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Block.one to Provide over US$1.5 million in Grants to Promising Businesses Built on EOSIO

EOS VC, the venture capital arm of blockchain software company Block.one wants to make it possible for more EOSIO ideas to become tangible innovations and is now accepting applications for its Grants Program.

According to a press release on Dec. 17, the Grants Program is designed to drive growth in the EOSIO ecosystem by welcoming active EOSIO community members as well as those nurturing up-and-coming projects using the protocol and the grants are awarded with no ownership conditions. Recipients who qualify will be awarded the equivalent of US$50,000 each to complete milestones related to the advancement of the EOSIO ecosystem.

Brendan Blumet, CEO, Block.one said, “Since the EOSIO software was released in 2018, Block.one has supported the collaboration that has helped fuel the growth of the community of users and developers in all corners of the world. We continue to be inspired by the passion we see from innovative blockchain companies that promote the global entrepreneurial spirit of our community. Through the EOS VC Grants Program, we intend to identify and empower even more people to further enrich the ecosystem with fresh ingenuity and imagination.”

Through direct investments as well as via holdings through its partner funds, EOS VC is invested in projects that have built or intend to build on the EOSIO protocol. Its current portfolio spans a wide breadth of investments which now include Alpha’a, Biscuit, CAPSL, Obsidian Labs, Persollo, Sprout Records, among others.

Image via Shutterstock

Google Cloud Joins EOS Blockchain Network as a Block Producer Candidate

Google Cloud will join the EOS community and has begun the process of becoming a block producer candidate for Block.one’s EOS network.

According to an email shared with Blockchain.News on Oct 6, tech giant Google’s hyperscale cloud and infrastructure provider, Google Cloud, is set to join the EOS community and is taking steps to become a block producer for the public blockchain network built on the EOSIO blockchain protocol.

What is a Block Producer?

Block producers are a core component of the EOS network. According to the EOS white paper, the blocks in the EOS.IO software will be produced by 21 producers which are called “Block Producers”. EOS architecture uses Delegated Proof of Stake (DPOS), which creates blocks through trusted accounts (also called “trustees”) that are selected by the community. The features of DPOS include short block production time, high efficiency and almost no chance of forking.

All the EOS token holders in the EOS mainnet vote for 21 trusted accounts to make decisions for them and act as Block Producer. The top 21 Block Producer Candidates with the most votes are selected as Block Producers.

Having a giant of technological innovation like Google Cloud apply to become a block producer on a public blockchain network like EOS underscores the importance of blockchain to the future of business, government and society.

Allen Day, Developer Advocate for Google Cloud confirmed the application for block producer candidacy. He said:

“As organizations begin to incorporate distributed ledger technology into their infrastructures, we are committed to ensuring that the information on public blockchains are securely stored, reliably available, and can be accessed in meaningful ways.”

As mentioned, as a block producer candidate, Google Cloud will need to be selected by token holders to secure a position within the block producer ranks on the EOS network.

Brendan Blumer, CEO of Block.one expressed his excitement in having the opportunity to assess Google’s candidacy. Blumer said:

“The Google Cloud team understands the thriving EOS community and the highly performant EOSIO technology on which it builds create the best entry point into the blockchain industry. We welcome Google Cloud to the EOS community and are excited for their contributions to the EOS network.”

In joining the EOS community Google Cloud will provide its highly provisioned, low-latency infrastructure to Block.one. Dan Larimer, CTO at Block.one explained:

“Through secure oracles, inter-chain transaction reporting, key management, and high-integrity full-node validation, Google Cloud’s confidential computing infrastructure will enhance the security, scalability, and decentralization of blockchain technology.”

Block.one Launches EOSIO for Business as PwC Makes $1.76T 2030 Blockchain GDP Prediction

Block.one today announced a new suite of enterprise service offerings designed to help organizations integrate blockchain-based solutions into their operations. The announcement comes following a recent PwC report that predicts blockchain has the potential to boost global gross domestic product (GDP) by $1.76 trillion.

According to an email shared with Blockchain.News, the four new offerings will leverage Block.one’s performance-focused EOSIO software and will include Blockchain-as-a-Service (BaaS), consulting, technical support, and training and certification programs.

PwC Predicts Huge Growth For Blockchain

While blockchain is most known as the underlying infrastructure supporting cryptocurrencies, PwC experts reviewed other key advantages of the distributed ledger technology (DLT).

Five case scenarios in which blockchain could be used to drive the digital revolution forward included provenance – the tracking and tracing of products and services – payments and financial services, identity management, and the application of blockchain in contracts and dispute resolution as well as customer engagement.

Speaking about the potential ways blockchain technology could be used, Steve Davies, a Partner and Blockchain Leader at PwC UK, said:

“Blockchain technology has long been associated with cryptocurrencies such as Bitcoin, but there is so much more that it has to offer, particularly in how public and private organisations secure, share and use data.”

The analysis evaluated blockchain technology’s potential across different industries, from healthcare, government and public services to finance, logistics, retail, and more.

According to PwC analysts, Asia stands to reap the most economic benefits from blockchain technology over other continents.

In terms of countries, China and the US were designated as the ones that could potentially gain the highest net benefits from blockchain, estimated at $440 billion and $407 billion respectively, according to data from PwC. The net benefits of five countries, notably Germany, Japan, the UK, France, and India were also calculated to surpass $50 billion.

Overall, across all sectors, the public administration, healthcare, and education industry appears to be the biggest beneficiaries, with PwC expecting them to gain approximately $574 billion by 2030 through using blockchain for identity and credentials.

Blockchain Enterprise Entrance

As enterprise digital transformation continues to drive corporate growth, organizations are exploring blockchain-based solutions for more reliable, secure and transparent data infrastructure.

The accelerated interest and adoption of the technology has left a growing gap in both technical expertise and resources needed to effectively incorporate blockchain solutions. Block.one’s EOSIO for Business is focused on closing this gap with simple yet powerful solutions.

Block.one Chief Operating Officer Ted Cahall:

“Despite knowing the inherent benefits that blockchain will deliver to their business operations, many in-house product engineering teams are wary of the complexity involved in setting up and administering their own blockchain […] Our EOSIO for Business customers will be able to work directly with EOSIO experts to ensure that their implementations seamlessly integrate with existing technology, and they will also have exclusive access to the newest EOSIO features and upgrades – all of which will enable in-house teams to focus on other business priorities while still benefiting from the reliability and security of their new blockchain systems.”

The four major components of EOSIO for Business include:

EOSIO Premier Technical Support: Enables companies to easily identify support tiers that suit their needs in outsourcing troubleshooting and technical assistance in order to launch and maintain operations for an EOSIO implementation.
EOSIO BaaS: An automated blockchain platform, fully managed by Block.one, allows companies to leverage blockchain technology without having to dedicate internal resources to ongoing maintenance.
EOSIO Consulting: Offers direct access to EOSIO engineers to empower developers to better identify, architecture, and implement solutions through first-hand exposure on how to design and implement EOSIO smart contracts.
EOSIO Training and Certification: Comprehensive courses covering the foundations of EOSIO including smart contract programming, auditing and the best security practices for integrations.

Clients are already benefiting from Block.one’s enterprise support. Mythical Games, the game technology studio on the Forbes “Disruptive Technology Companies to watch” list, uses EOSIO for Business services to create digital ecosystems around player-owned economies.

Rudy Koch, Co-founder and SVP of Business Development at Mythical Games said:

“At Mythical, we are redefining game economies and creating new revenue opportunities by putting more power and ownership in the hands of players and content creators […] EOSIO is an integral part of our efforts. Leveraging Block.one’s EOSIO BaaS service enables us to continue delivering world-class game technology products to our players and partners.”

EOS Price Analysis- April 1, 2021

Bitcoin has rebounded strongly from around $51K to around $59K in the past week. It has led altcoins to surge as well, including EOS.

EOS is a next-generation, open-source blockchain protocol with industry-leading transaction speed and flexible utility. The altcoin, once listed in the top 10 of the crypto market before, is ranked 26th with a market cap of $4,697,429,771.

EOS token, following a 31.55% spike in the last seven days, had recovered its losses and broken through the previous downward trend. At the time of writing, this altcoin is trading at $4.93.

EOS Price Analysis

Source: EOS/USDT Daily via TradingView

Yesterday’s candlestick showed a long lower shadow pattern, which proved that the bears wanted to suppress the price downward, but the bulls continued to buy the dips, pushing the price higher than the opening price.

The transaction prices of EOS/USDT for recent days were much higher than the Exponential Moving Average ribbon. It proves that EOS has jumped out of the previous downward trend.

The Relative Strength Index (RSI) indicator and the upward sloping Exponential Moving Average ribbon indicate that the bulls are currently dominating the market for EOS.

Judging from the MACD chart, the blue MACD line and the yellow Signal line have been hovering near the zero axes for a long time since March 10. But the current situation has changed as the blue MACD line has been bent upwards with a bullish crossover.

EOS’s price is expected to hit the resistance level of $5.60. If the bulls successfully break this resistance level, the next level for the market’s bulls to aim for could be the $8.00 point.

However, if a large number of sell orders are triggered, then EOS/USDT will likely retest the 20 day-Exponential Moving Average of $4.19 support level. If the bulls fail to defend $4.19, then the $3.64 resistance will be tested.

EOS Network Foundation Urges Community to Reject $22 Million Block.one Settlement

In a current class action lawsuit in the United States, the EOS Network Foundation (ENF) has openly pushed the EOS community to reject the proposed settlement with Block.one, the business that created the EOS blockchain. On August 8, 2023, the information was published on the ENF’s official Twitter account.

The EOS Network Foundation is a group with the mission of using decentralization to plan a coordinated future for the EOS Network as an agent of good in the world.

Details of the Settlement

The proposed settlement pertains to the ongoing class action against Block.one, and details can be found at the settlement website. The settlement amount is $22 million, a figure that the ENF has criticized as being inadequate.

According to the ENF’s statement, “The proposed settlement amount of $22 million represents a tiny fraction of the $4 billion that Block.one raised from the community in its ICO sale and the $1 billion that Block.one promised to invest in the EOS Network and community, but failed to do.”

ENF’s Stance

The ENF has expressed strong dissatisfaction with the terms of the settlement, stating that it does not adequately compensate community members for losses suffered due to Block.one’s “misrepresentations and bad acts.” Furthermore, the ENF emphasizes that the settlement would bar class members’ rights to seek fair and just resolution to their claims in the future.

The ENF’s statement further reads: “$22 million is too small a price for Block.one to pay to avoid having to be held to account for their bad acts in the future.”

Call to Action

The ENF is urging community members to opt out of the settlement, sending a message to Block.one and the court that the settlement is inadequate. The deadline to opt out is August 29, 2023. Failure to opt out by this date may result in automatic inclusion in the class, impairing future rights to bring a claim against Block.one.

EOS community members who wish to opt out of the settlement can do so by completing the web-form located at this link.

What Happend Before The Call

The ENF’s call to reject the settlement comes in the context of ongoing legal disputes with Block.one.

Block.one is being sued by the ENF for “failing to follow through on its $1B commitment,” according to an announcement made by ENF founder and CEO Yves La Rose on July 25.

On January 31, 2023, U.S. court rejected Block.one’s $27.5 million settlement offer to main plaintiff Crypto Assets Opportunity. The $22 million settlement that is now being sought relates to a different class-action case that has been ongoing for some time.

La Rose has been outspoken about the difficulties the EOS community is experiencing as a result of Block.one allegedly not honoring its investment pledges. In May 2023, he initially advocated for a class-action lawsuit against Block.one, claiming that the firm had broken its pledge to give EOSIO developers $1 billion from the EOS initial coin offering (ICO) which Block.one raised $4.1 billion in 2018.