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EOS is an investment opportunity you can’t afford to miss, here’s why
In this modern age where the number of cryptocurrencies in existence is well over 1,500, with new ones being frequently developed, it seems like you hear about a new virtual currency every day. And as cryptocurrency users looking to invest in a new cryptocurrency, we often get to the point where we are not sure when we should invest and what’s the best option to put our money in the market.
Following Ethereum’s success as a blockchain platform for growing DApps, decentralized applications, the blockchain space ever so often experiences the emergence of some similar platforms with EOS being one of them. The Hong Kong-based blockchain, EOS, has been billed as the Ethereum killer. It promises a decentralized application platform (DApp).
EOS 101
Created by Block.one and Dan Larimer, EOS makes it possible for DApps to scale both vertically and horizontally, and like Ethereum, EOS is a platform that allows other digital coins to come into fruition.
Its main objective is to answer the problems of speed, scalability, and user experience by providing account recovery, doing away with transaction fees, and alike. The blockchain manages to attain this by using Delegated Proof-of-Stake consensus mechanism.
Here I will highlight the reasons why EOS is a good investment opportunity.
EOS Scalability
Blockchain scalability is a real problem especially now when virtual currencies like Bitcoin and Ethereum are competing with more mainstream platforms like MasterCard, PayPal, and Visa; they seriously need to intensify their performance when it comes to transaction time.
Although not being a ‘silver bullet’ to the scalability issue, EOS is built specifically to prioritize scalability performance by ensuring massive adoption of the cryptocurrency is not a problem.
The EOS platform was built to hold millions of users at the same time making use of its blockchain, but even so, scaling is a continuous problem that has a terrible way of going around any attempts of solving it. As soon as developers improve scalability, products adapt until scalability levels are reached again leading to another performance crisis.
Ethereum’s (EOS biggest competitor) Current State
On several occasions, EOS has been compared to Ethereum with both currencies sharing a similar vision of becoming a decentralized space for trading with cryptocurrencies. However, Ethereum seems to be back peddling away from this vision as it requires a lot of time, work, and resources to implement.
In the opposite side of the frame, EOS has continued to pursue this vision making it have scalability, and a better-equipped ecosystem that is leading to the platforms become the primary option users.
EOS Source of Funds
Many of the virtual currencies if not all result in worrying situations when it comes to the facts that relate to funding activities. But thanks to EOS’s efforts and success in creating an inflation system that supports the funding of the blockchain, the digital coin can spare users from transaction cost that could have been used to source for funds.
EOS relies on a 5% annual inflation that is used to pay block producers and for requests of the whole community.
Conclusion
Holding EOS tokens allows you to use its shared network resources. Meaning you will have access to bandwidth, storage, and many other services after investing in EOS. It’s like possessing a digital real estate where the number of digital coins you own provides you with the percentage of space that will be at your disposal.
It is still too early to predict EOS movements in the future and whether it’s going to live up to its expectations. But what can be said is the digital coin has a good team, a grand vision to become great, a successful leader who is an expert in the field, and a lot of potentials. With all this in context, it’s easy to understand why EOS is a safe and smart investment option at this time.
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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
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…
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…
Altcoins
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…
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