Connect with us

Blogs

All You Need to Know About EOS Mainnet Launch

Published

on

EOS Mainnet
READ LATER - DOWNLOAD THIS POST AS PDF

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.

For the latest cryptocurrency news, join our Telegram!

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.

Image courtesy of Pexels

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

Published

on

Bitcoin crash
READ LATER - DOWNLOAD THIS POST AS PDF

The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

Continue Reading

Altcoins

Top 3 Coins to Buy Before They Go Big

Published

on

coins
READ LATER - DOWNLOAD THIS POST AS PDF

Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

Continue Reading

Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

Published

on

crypto credit cards
READ LATER - DOWNLOAD THIS POST AS PDF

It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

Continue Reading

Elite