EOS dApps Are Grossly Manipulated by Bots: Report   


EOS dApps Are Grossly Manipulated by Bots: Report   
Contents

EOS, the number one dApp Blockchain, boasts a staggering $480 mln weekly transaction volume. However, the report that was recently released by Blockchain research firm AnChain.AI shows the uncomfortable truth – bots are responsible for 75 percent of all transactions.

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Four types of bots

The study has defined four types of bots based on their level of complexity. Simple bots are very easy to spot due to their hyperactive behavior. Those bots that do not want to be detected try to randomize the time intervals of interactions with a certain dApp (a simple bot, for instance, is activated every four hours throughout the week).   

The most advanced (and the most malicious) bots have successfully attacked several popular EOS dApps, thus inflicting damage on the project’s ecosystem. They act like isolated accounts that replicate human behavior.

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Not all dApps

It is worth noting that the most popular EOS dApp definitely stands out from the crowd since it has almost no bot activity. The rest of the top 10 dApps cannot relate – all of them are mostly driven by bots, as the graph below shows.

EOS users and transactions
Some EOS dApps have very few normal accounts, image by AnChain.AI

AnChain.AI doesn’t differentiate between different types of dApps. As reported by U.Today, the lion’s share of the network’s decentralized applications fit into the ‘gambling’ and ‘high risk’ categories.

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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Wall Street Is Extremely Bullish on Facebook’s Cryptocurrency  


Wall Street Is Extremely Bullish on Facebook’s Cryptocurrency  
Contents

Social media juggernaut Facebook is about to launch its Libra cryptocurrency, which, as expected, is currently on everyone’s lips.

According to a recent CNBC report, financial analysts appear to be on the same page when it comes to bullish Facebook predictions.   

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The talk of the town

There is a schism in the cryptocurrency community concerning Facebook’s foray into crypto. While some think that Facebook undermines Satoshi Nakamoto’s vision of a decentralized cryptocurrency, prominent influencers, including Mike Novogratz and Anthony Pompliano, look at the bright side.

On the flip side, major Wall Street players seem to agree that Facebook’s stock will see plenty of love once the company unveils its much-talked-about crypto project.

SunTrust, MoffettNathanson, Bank of America stick with a “buy” rating on Facebook.

MoffettNathanson goes as far as claiming that the Mark Zuckerberg-led company aims to become the biggest e-commerce platform on the planet.

We believe a Facebook cryptocurrency-based payments system could be especially useful in countries with high inflation/unstable banking systems and for cross-country remittances. So, Facebook’s commerce ambitions do not appear to be limited to developed markets. Rather, Facebook has its eyes set on becoming the world’s leading ecommerce platform as well.”

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Not the right company?  

As reported by U.Today, Facebook joined forces with VISA, Paypal, and a slew of other startups that became part of the Libra consortium for a whopping $10 mln fee.

The company itself remains radio silent about its crypto ambitions, but there have been countless reports on that topic since December.

We are about to see a fiat-pegged stablecoin that will be integrated into Facebook, Instagram, and WhatsApp.

After being plagued with huge data scandals, Facebook will probably have a hard time convincing regulators to green-light its new cryptocurrency. Hence, it might be a promising idea, but not the right company to pull it off.

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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