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A Bright Future Ahead for EOS and Cardano Cryptocurrencies

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cryptocurrencies

With over a thousand cryptocurrencies being circulated in the market, it often becomes difficult to choose one out of them to invest in. Bitcoin and Ethereum are the two most popular cryptocurrencies in the virtual currency industry. However, there are many ‘new’ coins that are giving a tough competition to these two giants. In fact, some of the coins have been developed by keeping the scalability issue of Bitcoin in mind.

The competition now is to develop a blockchain that will surpass the rest of the speed of the previously developed blockchains in conducting transactions. The focus is also on developing a blockchain that will allow individuals and businesses to create Dapps and DAOS.

EOS

EOS coin was launched in July 2017 in the cryptocurrency market. Dan Larimer, the founder of EOS and other developers has designed the EOS blockchain with the aim of making it the quickest platform for Dapps. The EOS blockchain can process more than 50,000 confirmations per second. The altcoin will allow businesses to develop advanced blockchain-based applications. The token distribution phase of EOS and the ICO ran nearly a year. The features of Block.one, the EOS blockchain and the current developments in EOS make the cryptocurrency experts say that the crypto coin can overtake Ethereum in the near future.

There is no requirement of any mining farm of EOS. This is because a new EOS token is created every time the block producers generate a certain number of blocks. The reward for the block producers is new EOS tokens. The EOS blockchain allows the block producers to give the desired figure for their expected pay. The number of tokens generated per day depends on the median value of the desired pay given by all the block producers. To check that this feature is not misused by the block producers, a mechanism has been implemented by the developers. The increase in token supply per annum will not go beyond 5%.

Currently, according to Coinmarketcap.com, EOS is ranked at the 9th position (as of 19th March 2018). The market cap of EOS at the time of writing shows approximately $3,468 million USD in coinmarketcap.com and the volume (24h) is approximately $357 million USD.

The open-source smart contract platform offers an environment for the creation of Dapps and it assimilates a delegated proof of stake protocol. The Delegated Proof of stake (DPoS) protocol of the EOS blockchain according to the developers has the capacity of higher transactional volume throughput with up to 100,000 transactions per second. The cryptocurrency proposes to use the feature Horizontal scalability to bring down the transactional fee to zero. Currently, the developers of EOS including its CTO Dan Larimer are concentrating on developing the proof of stake protocol such that it will facilitate decentralization of autonomous companies on the platform. EOS also came into focus recently when a token swap was announced. Now, new blocks will be generated every three seconds.

Cardano

Cardano (ADA) claims to be the first “decentralized public blockchain and cryptocurrency project” that is completely open-source. The blockchain of Cardano is based on scientific philosophy. Operational since 29th September 2017, Cardano at present is focused on developing a smart contract platform that Ethereum and other smart contract platforms will be envious of. Charles Hoskinson, the CEO of Cardano and other developers are also focusing on coming up with a solution that will overcome the scalability issue.

The Cardano blockchain incorporates Ouroboros, its Proof of Stake algorithm that is considered as a major innovation and the IOHK team conducted extensive research to strengthen the platform. As Cardano will now use Ouroboros they will not require being involved with proof of work protocol that consumes more energy. In fact, it is the first cryptocurrency that is based on Haskell code that provides a secure environment for the investments. Its multi-layer protocol has the capability to perform advanced functions, and its base contains a settlement layer that is connected to a control layer. The control layer’s function is to run smart contracts while the settlement layer contains a unit of account. The control layer can also identify, helps in compliance and allows blacklisting.

The protocol has been designed to see to the privacy of the users and at the same time also taking into account the relevance of regulators. The cryptocurrency experts say that Cardano is the first to balance privacy and regulations so effectively. It has been a path-breaking feat in the world of cryptocurrencies. The developers of Cardano say that its blockchain has been designed to integrate new features with the advancement of time. They have, in fact, created a system that can be upgraded with the help of soft forks.

On the day of release in the cryptocurrency market, Cardano had become one of the top 15 cryptocurrencies in market cap. Currently, according to coinmarketcap.com, Cardano (ADA) is at the 7th position. (As of 19th March 2018) The market cap of Cardano, at the time of writing, shows approximately 515,557 BTC while the volume (24h) is approximately 31,461 BTC.

Centra wallet has recently accepted to store Cardano. So, Cardano has joined the ‘privileged’ Centra wallet list of Bitcoin, Ethereum, Litecoin, Dash, and Monero. Now, the merchants will also accept ADA as a means of payment. It is one big achievement for the crypto coin as many cryptocurrencies vie for this privilege. The cryptocurrency experts expect that this will increase the trading volume of Cardano (ADA) substantially. Moreover, ADA can be traded on the Centra decentralized marketplace for other crypto coins which will also result in the increase of the value of ADA.

The unique features of EOS, as well as Cardano, are going to set some new trends in cryptocurrencies. So, even if the market has shown some drop in the price of both the coins in the past few weeks, investing in these two coins is worthwhile. The cryptocurrency experts say that the year 2018 will be an important year for both EOS and Cardano and they may even take the cryptocurrency world by storm.

We will be updating our subscribers as soon as we know more. For the latest on EOS and ADA, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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