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.
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.
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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
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. One of the ways to have a successful trading…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
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…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
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…