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All You Need to Know About EOS Mainnet Launch

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EOS Mainnet

Functional since 2017, EOS blockchain operates as a smart contract platform, catering to decentralized applications. As per the white paper released in 2017, the private company block.one is presently working on the system, which would become an open-source decentralized platform on June 1. Over one billion EOS tokens have been distributed on the Ethereum platform by block.one for widespread distribution of EOS. With the Mainnet release scheduled for June 1, EOS is gearing up to enter into a new phase. The following segments discuss all you need to know about EOS much-hyped Mainnet release.

EOS Mainnet Launch Scheduled for June 1

The EOS token was first conceived on the Ethereum blockchain to raise funds for future developments. This means all the tokens that have been distributed will be transferred to the Mainnet after it is launched. As for the existing tokens, they are hard-coded to freeze at a particular date and time. In this case, the date is June 2, 2018 (at 11:59 UTC) for EOS and June 1, 2018 (at 11:59 UTC) for eosDAC.

After a year-long ICO, the wait is finally over for EOS and eosDAC ERC20 token holders, as all users need to register their respective Ethereum addresses with EOS public addresses. The registration process, which is now open, is a mandatory update for token-holders, as all the existing token will freeze after June 1.

Generating EOS Keys

There are several ways you can generate EOS keys. Although the easiest way of generating EOS keys is to use the EOS platform, there are other alternative ways to expedite the process. Users can visit the EOS Token distribution section and register to receive keys. For users who are comfortable with GitHub and have a secure web server and PHP preinstalled on their computer, the codes can be directly generated and audited from GitHub. It goes without saying that if you are not tech savvy, the second method can be a little tricky, as you are unlikely to have an access to a preinstalled web server.

EOS Mainnet Gains Support From KuCoin

KuCoin features among the most significant cryptocurrency exchanges and has created massive waves in the crypto world.  To add to the traders’ excitement, the platform has released an official statement saying it has finished the coin swap of EOS Mainnet Wallet. Besides this, the platform has confirmed that it would support the release of the hyped-up EOS Mainnet launch. Speaking of the platform’s plans, it is set to execute an automatic asset transfer for its users, providing them with guaranteed security deposit.

Price Watch: Will EOS Mainnet Reverse the Bearish Trend?

The much anticipated EOS Mainnet is likely to bring positive changes on the blockchain, which has seen some major developments recently. From EOS association with a new project called Infinito Wallet to releasing a new software update, Dawn 4.0, this year has been a big year for EOS. In addition to these developments, EOS has scheduled four airdrops to keep the investors occupied.

Tracing the price movements of the currency, EOS performance hasn’t been really great in the past few weeks. A little insight into the price charts will reveal that a bearish trend is underway, as EOS anticipates the Mainnet launch. Discernibly, the coin is trending lower and is set for a correction to the top of its channel.  With the entire market slipping into a depression, many well-performing currencies are trading in the red at the moment. In any case, EOS bearish price is likely to be a cause for concern, as the upcoming developments, which include the Mainnet launch and airdrops, anticipate overturning its downtrend.

Ranking 5th by market capitalization, EOS boasts a market capitalization of $10,807,346,227 at the time of writing. EOS, which has dropped 2.01% from its previous position, is available to the traders at $12.20. The Mainnet launch on June 1, which will make it independent of Ethereum network, has created a great momentum in the market. Going by then reading of the analysts, the bullish sentiment could make a comeback, breaking past the area of interest and retracement levels. Although there are key resistance areas in the price charts, EOS could reverse its bearish price trend, provided the Mainnet is successful.

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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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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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