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Bitmain Chooses EOS for its Second Major Investment of the Year

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EOS

Block.one, the company responsible for one of the top cryptocurrencies, EOS, has just received a major investment by $12 billion-worth crypto firm called Bitmain.

Block.one chosen for a large investment

A new major development in the crypto world has seen Block.one, a company behind EOS, receiving a large investment from the largest crypto company, Bitmain. Bitmain’s co-founder, Jihan Wu, stated that the decision to invest in EOS came after its protocol demonstrated significant innovations that came over the course of the previous 12 months. EOS has focused on the creation of a strong, scalable and stable ecosystem, that would support the creation of dApps, as well as commercial decentralized platforms.

Wu even stated that the protocol is a great example of innovation regarding the blockchain technology, with its scalability and performance being capable of meeting the ever-growing consumer needs. According to him, this is yet another very important step towards mainstream adoption of the blockchain technology.

Block.one’s CEO, Brendan Blumer, stated that the company’s goal, for now, is to establish connections and partnerships with various strategic investors. The company wishes to connect to as many people that are sharing EOS team’s goals as possible. He stated that Block.one is almost ready to announce plans for the future, and are now searching for those willing to improve the security and connections of the world.

Bitmain’s investments and interests

Bitmain is currently the largest cryptocurrency company, with a market valuation of $12 billion. This has allowed it to easily surpass the likes of Binance, Coinbase, and even Ripple Labs. Bitmain’s advance was rapid, but the company and its officials obviously proved to be capable enough to professionally handle it.

Recently, Bitmain has become known for investing large amounts in various companies. It invested up to $50 million in one of the biggest web browsers, Opera, and it even led a $110M Series E round for a crypto wallet platform and exchange, Circle. Now, Bitmain decided to support Block.one, who has managed to raise up to $4 billion after a year-long ICO.

Both Wu, as well as the company itself, have been very open with their enthusiasm and excitement regarding dApps and decentralized protocols. Especially when they come from a popular platform that is capable of both attracting, as well as properly serving millions of customers. Now, Block.one seems to be an obvious choice for Bitmain’s plan to expand through the world of cryptos and blockchain. So far, the company has been focused on the creation of crypto mining equipment, as well as on its investment arm.

What is next for EOS?

EOS is at a very important part of its journey currently, and it claims to be capable of serving dApps with millions of users. If true, and there is no reason to believe otherwise, EOS will have to focus on expanding its developer community now. This will be the next most important step in its development, and it will require a developer community that will be capable of rivaling that of Ethereum.

Ethereum is the second largest crypto, which means that it represents a very, very big challenge for EOS. Especially considering that ETH’s developer community numbers over a quarter of a million capable developers. EOS has quite a task laid out before it, but it has already proven to be good at tackling challenges.

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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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