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 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 (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.
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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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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
The same concept applies to cryptocurrency CDPs. Consumers are able to put up crypto tokens, such as…
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