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Is EOS an actual crypto? Lack of real decentralization casts doubts

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Is EOS a spam
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Lots of talks have been going on in cryptocurrency forums about EOS. That’s how it should be. For us, as cryptocurrency aficionados or investors it matters a great deal to know for sure what are we getting into. It’s an investment, we should know where our money is. And, within this context, there’s talk that EOS is not a real altcoin but a scam. We should care about that, it just makes sense.

EOS faces two main points of contention right now. Dan Larimer (a visionary EOS code writer, he’s also worked for Steem and Bitshares) is representative of EOS challengers and he’s not popular, but he has a point to make. At some point in time none other than Satoshi (of Bitcoin fame) talked to Larimer in very clear terms “If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry.”

They disagree on two main contention points. It’s about ICO vs distribution that starts from pow mine from zero. The second point is that Mr. Larimer started a new coin and he’s not quite done with it. Other observers have said Mr. Larimer’s has a huge vision for the future for his coin and for the world, and that blockchain technology is the means he could use to achieve that.

Crypto enthusiasts have followed Mr. Larimer’s career very closely. He’s been behind two very successful products so far (Bitshares and Steemit) before he moved on to create EOS. So, he’s brought credibility to EOS just because his previous track record is so good. Investors think he could revolutionize the world, three times over. Think again.

The Earth Operating System (aka EOS)

That’s how it’s called. Even Linus Torvalds, Steve Jobs and Bill Gates are humbler. In a recent article, Mr. Larimer talks about a Grand Unified Political Theory, and the fair distribution of the earth’s as if the Earth was his to distribute. As far as cryptocurrencies profits will go for sure, they will never render the whole earth as loot.

Decentralization

This is the cryptocurrency’s hallmark from the beginning. The whole point. Nobody holds all the information about every user, nobody can hold the system hostage. Is this true about EOS? It’s controversial, to say the least.

While EOS has been probably undervalued and has the potential to surpass Ethereum this very year the fact remains it relies on partial centralization through dPOS, aka proof-of-stake. True, decentralized coins have infinite nodes competing to do the needed calculations to render each coin valid and useful. EOS does not, it brings the number down from infinite to twenty-one nodes. Statistically, that means centralization and it’s bad news.

EOS’ rivals (such as Ethereum) say that EOS is totally centralized. Not hard to see their point when you compare infinity nodes to just twenty-one. So, it’s clear that EOS decentralization is much better with Bitcoin, Ethereum, and many other cryptocurrencies.

All this controversy could make EOS a lot more attractive. More intriguing. Opinions abound, controversy thrives, and you will have to make your own choice. It’s all very technical but also very relevant. Take your choice.

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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.

Image courtesy of Alejandra Solett via Flickr

Altcoins

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

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Aluna.Social
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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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CoinFlip
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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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collateralized debt position
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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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