At the time when EOS began its operations in the crypto-market, it was regarded as the platform that would outdo Ethereum. In fact, it was even called “the Ethereum killer” in its ICO times. Both EOS and Ethereum are similar due to the fact that they are platforms that offer the creation and launch of DApps. Right now, the ambition of EOS trying to outdo Ethereum seems not to be achievable due to some factors and issues that surround it at the moment.
Firstly, one of the problems that deter the ambition of EOS is voting. The way EOS handles its voting seems quite complicated for an ordinary voter. The voting process of EOS has dramatically reduced the required percentage need for the launch of its MainNet.
Even though EOS voting is supposed to increase the level of security the platform has, its difficulty has raised more concerns and arguments. It has also introduced negative implications. When comparing the voting process of EOS with other blockchain platforms like Tron (TRX), there is a big difference.
The voting process of Tron (TRX) looks more favorable than EOS. This could impede the value of EOS and also decrease its market position. In the crypto-market, most investors value easiness, and if other platforms like Tron (TRX) are not too complicated, then they may be the most favorable option for them.
Secondly, the issues regarding the MainNet launch of EOS stirred a lot of controversies. The issues from exposed vulnerabilities to crash less than two days after the MainNet went live were the ones encountered on EOS MainNet.
Recent issues regarding EOS platform were the ones that had to do with constitutional crises in which the blockchain producers froze some accounts. The freezing of these accounts occurred at the time when there wasn’t any legal set-up by the block producers, i.e., they didn’t possess any constitutional power to carry out the action officially.
The freezing of accounts made several investors turn elsewhere for a more decentralized apps platform. At the moment, most investors are turning to Tron (TRX) and Cardano (ADA) due to the fact that these two platforms seem more decentralized than EOS after the highlighted issues.
Furthermore, there is the problem of investors who just HODL and do not partake in the voting process; they may lose some of their digital coins in the future as the token is considering blocking accounts that stay inactive for three years. There seem to be many powers at the beckon of EOS producers which delays DApps developers. DApp developers are now turning to Ethereum, Cardano (ADA) and Tron (TRX) to prevent further delays.
EOS is a good platform, but it might lose its place in the crypto-world due to its complications. As it stands now, the chances of dethroning Ethereum looks slim. Ethereum on its own is more decentralized, and it has lots of DApps developers on its platform.
For any investor in the crypto-market, Tron (TRX) and Cardano (ADA) seem to be superior platforms than EOS. Tron on its own is seeking to be the head in terms of decentralization. However, Tron’s CEO, Justin Sun made it clear in an interview with Huobi talk that Tron aims to be the spotlight in the decentralized internet.
On the other hand, Cardano is still working on its aims, but it is slowly doing this to make sure that its platform does not encounter the problems that other blockchain platforms (like EOS) face today.
This is not to say that EOS is not a futuristic platform – it is! Currently, it has a massive community worldwide, and with the money it has accrued so far, it has a good chance to contend and strive in the crypto-market. But the token needs to work tirelessly so that others (like Tron and Cardano) do not succeed in attracting its believers because of disappointment.
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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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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
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.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
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
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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 been…