HelloEOS and EOS community partners kicked off a national roadshow themed on "EOS and its Friends" in Hangzhou, China on July 27. The registration for the meetup in Hangzhou also started at the same time. The national roadshow will be organized in Hangzhou, Beijing, Shanghai, Guangzhou, Shenzhen, Chengdu and Xiamen, with the aim to share the EOS knowledge and the concept of EOS ecosystem with the public, making more people learn about EOS and encouraging more people to participate in the EOS ecosystem development.
The boundary between sidechains and forks are not clear-cut", said Zicen, the founder of HelloEOS, in a dialogue program with the Bitpie Wallet. A true EOS sidechain should at least recognize the EOS genesis snapshot, value the contributions made by Block.one and BM, protect the rights of the token holders, and respect the will of the community. The Bitpie Wallet said that, as a supporter and participant of the EOS ecosystem, it will be more actively involved in the EOS ecosystem development in the future.
The technical team of HelloEOS updated the EOS node version to the mainnet 1.1.1. The release of v1.1.1 provides critical security updates previously disclosed to existing EOSIO-based blockchain custodians as well as non-critical security updates. The BP periodic BPs Zoom meeting this week discussed the process of referendum and updates.
EOS Authority conducted two respective votes to "increase RAM" and "reduce RAM requirements when sending tokens" on July 25 and July 27. HelloEOS, as one of the BPs, voted yes to pursue the changes.
On July 28, Zicen attended the Hybrid Summit 2018 in Bangkok. He was invited as a speaker to share with thousands of blockchain industry participants the information on the EOS blockchain operating system, the Graphene blockchain technology framework and the projects supported by HelloEOS. Hybrid Summit is a global summit for promoting the blockchain technology and exploring the potential of cryptocurrency investment. This annual event brings members of the crypto community from around the world to share and exchange their ideas.
BM proposed that the BPs start growing the RAM at the rate of 64GB per year (1 KB per block). The EOS Authority conducted a vote on this proposal on the night of July 25. 15 BPs voted yes till the next day, which reached a two-thirds +1 super majority to pass the proposal.
The BPs that voted in favor of this proposal are: helloeoscnbp, eosauthority, eoscanadacom, argentinaeos, eosfishrocks, eosnewyorkio, eoscafeblock, eos42freedom, eosswedenorg, eosdacserver, eoslaomaocom, starteosiobp, eosbixinboot, eosisgravity and libertyblock.
However, when the new program came into effect, the RAM capacity directly presented a sudden increase to 65.5GB, causing considerable debate in the community.
It is said that the reason for this incident is that gstate2.last_ ram_ jincrease is incorrectly initialized to 0, thereby the contract wrongly calculates the actual RAM growth. Since the recovery of the system contract can only be initialized once, this will no longer happen afterwards concerning the RAM increase.
On July 27, IMEOS conducted an exclusive interview with Zhao Yu from EOS LaoMao. He shared his perspectives on this incident:
The problem of a sudden increase of 1.5GB memory can be seen as the original total RAM Capacity of 64 GB being suddenly changed to 65.5GB at the moment of contract upgrade. On this basis, the RAM will grow at the rate of 1 KB per block (64 GB per year). The sudden increase of RAM capacity is triggered by a bug in the initialization stage of system contract, which will only happen once.
At present, there are two optional plans presented to the community for discussion, but the choice has not been made yet. One of the plan is to reduce the increase rate to 0 at the beginning, and then restore the rate to 1KB per block after 9 days to offset the 1.5GB additional increase against the 9-day increase volume. On the other hand, it's recommended that the newly increased 1.5GB RAM brings no impact, because it can be seen as increasing the RAM supply a week earlier.
The EOS LaoMao team will support the potential solutions to offset the newly increased 1.5GB RAM.
As for the mechanism of RAM increase, the community believes that it will help more DApp developers get involved in the EOS network and prosper the EOS ecosystem.
On July 27, BM posted the following views on RAM in the Telegram group:
RAM prices have started to fall, which is highly beneficial to the developers.
After talking with Bancor guys, I have concluded that we could further absorb demand for RAM without impacting currently tech requirements by pre-selling RAM that is convertible to RAM at future date. For example, we could sell 1TB convertible RAM in five years. I call this PRAM. It will be a new market that will represent present demand to hold/hedge RAM that wouldn't be needed for five years. As long as we have very high confidence that in five year 1TB of RAM is viable then we can allow it to start trading now.
Free markets are bidirectional and are affected by supply and demand. The rules can be changed by market competition for example offering new products constantly.
Smart contracts are always following the rule to increase the supply of RAM, and there is no "default" risk in future commodity delivery, especially if we now know that technology is available, even if we have not activated it for several years.
The community witnessed three incidents related to security issues last week:
On the afternoon of July 23, EMAC received a message from a victim suffering a loss, saying that, in the telegram group of EOS911, someone claimed that they could help the victims recover the lost EOS, but the victims had to provide their imToken private key. EMAC verified that this claim was made by some ill-intentioned persons who tried to steal the user's private key.
On July 24, the security team SlowMist received a piece of information from Meitu Blockchain Lab, a partner of the SlowMist Zone, that malicious EOS contracts have the security risk of consuming users' RAM. The security team of SlowMist warns that such contracts will make the users exposed at a high risk to attack. There is a need for vigilance from major exchanges, wallets, token airdroppers, Dapps and users to avoid losses. In terms of defense, project stakeholders should detect carefully whether the target address is a malicious contract address when making a transaction, in order to avoid any loss caused by malicious RAM consumption.
On July 25, the EOS Fomo3D Werewolf Game contract suffered an overflow attack. The pool of funds became negative. The security team of SlowMist called special attention to the EOS smart contract safety. On July 27, EMAC released an announcement to handle the incident of the EOS Fomo3D Werewolf Game and submitted the case to ECAF.
The content of the EMAC announcement is as follows:
The EMAC911 team has learned about the case and has communicated with ECAF. Please be informed of the the following suggestions and take appropriate action: 1. If you are a victim, please fill in the details of your case on this website (https://jinshuju.net/f/c4FIEk); 2. Please submit true and accurate evidence; 3. Currently, EMAC does not perform the function as arbitrator or law enforcer. The 911 team is composed of warm-hearted community volunteers who can only assist victims to submit relevant information and follow up on the progress of the case handled by relevant parties. We cannot make any form of guarantee to recover the victims' losses.
This year, Fortune announce the Ledger 40 Under 40 honors list for the first time. The 40 superstars on the list are changing the world in the forefront of finance and technology. Among them, BM ranked 12th, along with the Ethereum founder, Vitalik Buterin (2nd) and CEO of Bitmain, Wu Jihan (3rd). The honors list will be officially announced on August 1 in Fortune. A full list is available in advance at Fortune.com/the-Ledger-40-Under-40.
WhaleEx (Whales Exchange) will become the world's first decentralized exchange to be set up on the EOS mainnet, as announced by its founder. It will be officially launched at the end of August. WhaleEx will support cross-chain transactions, charge no fees for listing a token on the exchange and no transaction fees for the users. Moreover, it will launch the Killer Whale program to find exchange partners worldwide. WhaleEx will team up with these partners to reinforce the EOS eco-prosperity.
Billionaire investor, hedge fund manager Mike Novogratz comments that instead of having many staking agents, EOS picks 21 BPs, and because it has only 21 BPs and those 21 have huge computing power behind them, the EOS blockchain will be much faster. EOS has processed 5,000 transactions per second, and it will reach 50,000 transactions per second in a few months. Galaxy Digital, a venture capital department owned by Novogratz, has invested millions of dollars in Block.one.
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