EOS project is wonderfully making its way through the cryptocurrency market. The initiative, whose primary objective is to introduce a new architecture for blockchain, is gaining a humongous ground in the market reaching some of the most outstanding results — including against strong cryptos such as BTC (Bitcoin).
The technology behind this performance is built with the intention of enabling both vertical and horizontal scaling for decentralized applications; a fact they achieve by creating sort of an operating system in which several applications can be developed.
As the company’s white paper establishes:
“The software provides accounts, authentication, databases, asynchronous communication, and the scheduling of applications across many of CPU cores or clusters. The resulting technology is a blockchain architecture that may ultimately scale to millions of transactions per second, eliminates user fees, and allows for quick and easy deployment and maintenance of decentralized applications, in the context of a governed blockchain.”
Like this, the project continues reaping success. Once again the token is heading its own peak against nothing but the strongest of the market; and as if it wasn’t enough, it may also register a two-digit price in dollars soon.
Let’s recall that EOS had a significant growth on the sturdy Asian trading market, getting to an outstanding value of $9.03 per unit. The same way the asset surpassed its past value of $5 in only just one day, a period in which it managed to get to prices oscillating between 8 and 9 dollars. To this, the daily auction too did reaction passing as well to the $8-9 territory.
As a consequence of this, price manipulations speculations increased extraordinarily, even more after EOS had decided to move its funds. It is still uncertain who are the ETH backers performing on the daily auctions, in fact, a few people believe the project could be recycling a part of the ETH collected and also making its price to grow artificially.
— ICO-Address-Monitor (@ethicomonitor) April 18, 2018
The project recently experienced a collection of over 30,000 ETH units on its daily auctions and even got at one point, to the number of 40,000 ETH, which would definitely have to lead to a notorious bullish behavior of its relative price.
Nonetheless, results were not that significant. In fact, it maintained relatively calmed daily amounts, and its market appreciation remains the same, so there’s a place for arousing doubts.
The EOS token won’t actually have a determining role on the network, but in contrast, it will be a very crucial piece for potential node holders. The network of the asset will develop a system composed of 21 block makers which will achieve a consent. In order to achieve that status, holders of a large-scale level might have acquired EOS already, and if not, they may be planning to acquire the asset in the short term.
Like this, with the several daily actions that still remain to happen, and with almost two months missing to launch the mainnet, the massive promotion of EOS may be changing abruptly. Currently, the majority of the EOS trades are solely speculations on platforms such as Huobi, Bithumb, and Bitfinex, but the truth is the real numbers of the network are somehow undiscovered.
In the current time, the EOS project has not created any advances beyond the DAWN 3.0. It is clear that the team is putting all of its efforts in order to construct a well-crowdy community, but for the moment it all reduces to merely hopes.
We will be updating our subscribers as soon as we know more. For the latest on EOS, sign up for 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 fdecomite via Flickr
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…
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