The EOS project has long caused a lot of controversy and criticism, especially after the end already mentioned ICO “worth” $4 billion, and the finished product is, to put it mildly, “lame”. If EOS will continue to show the next error, and will not establish an effective work, it will put additional pressure on the entire cryptocurrency market since “cast a shadow” on the entire industry, demonstrating that the fundraising and the confidence of investors in ICO was a mistake.
“International Financial Center”