EOS has shrugged off allegations of corruption in its blockchain governance and the coin may rally soon.
The concerns over the EOS governance was related to claims that some block producers (BPs) were voting to keep each other on the network in return for rewards. Block.one released a statement which did not confirm or deny any wrongdoing but were keen to state that they take governance seriously,
“We believe it is important to ensure a free and democratic election process within EOS and may, as we deem appropriate, vote with other holders to reinforce the integrity of this process.”
They added, “we extensively think about the future of decentralized governance and are committed to continually pushing thought leadership on optimal design.”
Despite the fuss, EOS has shrugged off the issue and the coin may soon mount a rally.
The price of EOS has bounced from the support at the April lows creating a potential double bottom. The blue line is monthly support and the coin may soon rally to test the resistance around the $8.00 level.