As Tron (TRX) steals the spotlight with its own MainNet launch on the 31st of May, EOS (EOS) is also preparing for its own launch MainNet on the 2nd of June and at 22:59:59 UTC time. The current countdown available online shows that we are less than a week from the launch.
Back in Mid April, EOS managed to edge out Litecoin (LTC) from the number 5 spot according to coinmarketcap.com. This happened around the 11th of April, EOS jumped by 31% in value to trade at $8.76 and taking the number 5 spot from Litecoin. EOS has since held on to that position with a market capitalization lead over LTC that is now at $4.2 Billion.
The next contender for EOS on the list on coinmarketcap.com is Bitcoin Cash (BCH). The coin is holding on to the number 4 position with a market cap of $17.623 Billion at the moment of writing this. The gap between BCH and EOS is of a market cap worth $6.563 Billion. To catch up with BCH and edge the coin out of the number 4 spot, EOS will have to be valued at $20. EOS had reached this value and surpassed it on the 29th of April this year when it peaked at $21.46.
But many crypto-enthusiasts believe that EOS has its sights on a ‘bigger fish’ in the name of Ethereum. Many believe that EOS will be the Ethereum killer in terms of being the platform of choice for developers creating decentralized apps and even in terms of market capitalization. To note is that the Ethereum network has been hit by issues with regards to its security and scalability. The ETH network has been found to have over 34,000 vulnerable smart contracts with the most famous being the Parity incident that leftover $200 Million in ETH locked up indefinitely in a smart contract.
The Ethereum platform has also been recently clogged due to Crypto-kitties and other DApps such as Pepe the Farmer and Shrimp farming. The current backlog in transactions stands at over 27,000 in the Ethereum network and according to Etherscan.
This then gives EOS the chance to prove itself in terms of providing a secure and more scalable option to that of Ethereum. The current Technical Paper of EOS available states that EOS will be a new blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications. This will solve the transactions per second issue seen in Ethereum. In terms of security, EOS has introduced a time-based security option where certain actions must wait a certain time before being executed.
The rest of the capabilities of EOS can be read on the whitepaper. Another option will be to wait for the MainNet launch on the 2nd of June that is sure to bring some action in terms of boosting the value of EOS in the markets.
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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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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. One of the ways to have a successful trading…
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…