EOS network inflation drops significantly after historic vote

Published on by Cryptoslate | Published on

The EOS community recently proposed and approved a change in the protocol that significantly reduces the network's inflation rate.

One, announced that on Feb. 25 that the EOS community quietly voted to approve the reduction of the network's inflation from 5 percent to 1 percent.

"I woke up today to find that a proposal to reduce EOS network inflation from 5% to 1% had been proposed and passed by the community overnight. This speaks to the power of decentralized governance, and networks designed to operate in the best interest of their holders."

Over the years, EOS holders have pursued the reduction of the annual inflation, but failed to gain enough supporters.

This inflation system was coded into the EOS protocol since it was launched into mainnet.

Saving account, which had an excess of 34 million EOS tokens.

All the inflation will now be shared among the BPs of the EOS network.

This event marks an important milestone for the entire EOS community since BPs were able effectively vote to reduce their own pay among other things.

Blumer believes that the alignment between EOS network operators and token holders "Threatens the entities that profit from controlling token holders who have no vote."

Following the announcement, the price of EOS appears to be holding steady above the $4 support level despite the nosedive that most cryptocurrencies in the market took today.