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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Reasons Why You Are Much Safer When Crypto Trading on Dexes
While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.
During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.
Here are some reasons why you might want to consider doing the same.
1. True ownership of your coins
The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges…
Crypto Billionaire Predicts Massive Price Growth by 2021
Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.
Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.
He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.
However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…
TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level
Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world. Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon. This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs. One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos. TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.
Problems with Centralized Casinos
The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model. And online casinos are no different. It still needs to be said that centralized casinos have proven that there is a great demand for online gambling. The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative. But industries are continually evolving and this one is no different.
A few of the problems facing centralized casinos include the following:
- Little to no transparency
- Consumer lack of confidence
- Privacy concerns
- 48-72 hour wait time for withdrawals
These are four monumental issues that need to be addressed quickly given the global growth of the market. Casinos need to…
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