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EOS vs. OmiseGo: What Future Holds for These Two Fierce Competitors?

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EOS vs. OmiseGo
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After the significant downfall of Bitcoin in January 2018, the competition among the cryptocurrencies that are beyond the influence of BTC has increased considerably. With the leading cryptocurrency in a critical situation, other slightly lesser known currencies are making inroads with their new features and advantages. The presence of approximately eighteen hundred currencies in the market for crypto-traders all across the globe, the vying for a certain price range along with a market capitalization has become even fiercer. Under the circumstances, the competition between EOS and OmiseGo (OMG) seems to be the one that is grabbing the attention of the speculators and crypto-connoisseurs all around the world.

Both of these cryptocurrencies have made considerable progress over the past few months with new developments, technical upgrades, and lucrative partnerships with reputed companies. Despite being relatively new in the market, both of them have managed to topple some well-known big guns in terms of both individual price and market capitalization. However, the competition between these two coins is about reaching the magic figure of $20 as both of them are veering around the $13 mark as far as the price of a single coin is concerned. In this article, you would find out some of the distinct features of both of these coins determining their individual fates by the end of this year.

The Cryptocurrency of OmiseGo and Its Recent Developments

OmiseGo belongs to one of the most rapidly progressive currencies that currently exist in the market. It was first introduced to the market as an Ethereum-based platform capable of supporting payment services and trading along with a highly functional decentralized exchange. OmiseGo is gradually trying to achieve an unprecedented scalability of 1 million transactions per second with its recent technical upgrades.

A few weeks ago, the OMG development team has published an updated roadmap where they explicitly mentioned their future plans along with on-going developments. Some of these technical upgrades include:

  • Elimination of Honte and Cosmos DEx: As the new Plasma DEx is performing significantly better than these two systems, the development team of OMG has permanently omitted these two projects from their roadmap.
  • The Development of Plasma DEx: The OMG developers are working indefatigably on this project for months in order to provide a completely decentralized and secure exchange where the OMG holders can trade this currency from any part of the world. The development is currently at non-custodial plasma DEx stage and will be finished as Full Plasma DEx shortly. Once this project is completed, the OmiseGo users will be able to trade Ethereum along with every ERC-20 token on this platform.
  • Development of Scalable Blockchain: OmiseGo is about to launch one of the most scalable transaction systems for their holders this year. They have already managed developing Plasma MVP while Plasma Tesuji and Plasma Cash projects are rapidly inching towards completion.

Besides these three major developments, OMG team is also working on several other projects regarding the application interface to implement new features. The coin is currently available in several renowned crypto-exchanges like Binance, Huobi, Ethfinex, etc. with a commendable daily trading volume.

EOS Coin and Its Recent Developments:

EOS was developed to offer an unerring blockchain infrastructure for creating and deploying blockchains. Since its introduction in July 2017, this currency has been the center of attention for many traders and companies for its ingenious features. Moreover, EOS is about to migrate from the Ethereum blockchain as it no longer requires its support. On the contrary, EOS has been comprehensively beating ETH in various aspects especially in the execution of Smart Contracts. EOS development team has made a major announcement on the 5th of May, 2018 and as an obvious ramification, the coin has been following an upward trend since then. The announcement was made concerning the upcoming launch of Dawn 4.0.

What Is Dawn 4.0?

Daniel Larimer, the CTO of Block.io has announced the launching of EOS.IO Dawn 4.0 on Medium.com. This unique technology would allow various applications to run into different blockchain and buy unused RAM from them. It would enable users to give away their unused RAM thereby maintaining a balance in supply and order chain. If Dawn 4.0 is properly implemented, it would provide EOS the opportunity to manipulate the price trend as per requirement.

Besides this major development, EOS version 1.0 is also on the way for EOS holders with its innovative new features. The coin is listed on several exchanges like OKEx, Bithumb, Bitfinex, Huobi, and many others.

Current Scenario for EOS and OMG:

At the time of writing i.e. 17th May 2018, both of these currencies possess commendable positions on Coinmarketcap. EOS holds the 5th position ahead of Litecoin with a market cap of 11 billion USD (approx.) and coin price of approximately $13.

OmiseGo, on the other hand, holds the 23rd position with a market capitalization of circa 1.3 billion USD and approximately the same individual coin price of $13.

Final Thoughts:

As far as the current price trends are concerned, both of these currencies are likely to touch the $20 mark within this year. The holders of both coins can be hopeful of a lucrative 2018 if all the upgrades are implemented successfully as per their respective roadmaps. We all know that the crypto-market is known for its volatility and capricious price fluctuations. But the way these two coins are moving, reaching the $20 shouldn’t be a major impediment for either of them.

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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.

Image courtesy of Rogelio A. Galaviz C. via Flickr

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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