As many of you are already aware of, the crypto market is not in a good place at the moment. Numerous coins are losing their value, and nobody can tell for how long is the current bear trend going to hold.
However, the bear trend will eventually blow over, as it always does, and a new bull run can start at pretty much any time. Bearish behavior is bad for the market at the moment, but it can also provide an opportunity for investors who are interested in making a profit in the long run. Smart investors know that buying coins is less profitable when their price is on the rise. However, purchasing them when their value is low allows for some pretty good returns when the bulls return.
As always, the main question is — which coin to invest in? Well, we believe that altcoins like EOS and Cardano (ADA) are among the best ones. Both of these projects have a lot of potentials, and both are almost guaranteed to survive the altcoin apocalypse. Even so, the EOS vs Cardano rivalry continues to persist, and everyone wants to know which one holds more potential than the other. This is what we will try to answer today.
EOS vs Cardano
EOS and Cardano are two separate projects, but even so, they do share a number of similarities. For example, they both wish to change the world with their respective projects, take over Ethereum, and dominate the market.
At the time of writing, EOS holds the fifth place on CoinMarketCap’s list of largest cryptos, with a current price of $4.84. Cardano, on the other hand, holds the ninth spot, with a price of $0.063395.
Cardano is a relatively new project, even though it was conceptualized back in 2015. Its creator, Charles Hoskinson, set up a goal of creating a strong crypto that would have real quality. According to what we can see so far, he succeeded at doing this, and all aspects of Cardano are excellent. This includes its stability, technology, and even the team behind it.
EOS, on the other hand, has been around for much longer, and it started off as an ERC-20 token, meaning that it was created on Ethereum’s network. A few months ago, EOS has launched its own MainNet, which is a significant achievement. However, the MainNet soon proved to have quite a few bugs and glitches, which does spoil the impression somewhat.
When it comes to Cardano, the project is pretty similar to Ethereum. However, it uses the PoS algorithm in order to improve the blockchain’s speed and enhance the user experience. At the same time, it protects the components of decentralization, and it improves the security of transactions. Cardano has improved its speed, decentralization, and security, which are the biggest factors that lead to the balanced blockchain.
While the current technology is not good enough to perfect these aspects, Cardano has done as much as it could to come as close to perfection as possible. According to Hoskinson, the tech behind Bitcoin and Ethereum has reached a dead-end, and not much more can be expected from them. While the two started the crypto era, it is now up to the altcoins to continue its development and progress.
When it comes to EOS, it contrasts Cardano in several ways. EOS was created through the use of Delegated Proof-of-Stake, or DPoS. Its goal is to allow faster crypto adoption and on a larger scale. However, many would argue that this system damages the project’s decentralization. On the other hand, EOS has shown a lot of progress, it fixed its flaws, and it is among the best platforms for dApp creation. It’s free, it managed to tackle scalability issues that so many other coins have to deal with, and its development is still advancing at full speed.
In the end, the question of EOS vs Cardano still remains unanswered. Both coins are still being developed, and have a lot of potentials to change the world. They have capable teams, and even more capable leaders behind them. In the future, one of these might grow exponentially and leave the other one in the dust. However, for now, it is extremely difficult, if not impossible, to tell which one will end up a winner.
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 Pexels
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
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
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…