Connect with us

Blogs

EOS (EOS): Ethereum’s Competition

Published

on

EOS

EOS seems to be doing pretty well even though lots of big currencies out there are dizzily dropping. From being launched less than a year ago, this coin is said to be progressing pretty rapidly, already ranked the 9th coin on the global coin ranking list. This case poses the question: Is it possible for EOS to “take down” Ethereum in the following months?

What is EOS all about?

When talking about EOS, it is probably the easiest to compare it to Ethereum. This digital coin functions similarly to one of the biggest decentralized networks in the market, which is perhaps the reason why this coin is getting so much for its popularity.

Just like ETH, the main Ethereum’s currency has Ethereum as its parental platform, EOS has Block.one. Block.one is a decentralized platform based on blockchain technology with the ability to host multiple different applications that can be easily uploaded by developers who are also EOS token holders. The platform enables fast transactions with full encryption and with a warranty that all transactions are made to be safe, secure and without having third parties earning on the transactions that members of Block.one are making. The idea behind this platform is to create a patchwork that can be programmed.

What is probably the most interesting thing with EOS is the EOS.IO blockchain software that developers behind this platform are working on. The initial software should improve the network and make it even easier to use, offering a user-friendly experience. The system is intended to improve the bandwidth of the network, which means faster CPU, storage, RAM, enabled voting and enabling multiple block creators to easily change and improve the system software.

This should result in faster transactions and overall faster operations within the network, as well as the ability to vote in favor of or against the changes being announced.

Block.one and EOS.IO

Another thing that most possibly influenced the rapid progress of this coin is probably the recent meet up of Korea’s EOS.IO and Block.one platform. Korea holds the 5th place in the world as one of the best countries with most advanced knowledge in Information and Communication Technologies, so it is no wonder that EOS is progressing at the current pace given the fact that they have plans for implementing some very flattering solutions.

The main idea behind this meet up is to have new companies and industries joining the network of EOS as well as implementing another token of value that would be accepted as well as EOS within Block.one decentralized platform. Some of the solutions intended for implementation lie in scalability and flexibility of this decentralized platform as well as adding Richard Jung as a leader in Korea’s community of developers.

If everything goes well with the new systems and protocols being implemented, it is expected that EOS will most likely have another series of massive increases in the following months.

EOS set to take down Ethereum?

Many people are speculating that a platform like Block.one with EOS as its main token of value could easily take down Ethereum. Can this case scenario be true?

Most probably, yes. Given the fact that EOS is being traded at 9$ per one coin while Ethereum costs nearly 100 times more per one unit against the dollar, investors are more likely to be focused on buying EOS rather than investing in Ethereum. This is a perfectly normal scenario – let’s imagine that you walk into a store and see two jackets: now the jackets may be a bit different in color, but they are made out of the same material and in the same way. There is one difference though: one of the jackets costs 9$ while the other costs 800$. Which jacket do you buy?

The answer would probably be redundant.

Now that EOS is rapidly progressing with reaching the price of 8.73$ even after a decrease that went up to -6% against the dollar, Ethereum seems to be “threatened” by another similar platform that does the same work – only at an improved pace.

It is said that EOS is now even having faster transactions that can be easily done in no more than 1 to 10 ms of runtime, which probably adds to its value.

With its current state, EOS with its platform Block.one is enjoying the perks of being listed at 9th spot of the global coin ranking list, now being side by side with big coins.

What to Expect from EOS in 2018?

If we take into consideration that EOS has managed to make exceptional progress in only a couple of months of its lifetime, this digital coin is already carrying a promise to become one of the top coins on the market, and not just a top ten coin on the list.

If you add the fact that Ethereum is falling to despair with constant decrease that has made this coin drop for over 400$ per one coin, which is a pretty tough loss, EOS can easily take Ethereum’s place by the end of the year. This would be the case only in case Block.one would perform flawlessly, that way inviting new investors and making old investors stick around without selling off the coins.

The way things are working for EOS now, tells us that this digital coin is on the road to increase its trading volume, also increasing the price per one coin possibly to 20$ by the end of March. This would be the case only in a scenario where this token wouldn’t be experiencing massive and often decreases. All in all, it seems that 2018 is going to be more than favorable for EOS.

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.

Image courtesy of coinmarketcap.com

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

Published

on

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…

Continue Reading

Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

Published

on

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…

Continue Reading

Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

Published

on

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…

Continue Reading

Trending