Dan Larimer Possible Leaving EOS for New Project: Milestones

Dan Larimer Possible Leaving EOS for New Project: Milestones

Larimer alluded to plans for a new cryptocurrency project which the community said was comparable to Bitcoin and supposed he will leave EOS

The EOS creator and Block.one CTO implied the motional coins to be ‘immutable, non-programmable, and limited to a currency role’. This caused the community to liken it to Bitcoin.

He further holds that the project will not undermine the real-world applications of EOS.

Larimer dubbed the new coin MonerEOS and laid a series of traits the coins will have.

He further holds that the project will not undermine the real-world applications of EOS.

Larimer dubbed the new coin MonerEOS and laid a series of traits the coins will have.

Is He leaving EOS?

Due to the new project, some in the community believes he will be leaving EOS.

But Larimer clarified he is not leaving EOS nor Block.one. In the same message, he stated that he ‘stumbled upon’ the ‘potential crypto token’ while working on the security and scalability of EOS.

What Made Larimer a Controversial Figure?

Dan Larimer’s previous decisions and his tendency to jump from project-to-project made him a bit notorious in the cryptocurrency industry.

2014 — Larimer is the creator of Delegated Proof-of-Stake (DPoS) consensus. DPoS was first applied in BitShares, a decentralized cryptocurrency exchange, and his first project.

BitShares became known for letting exchanges be the biggest block producers.

2016 — Larimer is the co-founder and chief developer of blockchain-based social media Steemit where he took the position of CTO until March of 2017. Recently it was reported that the platform will be laying off 70% of its employees because of the bearish cryptocurrency market.

2017 — After Steemit, Larimer became CTO of Block.one and went on to develop EOS.

2018 — In June, Larimer proposed to reorganize the governance of EOS which was riddled with allegations of being centralized.

In October, he stated in a YouTube interview, ‘Decentralization is not what we’re after.’

EOS

EOS
Price
4.87 USD 1.88%
0.00089290 BTC 1.88%
Volume, 24h
1,463,210,022 USD
-6.40%
Marketcap
4,291,457,758 USD
2.5%
Emission

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EOS Price Could Decline Towards $4.00 Before Fresh Upside

EOS price traded towards the $6.00 level and later corrected lower against the US Dollar. The price declined heavily and broke the $5.08 and $4.90 support levels recently. There is a major bearish trend line in place with resistance at $5.20 on the 4-hours chart of the EOS/USD pair (data feed from Binance). The pair remains at a risk of more losses below the $4.50 and $4.40 support levels in the near term. EOS price started a sharp decline against the US Dollar and bitcoin. The price is currently trading well below $5.00 and it may continue to decline towards the $4.20 or $4.00 support. EOS Price Analysis Yesterday, there was a sharp decline in bitcoin, Ethereum, ripple, litecoin and EOS price against the US Dollar. Earlier, EOS surged above the $5.80 and $5.90 resistance levels. The price even spiked above $6.00 before starting a strong downside correction. It broke the $5.50 support level and the 55 simple moving average (4-hours) to start a substantial correction. Later, there was a break below an ascending channel with support at $5.48 on the 4-hours chart. It opened the doors for more losses and the price declined below the $5.28 and $5.08 support levels. Finally, there was a break below the $4.90 support area and the price recently tested the $4.60 level. A swing low was formed at $4.61 and the price corrected higher. It tested the 23.6% Fib retracement level of the last drop from the $5.49 high to $4.61 low. On the upside, there are many resistances near the $4.90 and $5.08 levels. There is also a major bearish trend line in place with resistance at $5.20 on the same chart of EOS/USD. Therefore, if there is an upside correction, the price could struggle near $4.92 or $5.08. On the downside, an initial support is near $4.60, below which the price could decline below $4.50. The next major support is at $4.20, where the bulls may take a stand. The final target for sellers could be $4.00 before the price starts a fresh upward move. Looking at the chart, EOS price is clearly trading in a bearish zone below $5.08 and $5.20. To start a strong upward move, the price must break the $5.20 resistance. However, a successful close above the $5.28 level and the 55 simple moving average (4-hours) will most likely push the price back in a positive zone. Technical indicators Hourly MACD – The MACD for EOS/USD is gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI declined sharply below the 40 and it is currently just near the 25 level. Major Support Levels – $4.60 and $4.20. Major Resistance Levels – $5.08 and $5.20. The post EOS Price Could Decline Towards $4.00 Before Fresh Upside appeared first on Live Bitcoin News.
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