Connect with us

Blogs

EOS (EOS) problems are benefiting Tron (TRX) and Cardano (ADA)

Published

on

EOS TRON Cardano
READ LATER - DOWNLOAD THIS POST AS PDF

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.

For the latest cryptocurrency news, join our Telegram!

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

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

Continue Reading

Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

Continue Reading

Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

Published

on

SonicX
READ LATER - DOWNLOAD THIS POST AS PDF

When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

Continue Reading

Elite