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Bitmain Chooses EOS for its Second Major Investment of the Year

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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

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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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.

Mission Statement

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,…

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CoinFlip Scores Big with BRD Wallet Partnership

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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…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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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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