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EOS Progress Put Ethereum (ETH) in Trouble

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The crypto technology continues to develop, and with each passing day, we see new improvements in the younger cryptos. Despite the fact that Bitcoin (BTC) and Ethereum (ETH) are still dominating the market, Ethereum, at least, might soon be replaced by none other than EOS itself.

Will EOS knock down Ethereum?

Ever since Bitcoin first came to be, back in 2009, a lot of cryptocurrencies have emerged, wishing to challenge its dominance. Ethereum was one of them, and it managed to become great in its own way. Considering that BTC was the first crypto, it is easy to see how this coin would make a lot of mistakes while trying to figure everything out.

Ethereum was the one who worked hard to improve itself, and not makes those same mistakes, which allowed it to be the second representative of the crypto world. However, that also made it a target for the new coins, who wanted to become even better than ETH. A lot of them started walking down this path, and EOS has become one of the most successful projects that wish to slay Ethereum, and take its place.

EOS makes significant progress.

EOS has done well for itself this year, and despite some big missteps, the crypto is still here and still fighting. Many coins have suffered from the price drops that occurred at the beginning of the year, including EOS. However, it still managed to spike hard in mid-May. Soon after that, the coin launched its MainNet, after months of testing on the previously launched TestNet.

This is where it encountered some issues, and the MainNet’s start was rough. However, the team responded and fixed the issue within a few hours. However, the situation with its price has not been doing so well lately, and EOS’ value has been dropping continuously for several days now. It currently holds the rank of 5 on CoinMarketCap, with a price of $7.04 per coin.

This is still a significant improvement over NEO, which is EOS’ main rival in taking down ETH and is ranked as 12th, despite the higher price.

The real progress that EOS has managed to make so far is not the launch of the MainNet itself, but what the EOSIO platform can offer. EOS has recognized the needs of its users and has included all kinds of different services. Those include various things like databases, authentication, hosting, accounts, cloud storage, and more.

Additionally, the platform allows the creation of dApps that are as versatile as anything that can come from a centralized server. And not only that, but the number of transactions is also enormous, while the fees are almost non-existent. Through these subtle improvements, EOS has come to the point where most of its competition cannot even hope to keep up with it.

This is why many believe that EOS is the future and that Ethereum’s time is almost at its end.

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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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Blogs

Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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7 Steps to Recovery from a Crypto Trading Loss

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Whether you are a newcomer to the crypto market who mistakenly invested a large amount into the wrong coin, or a professional that made a well-researched decision and something still went wrong, the result it the same — you lost your money to the crypto market. This is a big problem, but also a problem that every crypto trader faces at some point.

The reason may be anything, from simple bad luck to the lack of research. Add to that the fact that the crypto market continues to be extremely volatile, and it is clear that not all of your trades are going to end up successfully.

Whatever the reason is, the fact remains that you experienced a loss and that this is a problem which can affect more than your funds. It can also affect your mind and feelings. Since every successful trade that you have the potential to make in the future depends on you, you have to recover first, and only then should you worry about the funds.

The road to recovery is different for everyone, and it will take a different amount of time and effort. However, there are a few general steps that you can take to recover from a crypto trading loss.

Step 1: Stop and calm down

You have just suffered a major loss. It may have been your mistake, or…

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