Early in the day, it emerged that EOS has some serious security vulnerability that many feared could lead to a delay of the main net launch. The said vulnerability was identified by China’s security giant Qihoo 360. The company discovered that the vulnerability made it possible for someone to attack the EOS network remotely. In such a scenario, the attacker would be in a position to take control of all the nodes running the EOS network, as well as user wallets private keys. Such an attack would be catastrophic to the EOS network.
When this news broke up, the value of EOS dropped, hitting a low of $10.50. That’s because investors were fearful that this could lead to a delay in the main net launch. A delay would send the wrong impression in crypto circles, and drive EOS to even lower valuations, and also dent its long-term credibility.
However, the EOS team was quick to act on this report, and fix this vulnerability. EOS sent out the following message to the EOS community through Reddit,
“The problem was fixed on the 29th. No need to worry. According to the information we have obtained, the vulnerability pointed out by 360 has now been repaired.”
This announcement saw EOS regain some of its losses, and is now trading at around $11.50. It was a welcome reassurance to a community that is increasingly getting used to having their project get labelled a scam. This labelling comes from the fact that EOS is so complex that many people don’t even understand it. However, once the main net goes live, all this will change. This is a project that could transform the Dapps landscape for good.
That’s why if you are a believer in EOS, you need not panic, irrespective of the news that come up, between now and the 2nd of June. There will be lots of FUD before the main net goes live. Such FUD will be aimed at pushing the price lower, by discrediting the whole project. As an investor, you need to realize that such negativity is aimed at giving the people spreading it a chance to buy EOS cheap. They know it’s a project that has the potential to change the world, and want to create uncertainty around it, before it skyrockets.
Back to the vulnerability that was identified by Qihoo 360, the speed with which, the EOS team has resolved it shows that they are fully competent, and are determined to see the project succeed. They have handled the whole issue with a level of competence and professionalism that not many other projects can pull.
With this in mind, the EOS mainnet launch could see this crypto rally to over $20. Actually, considering the level of disruption that this project is about to bring to the market, it could emerge as the best performing project in 2018. Many are predicting that it could close the year at $100, but it could go even higher!