EOS Price went up by 27 Percent after the Release of EOSIO 1.0

EOS on the rise after the launch of EOSIO 1.0

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Block.one has released version 1.0 of their long waited open-source blockchain protocol, EOSIO. The Blockchain software developer announced the news through an official blog yesterday June 3rd. EOSIO is a software designed for building applications which will support both enterprise and community-driven levels.

According to the official communication from Block.one they do not guarantee that the software will be free from errors or even whether it will perform as intended. They claimed that developers implemented the platform at their own risk.

The news went on to indicate that Block.one had formed a partnership with SVK crypto which is a blockchain investment firm in order to launch a 50 million fund intended to support the development of one EOSIO ecosystem. More to that Block.one EOS has also completed their year-long token sale which raised a total of 4 billion dollars. This crowdsale is so far the biggest ever ICO.

Qihoo 360 which is the Chinese largest and leading internet security firm detected several numbers of high-risk security problems of the EOS blockchain which would lead to remote attacks on all the EOS nodes. The good thing is that the detected vulnerabilities were fixed and solved the same day they were detected reducing the chances of attacks.

When looking at the top 100 altcoins crypto price according to MarketCoinPrice EOS coin is the most grown in the last 24 hours. EOS is currently the fifth largest altcoin by market cap moving up by 27 percent in just one day and is currently trading at 15.35 dollars.

Cryptocurrency market has had a difficult time this year dropping more than half of its value in just a few months after hitting its all-time high in December 2017. The market is still affected by volatility making the market highly unpredictable which it’s expected to recover and have a bullish run this year.

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