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EOS Welcomes a New Team Member

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EOS
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The last two months have been outstanding for EOS, which has witnessed a steady gain. The cryptocurrency, which was on the rise due to a number of exciting developments, outpaced Litecoin to move up. As the market capitalization of EOS skyrocketed, its popularity soared over the last couple of months. The latest price trends, however, have sent shock waves across the crypto community, as the crypto market has been hauled into a sudden depression, sending many well-performing currencies in the red.

Like any other major altcoins in the market, EOS is struggling to recover from a price slump. As per the price trends, the coin is showing signs of a rebound. Although the general sentiment of the market is bearish, there’s some good news for EOS investors. The following segments explore the recent developments on the EOS blockchain.

The CFO of Australia’s Commonwealth Bank to Join EOS Blockchain as a COO

EOS, the Hong Kong-based decentralized platform, which is often considered as a threat to Ethereum killer, boasts an amazing development team. The developers working on the blockchain managed to raise $2 billion in a single ICO offering. Considering the developments on the blockchain, the currency, which ranks 5th by market capitalization, could overtake Ethereum in the coming days.

While the sudden price drop has sparked confusions in the crypto community, EOS is all set to surprise its users with exciting new updates. As per the updates released on May 14, Rob Jesudason, the CFO of the Australian Commonwealth Bank has left the bank to join Block.one. Since Block.one is the developing team behind EOS, this is news for EOS. As per the reports, Jesundason has been appointed as the president and chief operating officer of Block.one. “Blockchain will have a transformative impact on most industries in the coming years and will redefine operating models by streamlining businesses, while also reducing cost and risk,” Jesudason said.

Block.one has generated the EOS tokens that were distributed as initial coin offering in June 2017. This means that the blockchain project will turn one year in the following month. At any rate, there is no better way of commemorating the occasion, as Jesudason’s joining will be a significant development on the blockchain. Speaking of this occasion, CEO of Block.one observed that he sees Jesudason as the perfect candidate for the COO post. The ex-CFO of the Australian Commonwealth Bank, who has been at CBA for over six years, has earlier worked on several other projects, including IFS, Credit Suisse, JPMorgan, Barclays, GE Capital and McKinsey.  Block.one’s  CEO Brendan Blumer who is happy with the decision, reported, “Rob has a proven track record of success in global financial services, where he has been involved in industry innovation and facilitated regulatory advancement enabling the adoption of new technologies.”

New Developments on EOS Blockchain

While the return of the bullish sign has alarmed many investors, EOS blockchain anticipates some positive changes in the future. The blockchain, which invigorated the traders’ interest by launching new software update, Dawn 4.0, is striving to make some interesting upgrades on the blockchain. Tracing its recent developments, the EOS mainnet launch and the new project called Infinito Wallet have created quite a buzz among investors.

Infinitowallet, which has its headquarters on the Isle of Man, UK, now accepts EOS tokens registrations. This registration process is mandatory to translate ERC20 EOS tokens to its own platform. As of now, Infinito Wallet accepts seven big currencies and tokens that are based on the ERC20 and NEP-5 blockchains. Conveniently enough, Infinito Wallet has launched an app for its project for both iOS and Android users.  Operational since 2017 in the UK, Infinito Wallet is on its way to becoming a universal wallet for all types of cryptocurrencies. As reported by Infinito Wallet, the project is one of the first candidates to support EOS’s hyped-up mainnet launch. All the ERC20, tokens which are registered with the EOS ICO, will need to register with EOS before June 1, as the EOS ICO will conclude on that day and any unregistered tokens will freeze.

EOS and the Market

With the cryptocurrency market recovering from a sudden price slump, many top gaining currencies like Tron, EOS, and others are reversing their gains. As of May 16, 2018, the currency is trading at $12.35, with a 13.27% drop. While it is evident that EOS is slowing down, with a stable trading volume and a market cap of $10,608,833,816, the currency is here to rule.

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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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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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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…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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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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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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