The EOS cryptocurrency and project are the talk of the town in cryptoville for all kinds of reasons. They have some important events coming up, the price is currently low and, also, it has some enthusiastic fans who claim it’s more scalable compared to Ethereum and some very serious detractors who just call it a scam.
Nevertheless, their capitalization remains beyond $11 billion ($12.84 is the currency’s current price per token; increased in value by 16% within just 24 hours as I write this article), and they’re just about to launch their new Main Net. EOS is rising in popularity, and it would be a rookie’s mistake just to ignore that. EOS could even get listed in Coinbase sooner rather than later for several different reasons. Let’s explore them.
1. EOS’ EOSIO new MainNet is just around the corner
Something of the kind has been happening with Tron’s TRX as well since they are also about to release their new Main Net. Both coins’ prices are going up as users, investors and enthusiasts look forward to seeing how great their own independent blockchains and networks will be.
EOSIO goes live coming June 1st. In the words of the organization behind EOS, this new MainNet will be a platform in which,
“entrepreneurs interested in building their own blockchain can fork (the) repository and customize it for their own use.”
It will also allow programmers to develop decentralized apps at their leisure. If EOS can really attract a solid community of developers (not an easy feat since Tron is trying to do the same thing exactly), then its popularity and market price can go as far as you can possibly imagine. Even beyond.
EOSIO developers we need you. We're looking for volunteers to be technical mentors at our first #EOSHackathon event, in Hong Kong, June 9-10. Travel and accommodation covered. Learn more below https://t.co/oAAo0PPRpc
— EOS (@EOS_io) May 23, 2018
2. EOS’ first corporate app is already deployed and working
On May 15th, Synacor (a personalized media company based in Buffalo, NY) presented their new email platform, called Zimbra X. It will be an upgrade for their current email platform called Zimbra, and it’s the premier enterprise application being developed on the EOSIO. This is a huge deal! Zimbra currently has more than half a million users (which will now become EOSIO users in just one go, even if they’ll probably never know). This is a prestigious service, on top of everything, Amnesty International hosts its email with them.
Synacor’s Senior VP of Platform Products, Mr. Erynn Petersen explained that,
“EOSIO’s scalable high performance allows mainstream consumer products to leverage blockchain capabilities. We expect EOSIO to continue to emerge as a leading blockchain operating system.”
That kind of support given by such a big firm at a stage in which EOSIO is not even online yet can only encourage other firms to take this blockchain project seriously and find out what it can do for them.
3. EOS is among the list of top 5 cryptos
It used to be Litecoin. Not anymore. EOS is fifth now. Coinbase carries four among the top six coins, and as relatively new currencies as EOS and Tron are becoming undeniably relevant, they are looking to include new coins this year. EOS is very popular, and its current circulation is worth 877 million dollars. Ignoring those two simple facts wouldn’t be Brian Armstrong’s people best move.
There’s one other thing. Coinbase wants increased trade and EOS is still cheap (some would say undervalued). Adding a cheap crypto coin that is additionally among the world’s top five can only increase the trading volume (read profits).
— Henrik Ask (@AskHenrik) May 24, 2018
4. EOS could become more scalable compared to Ethereum
The technology behind the EOS new Main Net is called Graphene. It’s good from ten to a hundred thousand transactions in each second and can take advantage of parallelization to bring that number up to the millions.
That gives EOS a huge competitive advantage over Ethereum and makes it the only (the possible exception being Tron when they launch their own new Main Net) blockchain network capable of running commercial-scale decentralized applications at the production stage. If you’re wondering why scalability matters, think about this: scalability is longevity and long-term viability. Even Coinbase takes scalability into account.
5. Coinbase gets ready to grow
Coinbase expanded to Chicago last week. There are two things they want more of: investors and talent. They plan to get thirty new faces into the company before this year’s end and a hundred in the next three. Coinbase knows it’s the leader. It takes that seriously, and it wants to preserve it. And the only way they can keep that up is to include the coins that most people want to own or trade. EOS is one of them.
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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 Pxhere.com
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.
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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.
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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.
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