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EOS (EOS) With Another Hackathon In Sydney After Honk Kong’s, Calls For Technical Mentors

The market looks favourable and EOS, the world’s fifth largest cryptocurrency by market capitalisation, is enticing its community and developers, who are avid lover and contributor to the cryptocurrency, by staging another Hackathon Event where bounties would be won.

Previously, a Hackathon event took place in Hong Kong, and now, the cryptocurrency is announcing an impending Hackathon which will take place in Sydney.

EOS, in a release made known that through the event, it will be welcoming applications from developers who are willing volunteer as Technical Mentor at the event come August 4–5.

The Cryptocurrency with widely appreciated use cases stated that to be a potential applicant, one would have been following the development and launch of EOSIO, have DAPP which is already working on the platform, and lastly understand everything about “cleos,” “nodeos” and “keosd”.

For interested applicants, a link which is directed to EOS Hackathon Website where Mentor Application Form would be filled out was included in the release.

Benefits Of Applying For The Event.

  • For every selected applicants, hotel and airfare expenses from the applicant location to Sydney and back will be covered by the foundation.
  • Another vital importance of being a part of the event is that selected applicant will have the privilege to discuss about the platform and educate others building innovative projects on EOSIO.
  • As a mentor one would be entitled to various numerous rewards.

Since the event is not the first of its kinds, other benefits enjoyed at the hackathon event in Hong Kong will also be made available.

EOSIO Hackathon Event In In Hong Kong

Earlier, on June 10, EOS announced that it will kick-start the EOS Global Hackathon series in Hong Kong, and will be the one launching it.

At the event where 90 teams displayed their work for appraisal, top three teams walked away with cash prizes and stood the chance of being a competitor at the final where US$500,000 would be won.

Return Of Cryptocurrency.

Cryptocurrency is now having a rebound. There is hope that EOS will also enjoy from this massive increment in value.


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EOS Showcases Proper Governance by Freezing 7 Accounts After MainNet Hiccup

The countries of Greece, Britain, the United States and several other nations, have forever been embattled in the claim that each is individually the oldest democracy in the world. If these countries cannot accept in a democratic manner, as to which is the oldest democracy, then it is easy to understand the current growing pains being experienced by the EOS (EOS) Community. The platform was launched less than a week ago on the 10th of June. Therefore, decentralization is not 100% functional.

With the launch of the platform came the delay in voting brought about by lack of reaching the 150 Million EOS tokens needed for staking. Eventually, the community managed to elect 21 block producers and the platform went live on the 14th of June. But two days later, the network would experience a freeze due to a software bug., the EOS creator, was then reported to be working on creating a patch for the bug. What then proceeded, is that the block producers held a conference call to discuss the problem and how to solve it without compromising the rest of the token holders.

The decision was then reached that the block producers would lock seven compromised accounts. These accounts could potentially allow ‘thieves’ to misappropriate funds on the platform due to the bug.

This action seemed like an overstep of their mandate and throwing decentralization out the window. But during difficult times, comes the need to make quick executive decisions. Block producers are meant to be executors of discussed and voted decisions, and not decisions makers. But given that the EOS constitution has not been ratified, it is within their powers to act as they did.

This scenario can be compared to the well thought out water landing of the US Airways Flight on the Hudson River by Captain Sullivan. He took control of the aircraft and acted to the best of his ability. So did the EOS block producers with respect to how they handled such ‘a young democracy’ on the blockchain.

EOS42 issued a statement on Steemit about the Block Producers decision to Freeze 7 EOS accounts. In the statement, the following was said acknowledging the difficult decision:

Given the time sensitive nature of this case, Block Producers debated this difficult decision for over two hours today on a call. On the one hand we could protect token holders, on the other this on the surface appears a dramatic overstep of our role in the constitution and BP agreement, which is to be the executor only of arbitration decisions, not to also be judge and jury.

However, the following was added to explain why the decision was reached to freeze the 7 accounts.

…our own conclusion is that if a ratified EOS constitution and arbitration was in place, then it would indeed be a fundamental overstep of Block Producers to do more than action arbitration decisions. However this is not currently the case, so the question was whether we would freeze the tokens on 7 accounts identified as already unlocking (meaning potential thieves could appropriate funds in under 24hrs), to subsequently enable ECAF when able to review and pass a ruling – and protect token holders to the best of our ability.

The Block Producers went ahead to eventually freeze the said 7 accounts. They also emphasized a need to ratify the said constitution because without an agreed ‘document’, democratic rulings during critical events will continue being a challenge. Up until the constitution is ratified, the block producers have the mandate to make tough executive decisions. This is an example of good governance by the 21 Block Producers.

Disclaimer: This article is not meant to give financial advice. It is an opinion piece. The opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.