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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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
The same concept applies to cryptocurrency CDPs. Consumers are able to put up crypto tokens, such as…