Reasons Why EOS Could be the Best Investment Despite Ongoing Scrutiny - Global Coin Report
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Reasons Why EOS Could be the Best Investment Despite Ongoing Scrutiny

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EOS

The EOS hype never seems to go down, whether it’s the speculation of EOS functioning like a centralized bank or getting the first place as the most promising blockchain project according to a Chinese government-backed crypto list. It’s wrong to think that due to its previously exposed vulnerabilities and other technical issues, EOS might be having a hard time. The team behind EOS also known as the 4 billion ICO is doing whatever it takes to keep EOS platform problem and risk-free, secure and easy-to-use. Global hackathons are being held by the team to promote fixes for their platform’s technical issues. The EOS community is still unsatisfied with these events but after the release of Chinese crypto list, its slowly regaining their trust in EOS.

  • EOS Community Worried About the Lack of Decentralisation

Although EOS has been globally acclaimed for its technology, previously exposed vulnerabilities have dealt quite a blow to its performance. Experts have been asking questions regarding its security, protocol etc. Presently, EOS has been under accusations for functioning as a centralized governance. Block.one which has supported EOS project all through its ICO is no longer a part of its current operation. EOS has now taken a rather centralized approach towards protocol governance that has raised numerous questions and surrounded the entire project by controversies. As a result of this, some users have started encouraging the idea of moving out of EOS.

  • EOS Shuts Down 27 Accounts and Catches Fire

The increasing disbelief in EOS decentralized protocol may be linked to widespread phishing scams going rampant during the migration operation when EOS protocol shifted from being an ERC20 token to having its own mainnet. In order to handle the alarming breach of security and EOS core, arbitration forum released an Emergency Measure of Protection Order (E.C.A.F). As per this order, all 27 of EOS block producers immediately froze transactions and it will remain so unless the E.C.A.F. directs them to do otherwise. The strangest part of this event was that according to the E.C.A.F, the order was issued because all seven accounts committed a violation of EOS constitution. According to the reports, 21 block producers have disabled seven accounts. The controversy regarding centralization in EOS started because of the decision to freeze seven accounts due to their involvement in a phishing scam. It was decided unanimously even though, the Block producers and E.C.A.F. do not have the right to make such decision under the rules of consultation with the Rules of Arbitration of the International Chamber of Commerce. As the debate goes on, EOS constitution and Block producer’s actions have raised critical arguments regarding its decentralized protocols within the crypto community.

  • About the First Chinese Crypto List

The Chinese government released the first crypto list on 17th May which contained 28 top cryptocurrencies under inspection. Different currencies are included on this list based on three criteria, technology, application and innovation. This project is controlled by China’s Electronic Information Industry Development Department. The list’s results shocked most crypto enthusiasts because it crowned Ethereum at the 1st place while giving Bitcoin 13th place. Steem followed Ethereum being second on the list. NEM’s XEM secured the last i.e. 28th place. Experts believe that Bitcoin’s continued low performance and Weiss ratings for this year might have influenced the results of Chinese crypto evaluation.

  • EOS Leading All Cryptos According to the Second List

According to the second round which was held quite recently, the global Public Chain Technology Evaluation Index listed EOS at the top leaving Ethereum behind. The results prove that according to China’s first-class domestic experts and scholars, EOS has the potential to lead the markets and give rise to an innovative revolution in the crypto space. EOS was highlighted in the recent index because of its unparalleled technological supremacy, advantages in transaction confirmation, network throughput, and transaction fee. All of these attributes make it worthy of the first place and outperform smart contracts and DApp giant, Ethereum. It shows that the Chinese government is more interested in the technical aspect of cryptocurrencies than its financial worth.

  • Current Market Position of EOS

Despite the growing controversies around EOS, it has undoubtedly proven to be one of the most advantageous blockchain projects. Achieving top ratings on Chinese official crypto rating list indicates that with time people are getting convinced of its huge potential and technical advancements. Currently, EOS is ranked as the 5th biggest cryptocurrency of the world. Its individual price at the time of writing is close to $7.88 which is going up at a rate of 4% according to the data on CoinMarketCap. The total market capitalization is approximately $7 billion and around $1.215 billion worth of EOS has exchanged hands in the last 24 hours.

Closing Thoughts

Even though the EOS constitution and its block producer’s actions are being heavily argued at the moment by the crypto community, it does not affect the fact that EOS has become a truly influential blockchain project which is leading the way in crypto space with its innovation. It’s important to note that the current situation is temporary and the EOS team is trying to achieve transparency and total security of the platform from malicious scammers and hackers. EOS is sure to reach greater heights once Bitcoin price is bullish again.

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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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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

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.

Mission Statement

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, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip

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 like Bitcoin and Dash, to help protect their assets and hard-earned…

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