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EOS: WebAuthn to Enable Secure Authentication, Vote to Reduce Inflation From 5% to 1% and Top 10 Innovative Projects

Dear crypto enthusiasts,

It’s the first time we covers biweekly updates of EOS.IO, a blockchain-based, decentralized system that enables the development, hosting, and execution of commercial-scale decentralized applications (dApps) on its platform. EOS software uses Delegated Proof of Stake (DPOS) consensus algorithm as the only one capable to meet the performance requirements. Moreover, it will be lightning fast and able to compete by performance with non-blockchain apps. A lot will be worth observing in the near future as the EOS ecosystem is gaining ground.

During the last two weeks EOS.IO didn’t illustrate high social activity. Firstly, EOS.IO released a WebAuthn Example App to demonstrate the implementation of WebAuthn, a new World Wide Web Consortium (W3C) standard. This standard was accepted and pioneered globally by major technology companies like Yubico, Google, and Microsoft and enables secure authentication supported by all leading browsers and platforms. Secondly, EOS holders voted to reduce the annual inflation rate from 5% to 1%. However, just 2.6% of participants voted for that since poll has started 102 days ago. Finally, the list of top 10 most promising and original projects with the goal of showing the current potential of this blockchain was published. Stay tuned!

Development

Github metrics
Developer activity (from Coinlib.io)

EOS.IO has released a WebAuthn Example App to demonstrate how it intends to implement WebAuthn support for EOSIO.

WebAuthn is a new World Wide Web Consortium (W3C) standard accepted and pioneered globally by many major technology companies like Yubico, Google, and Microsoft, that enables secure authentication supported by all leading browsers and platforms.

EOSIO is the first blockchain protocol to adopt the WebAuthn standard. As a new security standard approved by the W3C, EOS.IO is excited to be pioneering its adoption within the blockchain community.

Bringing this standard to EOSIO opens up the possibility of more secure and seamless transaction signing for blockchain applications built on EOSIO. Rather than worrying about private keys, users will be able to sign transactions using their choice of standard hardware authenticators (rather than Chrome extensions or applications) such as the newly announced EOSIO YubiKey and built-in platform authenticators like fingerprint sensors and other biometrics.

More information about WebAuthn can be found at https://webauthn.guide.

See also:

Social encounters

Azarus, a blockchain game developer, raised $1.8 million from several crypto VC funds including Galaxy Digital (via its Galaxy EOS VC Fund), Kleiner Perkins and SVK Crypto.

The money will fund Azarus’ efforts to build out its game network “smart challenge,” a proprietary Twitch plug-in built on the EOS blockchain, which allows users to compete for digital assets through competitive gaming challenges.

The platform operates by inviting Twitch streamers and their fans to participate in games based around streaming data. Winners are rewarded with tokens that can be redeemed for in-game items, currencies, and other digital assets in the Azarus marketplace.

Additionally, a pilot program will allow select streamers to award tokens to their viewers for correctly answering questions about their streams. Every challenge is notarized on the blockchain, including the data used to execute and resolve it.

Launched in late 2018, the Azarus “smart challenge” platform only operates works with Rainbow 6 Siege streams, with plans to expand to other games.

1. Voice: it will provide an opportunity for users to control their information via native tokens, which are earned through posting and commenting. It is now available for sign up as a beta user.

2. Everipedia: veripedia includes everything Wikipedia has and has much friendlier posting rules. The project is up and running. You can learn how to start using it here.

3. Emanate: Emanate claims to be bringing the music industry to the age of decentralization using the EOS blockchain.

4. Eva: It aims to remove traditional ridesharing companies that are aggregating the mobility economy. It is a cooperative whose general mission is to develop new technologies for urban mobility. The platform they are offering is a liaison between drivers and passengers.

5. InSpace: InSpace would finally bring to life our sci-fi fantasies from the 80s: spatial, 3D from 2D web, and desktop navigation, like on a futuristic spaceship. This bold interface design solution brings options for the truly spatial storage of files and folders. With it, the term “workspace” becomes more literal than ever. There is not much information on the project, which is in early alpha. The full release is planned for Q4 2020.

6. Wordproof: The WordPress plugin enables users to timestamp content onto the EOS blockchain. Content, timestamped in the blockchain, can’t be stolen or faked because you can accurately track it to the original publication. The project’s mission is to help content creators be more transparent and increase the trust of their audiences. A timestamp that makes it virtually impossible for others to claim they posted your stolen article first is a step in the right direction.

7. Bitez.io: It claims to satisfy more mundane needs. They are introducing food delivery to the EOS blockchain.

8. KARMA: KARMA is social media meant for good. Users are incentivized to do good, share positive and cool content, and receive KARMA when their content is up-voted.

9. HireVibes: HireVibes is meant to connect job seekers, employers, referrers, and recruiters on a new job search platform that utilizes the EOS blockchain. The basic idea is to disrupt recruitment agencies as middlemen, create a fair incentive model with reasonable hiring fees, and reward members on HireVibes for successful hires.

10. Free Republic of Liberland: The Free Republic of Liberland, a sovereign nation founded on April 13, 2015, seeks to build an open-source government and has decided to use EOSIO software as the foundation.

Finance

Token holders and number of transactions (information from Etherscan.io)

EOS holders voted to reduce the annual inflation rate from 5% to 1% as of June 1, according to data on the voting platform maintained by EOS Block Producer (BP) EOS Authority.

According to the poll’s description, out of the current 5% of annual EOS inflation, 4% is being accumulated in the eosio.saving account while 1% is distributed among BPs in exchange for network maintenance. About 3.6 million EOS are reportedly created and sent to this on-chain account every month, and this number increases due to compound inflation mechanisms.

At press time, 100% of the 778 account that staked about 27.3 million EOS have been cast in favor of reducing the inflation.

As Cointelegraph reported on June 2, EOS parent company Block.one has announced a blockchain-based social media platform called Voice.

MakerDAO has seen a series of votes to change the so-called stability fee for its Ethereum blockchain-based decentralized stablecoin DAI, most recently lowering it by 2%.

Roadmap

None of the highlights covered in the article have been committed to a release date or a clear roadmap, and Block.one’s work may include significant work that is not relevant to EOS public chains.

What’s next?

The EOSIO Strategic Vision covers 4 main areas of focus:

  • Scalability: More apps, more users
  • Developers: Better tooling, faster app development
  • Users: Greater security, less friction
  • Enterprise: Greater flexibility, better compliance

Partnerships and team members

No updates

Rumours

AnChain.AI is a blockchain startup that uses machine learning and AI to investigate blockchain data. One of these analyses showed that the lion’s share of EOS Dapps transactions were made by bots. What is more, AnChainAI found out that almost half of EOS accounts were created by real users.

Just for the record, same as the most Dapps, EOS Dapps suffers from a few users, and it’s so much for the EOS ecosystem. DappRadar data shows that EOS Dapps have about 1500 users in 24 hours. That information should not catch us unaware. The thing is that EOS transactions have no fees, and this is a fat land for spammers making hundreds of transactions every day.

What is the main purpose for spammers of making fake transactions? Firstly, a Dapp users need extra transactions to achieve high-level results in games. Making such number of transactions manually is almost impossible thus spammers use bots.

What is more, Dapps itself could use bots to become top banana in ratings, thereby attracting new users. Some of the Daps with lots of daily transactions have just a few users. However, such metrics as users activity shows the real success of a Dapp.

Dapps industry keeps developing and needs a lot of time to make it a clockwork. Bots activity is an egg on Dapps face. Either way, this analysis showed that data from Dapp rating websites are not accurate.

Social media metrics

Social media activity
Social media dynamics

EOS.IO showed a slight dynamic in social networks. In general, EOS.IO experiences low to average level of social activity.

The graph above illustrates slight increase in the number of EOS.IO Facebook likes, Reddit subscribers and Twitter followers. The information is taken from Coingecko.com.

This is not financial advice.

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Paradigm is an ecosystem that incorporates a venture fund, a research agency and an accelerator focused on crypto, DLT, neuroscience, space technologies, robotics, and biometrics — technologies that combined together will alter how we perceive reality.

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