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Fighting it out for the Top Spot: EOS against Ethereum

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The Cryptocurrency marketplace has been receiving hype, both from the media and the investor community at large. The majority of the industry’s focus is on projects and platforms that highlight the decentralized nature of trading with such cryptocurrencies, with Bitcoin undeniably claiming the top spot. However, over time, newer alternative networks like Ethereum started to emerge, providing more efficiency to capitalize on the untapped capabilities of blockchain technology. While Ethereum had been the “go to” platform for developing decentralized applications, fledgling projects like EOS have now turned into quite a threat to Ethereum’s position. EOS aims to address all the plaguing issues such as scalability on the Ethereum Network and is thus marketed and structured quite differently from Ethereum.

Current market Scenario for Ethereum and EOS

Both Ethereum and EOS are major players in the crypto-space, with Ethereum undoubtedly claiming the higher ranking, ranked 2nd, as of 24/04/2018 in terms of market cap. EOS, a relatively new arrival in the dApp market, has since achieved a ranking of 5th at the time of writing, which is indicative of the success attained by the EOS team over such a short time.  Although Ethereum’s market cap of $67,624,318,227 is considerably greater than EOS’s $11,077,704,597 market cap, EOS has enjoyed significant success this year compared to a rather low performing first quarter for Ethereum. In terms of growth, EOS was trading at a high of $6.76 on March 25th to $11.79 on April 23rd. Comparing this with Ethereum’s value, which rose from $ 535.82 to $ 646.70, EOS has definitely seen more of a growth than its older counterpart.

Major Points of Competition between EOS and Ethereum

Both Ethereum and EOS are platforms for developing decentralized apps on the blockchain network, with Ethereum being the first to introduce the smart contracts functionality to its blockchain. Smart Contracts are the main basis for decentralization and eliminate the risk of fraud or malicious third party interference.  EOS’s platform is based on the Ethereum model with some major improvements including higher transaction processing speeds and lower transaction fees. Below are some points of difference between both networks in terms of usage.

  • Target markets: When it comes to targeting users, Ethereum and EOS have quite a different approach, with Ethereum receiving funding from different investors through crowd sales and private investments. Ethereum currently is the number one choice for bigger organizations for developing their own dApp on a secure blockchain network.
    EOS, on the other hand, focuses mainly on independent developers who are looking to produce a diverse range of dApps efficiently and with a profit. This is because EOS has no transaction fees, which are really helpful for users on a tight budget.
  • Protocols: Ethereum uses the Proof-of-Work protocol, capable of processing an average of 15 transactions /second. The proof-of-Work consensus protocol requires miners to prove their verification speeds on the network to claim a reward or return. It also allows the Ethereum network to automatically address issues with any dApps on its network. On the other hand, EOS uses a delegated Proof-Of-Stake protocol which is designed to eliminate the “bottleneck” experienced by the Ethereum network. It is radically different than the PoW protocol, as developers can easily address issues in a dApp without freezing or affecting other accounts on the network. This is also the prime reason for EOS’s instantaneous transactions.
  • Programming Language: When it comes to programming languages, Ethereum can only use “Solidity” a native programming language designed for Ethereum. EOS, on the other hand, has the ability to use any programming language which is compatible with Web Assembly. This includes C++, which is preferred by an overwhelming majority of developers in the industry.

Closing thoughts

Both EOS and Ethereum currently hold the top spots for dApp development on the blockchain network. Ethereum’s older model may have some lingering scalability issues but is still preferred by industry leaders due to its reputation and longevity in the market. On the other hand, EOS caters towards developers as well as users who prefer faster transaction processing speeds, as well as lower transaction costs. Overall, the success of both projects depends on the future plans of both teams, as well as the degree of adoption these platforms experience among the general populous.

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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

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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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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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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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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