The EOS blockchain has been designed to support multiple decentralized applications or dApps and offers all the core functionality. Thus with the help of the EOS blockchain, businesses can develop different blockchain applications just as they develop web-based applications.
LWRC to do EOS Block Production
The online gaming technology section of Leisure & Resorts World Corp. (LWRC) has revealed that they are going to the first block producer of EOS in the Philippines. The features of the EOS platform and its popularity as one of the most traded cryptocurrencies had attracted LWRC. “We chose EOS because the design, technology, and governance of EOS are superior to the other cryptocurrency and address many of the issues the community sees with bitcoin and ethereum,” Gonzales said in an interview. Gonzales feels that EOS has the capacity of conducting over a million transactions per second whereas many other cryptocurrencies are limited within 20,000 per second. Moreover, the EOS system consumes less energy.
In fact, EOS had been developed to be a ‘stable’ cryptocurrency with just a 5% inflation. This means that compared to the other cryptocurrencies, the market of EOS will experience less volatility that will facilitate transactions.
The team of LR Data Center & Solutions Inc. (LR Data) has over a decade experience of working as an international gaming infrastructure operator with Cagayan Economic Zone Authority or Ceza. The objective behind the online gaming technology branch of LRWC to conduct mass block production of EOS is to support the global network and framework of EOS. LR Data, it seems to be is emphasizing that EOS will become a true “retail blockchain.”
As per the words of Enrique Gonzales, LR Data vice chair, “With the launch of EOS Philippines, LR Data is at the forefront of infrastructure provisioning and supporting decentralization and democratization. Financial technology and blockchain are going to be a pillar of our business model moving forward.”
The future disruptive applications may as well use EOS technology. So, in the opinion of Javier Benitez, community head of EOS, this partnership with LWRC and positioning themselves in the Philippines will eventually benefit them.
Reasons to List EOS on Coinbase
- The upcoming EOSIO Main Net: EOS is also eagerly awaiting the release of its mainnet, EOSIO like Tron. It is slated to be released on 1st June 2018. The EOSIO Main Net will enable the developers and entrepreneurs to build their own blockchain and they will even be able to “fork (the) repository and customize it for their own use.” Once the EOS mainnet has been launched one can only expect the market price of the crypto coin to see a bull run.
- Confirmation of enterprise application: Even before the launch of EOSIO, Synacor had revealed on 15th May 2018 that it is going to be the first to develop its new email and collaboration platform, Zimbra X on the mainnet of EOS. Synacor’s present platform, Zimbra boasts having over 500 million users and renowned clients such as Amnesty International. In the opinion of the Senior Vice President of Platform Products of Synacor, EOSIO will enable “mainstream consumer products to leverage blockchain capabilities.” Erynn Peterson continues to say that they have many expectations from EOSIO as a leading blockchain operating system. This will encourage many enterprises to follow suit.
- EOS ranks 5thon coinmarketcap.com:According to coinmarketcap.com, EOS has taken over the 5thposition with a market cap (at the time of writing) of approximately $10,064,808,784 USD. Therefore, if Coinbase is looking for new crypto coins to add to their list, it must go for EOS. Moreover, the current circulating supply of EOS is over 870 million. The price of EOS at the time of writing shows $11.53 USD approximately and the volume (24h) is nearly $1,298,020,000 USD. Adding EOS that has high volume to the list of cryptocurrencies on Coinbase is more likely to increase the trading volume and thus profits.
- EOS may even outperform Ethereum: The features of EOSIO may even attract more developers and entrepreneurs than the Ethereum platform and it also has the capability to handle more commercial-scale decentralized applications. Graphene technology forms the base of the EOS Main Net and can perform 10,000 to 100,000 transactions per second. In order to avoid scaling issues, the platform will use parallelization to increase the number of transactions conducted per second.
One of the main issues of most of the blockchain projects is currently scalability. Ethereum, EOS, Zilliqa and many other platforms are trying to overcome scalability be it through sharding or technologies like Graphene. The price action of EOS will hopefully experience an uptrend if the proposed scalability solution proves to be profitable. Moreover, the news of EOSIO Main Net launch and LWRC doing block production will have some positive effects on the market.
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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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Reasons Why You Are Much Safer When Crypto Trading on Dexes
While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.
During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.
Here are some reasons why you might want to consider doing the same.
1. True ownership of your coins
The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges…
Crypto Billionaire Predicts Massive Price Growth by 2021
Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.
Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.
He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.
However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…
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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world. Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon. This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs. One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos. TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.
Problems with Centralized Casinos
The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model. And online casinos are no different. It still needs to be said that centralized casinos have proven that there is a great demand for online gambling. The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative. But industries are continually evolving and this one is no different.
A few of the problems facing centralized casinos include the following:
- Little to no transparency
- Consumer lack of confidence
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- 48-72 hour wait time for withdrawals
These are four monumental issues that need to be addressed quickly given the global growth of the market. Casinos need to…
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