EOS, an altcoin that has gained quite a momentum in the crypto market, features among the top ten crypto gainers. The cryptocurrency which jumped up by 5.74 percent recently, is all set to enter a new phase with some exciting development. With the majority of cryptocurrencies facing downward movements, EOS sudden rise to the top came as surprise to many. Ranking 5th by market currency, EOS is a promising currency that can pose a major threat to the market. If you are not attuned to the latest developments on the blockchain, here’s an insight into what EOS has been up to.
EOS Announces Dawn 4.0 Update
After Block.one released EOS dawn 3.0 a month back, the team has announced the launch of a new update, Dawn 4.0. The development team, which was busy with the cleanup of the EOSIO software, considers the switch to resolve a number of corner-cases and time-based applications, enabling an accurate measurement of the time lapse within its smart contracts. One of the most notable aspects of the update is the initial pricing of RAM, which is kept at $0.000018 per byte or $20/token. This means new accounts will need 4KB of RAM worth of $0.10. As per the regulations of Dawn 3.0 contract, account holders could sell RAM for their paid price. Since the team’s goals were to disincentivize hoarding and speculations, users who bought RAM at such rates didn’t get any incentive to free RAM from others. As the RAM market is steadily growing, it is easier to find speculators willing to trade RAM price-volatility for better outcomes.
All You Need to Know About Dawn 4.0
The CTO of Block.one, Daniel Larimer has announced the launch of EOSIO Dawn 4.0 on Medium.com on May 5, and since then it has become all the rage in the community. Dawn 4.0, or the latest system update for decentralized applications, will include a number of notable changes. Block.one, one of the leading names in the software publishing, has been widely acknowledged for designing operating systems with industrial-scale applications.
EOSIO, one of the most active C++ projects on Github, ranks eighth in the market, while Bitcoin holds the sixth position. The new update mainly focuses on the inter-blockchain communication, a huge factor which is responsible for scaling up blockchains. As per the statement issued by Daniel Larimer, the intercommunication features of Dawn 4.0 will allow applications running to different blockchains the opportunity to buy the unused RAM. Simply put, Dawn 4.0 strives to incentivize users to distribute their unused RAM, enabling supply and demand to regulate the price. Considering the increasing demand for RAM, the price is likely to increase exponentially.
EOS Announces an Airdrop and Mainnet Launch
As the EOS investors are likely to be aware of, there are some new developments on the horizon. Apart from the much hyped-up announcement of the new airdrop, investors can reap the benefits from the mainnet launch, which will take place a few weeks later. People who wish to participate will need to register their EOS tokens on EOS platform, EOS.io and store the coins on a web wallet which is compatible with ETH. As per the official warning issued by EOS, “If you have at least 25 EOS Tokens in an EOS Registered wallet for which you control the private key (for example a Hardware Wallet, MyEtherWallet, Metamask, etc) then you will automatically receive your Evolution Tokens, there is nothing else you need to do. DO NOT use an exchange wallet.”
EOS Gears up for a Bull Run
According to the price records, EOS is the second largest gainer at the moment. With the price moving up by 5.74% from its earlier position, the cryptocurrency leads the price rally this week. Needless to say, its recent upsurge also coincides with a bullish momentum. But this bullish uptrend differs greatly from its April counterpart. As you are likely to familiar with its milestone, the cryptocurrency has reached an all-time high recently and is aiming to reach higher consolidation in the coming days. Trading at $18.35 at the time of writing, EOS boasts a market capitalization of $15,466,714,037 and is traded at a volume of $1,749,120,000 as of May 8, 2018.
Will EOS cross the $20.00 price level? Discernibly, it has made some noteworthy updates on the blockchain to cater to the users’ convenience and going by the progress made by EOSIO team, it is not difficult to imagine EOS making it big this year. Whether or not EOS will cross the $20 mark is highly debatable but one can certainly expect that the Bull Run will continue for this rising altcoin.
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
Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
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.
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,…
CoinFlip Scores Big with BRD Wallet Partnership
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…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
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…
Is Bex500 an alternative to BitMEX?
EOS now available on eToroX exchange
How Bitcoin Has Changed Online Gaming
Featured news2 weeks ago
How Tax Agencies Are Going After Crypto Traders
Bitcoin1 week ago
The Crucial Role of Cryptocurrencies & Blockchain in Modernising The Telco Industry
Trade1 week ago
Trusted third parties should issue stablecoins, not Facebook
Trade1 week ago
Not-For-Profit GoodDollar Secures Funding For 2020 As UBI Project Celebrates First Birthday
Bitcoin2 weeks ago
Will Bakkt Push Bitcoin into the Mainstream?
Hot Updates2 weeks ago
The Best Thing to Share with Your Family on Thanksgiving
Featured news2 weeks ago
Five Strategies for Lowering Your Crypto Taxes
Trade4 days ago
EOS now available on eToroX exchange