Billionaire Crypto Bull Thiel’s Block.one Seed Shares Reap Staggering 6,500% Profit

Peter Thiel, Block.One

By CCN: Block.one is returning jaw-dropping profits to its earliest investors like Peter Thiel. It’s a stock buyback of epic speed and proportions. In only three years the blockchain startup is buying back shares sold in a seed round of funding in 2017. The ROI for anyone who cashes out will be as much as 6,567%. Where did Block.one come up with all that money in so little time? It executed...

EOS Price Spikes 10% as Block.one CEO Floats ‘Voter Rebates’

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The EOS price on Wednesday posted more than 10% in gains against the US dollar owing to strong fundamentals. The cryptocurrency opened the day at $2.7253 on Bitfinex but dropped during the early Asian session to establish an intraday low towards $2.7066. It briefly bounced back as the course matured and entered the European trading hours, setting fresh high towards $2.8402. Before the US session...

Block.one Vows to Use its EOS Tokens to Prevent Voting Cartels

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When cryptocurrency development firm Block.one concluded its initial coin offering (ICO) and released the first version of the EOSIO software, it didn’t just raise a record ~$4 billion in crowdfunded contributions — it also received 100 million of the 1 billion EOS tokens distributed through the network’s Genesis block. Now, the well-funded blockchain startup is vowing to use those tokens...

Bitcoin Mining Giant Bitmain Opens 20,000 Sq. Foot Office in Silicon Valley

Bitmain Silicon Valley

Bitmain, the cryptocurrency industry’s most valuable company, has just opened an office in Silicon Valley ahead of its planned initial public offering (IPO) later this year. The Silicon Valley Business Journal reports that the China-based cryptocurrency mining hardware manufacturer has just moved into 20,000 square feet of office space in downtown San Jose, CA, filling the last vacancy in the...

$12 Billion Bitmain’s Second Major Investment in 2018 is EOS

EOS Asia

Bitmain, the world’s largest cryptocurrency company valued at $12 billion, and billionaire technology investor Peter Thiel have invested in Block.one, the development firm behind EOS. Jihan Wu, the co-founder and CEO of Bitmain, who is expecting to close a $12 billion initial public offering (IPO) this summer, said in an official statement that the EOS protocol has shown significant innovation...

Billionaire Peter Thiel, Bitmain Lead Investment Round in EOS Creator Block.one

Peter Thiel

Billionaire Peter Thiel and bitcoin mining giant Bitmain are headliners in a star-studded investment round for Block.one, the creator of the EOS cryptocurrency. Billionaires Headline Block.one Funding Round Block.one announced the conclusion of the funding round on Monday, but the firm did not reveal its size or at what valuation it was conducted. In any case, the offering attracted a cadre of...

EOS Might be About to Get a Lot More Centralized


The EOS network, already characterized by critics as one of the cryptocurrency ecosystem’s most centralized projects, could be about to concentrate even more power in the hands of an even smaller number of actors. Block.one to Begin Voting for EOS Block Producers EOS creator Block.one on Thursday announced that it will begin staking its tokens to vote for the network’s 21 block producers, who...

Dan Larimer Releases Draft Proposal of New EOS Constitution


After proposing that the EOS project scrape its original Constitution, as CCN reported earlier today, Daniel Larimer, the creator of EOS, has now released a revised proposal. In the blog release, Larimer clarifies the premise “Code-Is-Law” as it relates to arbitration bodies. When 21 block producer’s froze several EOS accounts one week after the mainnet launch, the original...

Do-Over? Dan Larimer Proposes Scrapping the EOS Constitution

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“I am merely saying that the current constitution is not wise.” With that comment, Daniel Larimer — the creator of EOS — proposed a fundamental restructuring of the fifth-largest cryptocurrency’s on-chain governance model. That governance model has become the subject of much controversy during the early days of the EOS network, as block producers — the entities that verify...

EOS Freezes Seven Accounts Following Mainnet Snafu


EOS, an altcoin blockchain that was halted by a bug that prevented transactions two days after going live, has frozen seven EOS accounts that were subject to a phishing scam, according to a blog on a site called EOS42 on Steemit. Developers discovered the bug that caused the mainnet to pause unexpectedly on June 16 and noted on the Telegram channel that Block.one, the EOS creator, was working on...

Breaking: EOS Blockchain Grinds to Halt as Software Bug Freezes Transactions

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The EOS blockchain has ground to a halt after an apparent bug in the mainnet software caused the network to pause unexpectedly and indefinitely. According to a post from EOS New York published on behalf of the top 21 block producers and standby nodes, the mainnet unexpectedly paused at 9:56 UTC, after which block producers initiated a conference call to identify and discuss the issue. At 10:57...

EOS Mainnet Goes Live as Block Producer Voting Passes 15% Threshold

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The process took nearly two arduous weeks, but the EOS blockchain has officially gone live. According to data from UK-based block producer EOS Authority, the blockchain went live at approximately 17:46 UTC, immediately after block producer voting passed the 15 percent threshold necessary to activate the network. The mainnet had technically launched a week earlier — after the various EOS...

EOS Mainnet Now Two-Thirds of the Way to Activation


The EOS mainnet has still not gone live, but it’s inching closer to activation now that the block producer voting threshold has reached two-thirds of the required participation. As CCN reported, blockchain development company Block.one released the first version of the EOSIO software on June 2 at the conclusion of its yearlong initial coin offering (ICO), which raised the firm $4 billion. More...

Researcher Earns $120k in 7 Days by Exposing Bugs in EOS Source Code

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Software security researcher Guido Vranken had an incredible week this month – he discovered 12 vulnerabilities in the EOS software. Using the bounty platform HackerOne, EOS developer Block.one launched a bug bounty program to improve the product on May 31, 2018, and Vranken took full advantage of it. At the time of writing, HackerOne shows that Vranken earned a total of $90,000, but he wrote on...

Less Than 1% of EOS Addresses Hold 86% of the Tokens


The year-long EOS initial coin offering (ICO) wrapped up last week, and after raising approximately $4 billion Block.one fulfilled its promise to release EOSIO 1.0, the first (and Block.one’s only) version of the EOS mainnet software. Since Block.one will not be participating in the mainnet launch, a variety of other launch groups have taken blockchain snapshots in preparation for distributing...

EOS Price Pumps after Mainnet Release, But This Rally’s Not Quite Organic

eos price

The EOS price rallied 16 percent on Saturday following the release of the blockchain project’s open-source mainnet software, but there’s more to this pump than first meets the eye. EOS Price Makes Market-Leading 16 Percent Rally Today’s EOS price surge came as part of a wider market rally, but the token nevertheless managed to outpace every other cryptocurrency ranked in the top...

EOS Denies Protocol Bugs Will Delay Mainnet Launch


The development team behind EOS said that the recent discovery of what have been described as “epic vulnerabilities” in the blockchain project’s source code will not prevent developers from shipping the software on time. Writing on Twitter, the EOS developers criticized media outlets who reported that the recently-discovered vulnerability — which researchers said would allow an attacker to...

EOS Still Patching ‘Epic Vulnerabilities’ Just Days Ahead of Launch


Highly-anticipated blockchain project EOS is just days away from its scheduled production release, but its development team is still patching what security researchers have described as “epic vulnerabilities” present in its codebase. China-based cybersecurity firm Qihoo 360 on Tuesday reported that it had identified security flaws that would allow attackers to use a malicious smart contract to...

Block.one Responds to John Oliver after HBO Host Ribs EOS in Crypto Segment


OliverBlock.one published an open letter in response to Last Week Tonight host John Oliver after the comedian ribbed the company’s flagship project — EOS — during Sunday’s cryptocurrency-themed episode. John Oliver Ribs EOS, Brock Pierce in Crypto-Themed Episode As CCN reported, Oliver devoted an entire episode to cryptocurrency, a topic which, in his words, “combines everything you...

Block.One ICO Sets New ICO Record with $185 Million in 5 Days


Blockchain startup Block.One has set a new record by raising approximately $185 million in ether, Ethereum’s native token. In doing so, the crowdsale has surpassed the previous record ICO of Bancor which raised $153 million last month. As the developer of the EOS.IO software, Block.One claims to program its software to put businesses on a blockchain by supporting ‘distributed applications that...