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Will EOS (EOS) Edge Out Bitcoin Cash (BCH) After Its MainNet Launch?

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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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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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