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Aurora EOS Weekly Update

Happy Friday, everyone! This week I want to talk about how this bear market might affect EOS. In man

Aurora EOS Weekly Update

November 30 · Issue #18 · View online
The Week in EOS.

Happy Friday, everyone!
This week I want to talk about how this bear market might affect EOS. In many ways, this market is tough on everyone. Token price tends to influence public sentiment a lot, and this can have a compounding effect across the ecosystem that dampens enthusiasm. It’s also hard on block producers. Having your revenue depend on the price of a token in one of the most volatile markets on earth is not the easiest way to run a business. If this market continues to decline, we very well may see some BPs be forced to close up shop. The good news is that there are many standby BPs, and the system was designed to withstand this type of situation. The bad news is that even the BPs who stick around may have to cut back the scope of their value-add services for the time being. It will be an interesting time to observe network dynamics. But I want to highlight two reasons why this bear market might ultimately be a good thing.
First, this is a great way to test the resilience of the network early on. Running a BP is a very new business model with no blueprint on how to do it best. We’ve seen many different types of BPs, and this market will give us a sense of which models have the most staying power. It’s better to put the network through this kind of test early on so that we can come out stronger on the other end.
The second is related to governance. The EOS token sale happened throughout mid-2017 to early-2018, the craziest period of speculative mania this industry has ever seen. Many token holders were simply in it for speculation purposes, often keeping their tokens on exchanges and not participating in voting. This precipitous decline in prices has shaken a lot of those people out. I can’t of course confirm this, but I suspect that many of the people buying EOS now have a more long-term outlook and a better understanding of how important active participating in voting is.
I’ve said this many times before, but EOS governance is a work in progress, and it will be for some time. Even many sophisticated, crypto-native investors have yet to realize that voting participation is a requirement to help ensure that the network remains secure and highly performant. Only when we have many different parties with long-term vested interest in the success of EOS as a platform will governance be healthy. But we are seeing positive signs as time goes on; more dApps and businesses built on EOS are taking an active role in governance, and and I think we’ll soon see more participation from token holders with a longer-term outlook. As REX comes online and large token holders realize that they can earn a return on their investment, we’ll likely see participation increase as well.
Finally, we’re seeing more and more buzz about projects launching EOSIO sidechains, and I think this will give us a lot more insight into different governance models and what works best for DPOS chains. It’s a great time to observe, learn, and iterate.
On a final note, we just announced and released our podcast, EOS Voter. Check out the first episode here, and feel free to reach out with any feedback!
Myles Snider, CEO

General Happenings
Deploying to a System Account
Recommended Reading
EOS Platform User Agreement v2.0
Framework for Governing the Chintai Proxy
What Are EOSIO System Accounts and What Do They Each Do?
About EOS Resources – EOSNOVA
Updates and Releases
URGENT: Scatter Release Patch 9.6.1
Ledger Nano S dApp Support
First 15 EOS Tokens Available On Bancor
Voting Proxies on Scatter
Watching and Listening
Introducing the EOS Voter Podcast – Aurora EOS
BP Security and Infrastructure Panel at CryptoFinance Summit
The dApp World
Introducing Nebula Protocol
How to Review an EOSIO Set Code multisig Transaction
Save the Date
Aurora EOS
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