Never has a blockchain been worth so much before it even existed. The masterpiece of Blockchain architect Dan Larimer promises to solve all the problems that other cryptocurrencies suffer. So far, however, it is above all making its founders even richer. However, EOS will show what it can do in early June.
For many cryptocurrencies, prices are currently jumping up. But not as strong as EOS. Since mid-March alone, the value of the 840 million EOS tokens more than tripled, rising from around $ 5 to over $ 19. This puts EOS in fourth place in the ranking of cryptocurrencies by market capitalization. This is even more surprising when you realize that the tokens were traded at the beginning of November 2017 at around 50 cents.
That's what you can call Performance: the course of EOS.
Anyone who has invested in time has multiplied their efforts thirty-fold - and that while EOS does not yet exist. So far, the currency exists only as an ERC20 token on Ethereum. What the …? How does EOS come to be this year's most hyped blockchain project?
Before we get to the technology, we stay with the people behind EOS for a moment. Because these are at least as interesting. The budding blockchain has behind it some of the most prominent and richest players in the eco-system. On the one hand there is Dan Larimer, who as the inventor of BitShares and Steem has already proven that he can form highly scalable blockchains. He is supported by Brendan Blumer and Brock Pierce of the investment company Block.one. All three have a place in the Forbes list of the rich in the crypto world.
Great Expectations
A big part in making Larimer, Blumer and Pierce three-digit millionaires or billionaires has been the sale of the EOS tokens. The token sale is about a good nine months and will be completed after 341 days. It will sell about 900,000 tokens. Two months ago, the team had taken more than two billion dollars, making EOS the most successful ICO ever.
There seems to be an expectation that Dan Larimer will do something great with his third try. But what exactly does EOS want to achieve? The "Epic Operation System" is intended to become a decentralized operating system for Dapps (decentralized applications). According to the usual statements, whether on Reddit or Steemit, EOS will have accounts and databases, make it possible to identify the users, and be able to scale to millions of transactions per second thanks to various methods. EOS is to become the platform for smart contracts and distributed computing, as well as the blockchain for all financial transactions. The claim is to make all other cryptocurrencies redundant, making EOS the most successful ICO of all time.
EOS is to become the Google of blockchains!
The Technology
Like BitShares and Steem, EOS uses the "Delegated Proof of Stake" (DPOS) developed by Larimer and already used by Lisk. This is, according to the EOS technical white paper, "the only known decentralized consensus algorithm that has been proven capable of meeting the performance requirements of blockchain applications." In fact, BitShares and Steemit succeeded in using this technique Process thousands of transactions per second without the latency of the network firing through the ceiling. At least in test environments. But even in everyday life Steem is able to cope with many transactions (about 1.5 million a day)
In short, DPOS works in such a way that the "community" selects a certain number of block producers - at EOS, there are 21 in number, which then verify transactions and blocks and update the blockchain. In this election, each user gets one vote in relation to the number of tokens he holds. It might be a little bit like the US election concept, except that there is a continuous choice where users can fire a block producer at any time if they are wrong. Of course, block producers are rewarded with EOS tokens for their work. They also ensure that EOS has a kind of "government" that, for example, makes decisions about how the software will be developed further.
As the white paper explains, EOS will have an account system that is more reminiscent of websites than blockchains: the users are identified by a name or a pseudo-symbol. Each account holder can determine in different gradations, which rights are assigned, if other users interact with him. This allows different roles to be assigned to EOS ecosystem actors, depending on their role in a smart structured relationship. Also, it will be possible to recover funds if private keys have been stolen, or to freeze accounts when they are carrying out some criminal activity. Both are done by a majority decision of the block producers.
A multitude of scripts and a virtual machine ensure that virtually every imaginable Smart Contract can be executed on EOS. This puts the project in direct competition with Ethereum - even while it exists exclusively as a token on the Ethereum Blockchain.
In order to get thousands, or even millions of transactions (as the presentation of EOS), the project relies on several concepts. On the one hand, it is assumed that the 21 block producers have enough hardware to handle the data load. Furthermore, data processing at EOS will be massively parallelized. Most importantly, EOS should build a universe of sidechains that can be used with the same token.
The Governable Blockchain
EOS plans to form a governable blockhain. A cryptocurrency that is managed aristocratically, with the 21 block producers having extensive rights to intervene in the financial and other interactions. The immutability that we know from Bitcoin and also from Ethereum - at least changes in Ethereum are now extremely difficult - is just as little sought by EOS as the freedom of permission that gives each Bitcoin or Ethereum address the same rights.
EOS is, in other words, an attempt to make a blockchain palatable to the governments of the world. EOS offers some of the benefits of blockchains - transparency, decentralization, openness - without taking on the loss of control many governments fear about blockchains. Personally, I find that relatively boring because EOS is simply giving up two of the most exciting aspects of blockchains - the freedom of permission and immutability - and reinstating what a cryptocurrency should not have: a government.
But for many others, EOS seems to be doing well. Bitfinex, for example, has already agreed to form a decentralized exchange based on EOS (EOSFINEX), and Bitmain, a major manufacturer of Bitcoin mining hardware, is already applying for a job as a block producer. In addition, there are numerous other projects that intend to use the EOS blockchain.
Click on the image below to see all the EOS projects:
However, this blockchain is not yet officially available, even if it already exists as a test network. At the beginning of June, however, EOS will officially go live. Then you will see if the project will meet the high expectations.
Inspiration for ICON
ICON was inspired by Gilles Deleuze and Felix Guattari's rhizomes - "The world without center and the world in which each point is just a connection to other points." ICON is a link for different cryptocurrencies with different blockchain governance models and connects the crypto world with ours real world.
ICON, a project of the Swiss ICON Foundation, is also concerned with interoperability between different blockchain systems, as an essential requirement for cross-ledger, user-friendly, secure and frictionless flow of information and value. ICON's vision is to redefine the importance of local communities, thus paving the way for a period of decentralization.
What is ICON?
The 43-page ICON white paper is available in both English and Korean, giving us insight into ICON's vision, architecture, components, and features.
On Github, ICON has recently provided 6 repositories, including the "loopchain core engine open source edition" as a fork of loopchain, a Seoul-based blockchain project "theloop".
ICON is made up of a network of different blockchain-based and independent communities that are connected via a "C-Rep" portal, forming a larger community, the ICON Republic. ICON Nexus is the blockchain for ICON Republic, and enables transactions between Nexus-affiliated communities. A nexus can be connected to other Nexus-equivalent blockchain networks, providing a variety of options for extending and scaling blockchain systems.
The Nexus Blockchain is based on loopchain, a high-performance enterprise blockchain with smart contract features that can be configured to meet operational needs and connect to other distributed ledger networks.
Nexus enables distributed governance by including portals and various nodes, and enables transactions between independent portals and Nexus-based blockchains based on Blockchain Transmission Protocol (BTP). Nexus uses loopchains LFT consensus algorithm. Representation Channels can be used to propose and coordinate proposals for operational guidelines. Each portal participates in the Representation Channel through C-Rep, the representative of the municipality.
Embedded in Nexus are ICX tokens, which can be used by the interconnected blockchains for value transfer. New tokens will be issued within a cycle of about 15 million blocks or within one year. The annual output of new tokens is determined by ICON based on various factors, with a maximum of 20% allowed. Adjustments to output new ICX are made via the C-Reps and the Representation Channel. The transaction fee is currently 0.01 ICX.
Another architectural component of ICON is DEX (Decentralized Exchange) for the realization of transactions in different crypto currencies within the ICON network. ICON was inspired by Bancor to determine exchange rates.
ICON DEX comes with an interesting feature: An analysis model that can help to stabilize cryptocurrencies through price, exchange rate, transaction volume, and artificial intelligence data. ICON builds on its experience with DAVinCI LABS for predicting loss rates in insurance, credit risk or exchange rates.
With the help of the ION (ICON Incentives Scoring System), an AI-based rating system, ICON can optimize the bonus structure to vitalize the ICON Republic.
Nexus Public Channel - a feature based on loopchain's multi-channel feature - allows any user to perform ICX transactions, as well as build and use various distributed applications (DAPPs). Unlike Ethereum, where the code is contained in the transaction data and executed in a virtual machine, ICON DAPPs are provided in a store and must be installed before use.
SCORE (Smart Contract On Reliable Environment) is an advanced smart contract feature from loopchain. With SCORE, high-performance smart contract code can be executed directly in the operating environment of the nodes, without a separate virtual machine.
ICON provides its own wallet ICONex for ICX and various other cryptocurrencies. Currently available as Chrome Extention, the Android and iOS applications are announced.
ICX - The ICON cryptocurrency.
ICON has its own token tradable under the symbol ICX at various exchanges against BTC, ETH, Tether (USDT), Binance Coin (BNB), LATOKEN (LA), Indian Rupees (INR) and South Korean Won (KRW), where Binance handles most of the transactions. The ICX price is currently around $4.23 USD, with market capitalization currently at around $1,639,115,447 USD, which puts it in 21st place.
The ICON token ICX came on the market after a successful ICO in September 2017. In total there are about 400 million ICX token, with around 387 million in circulation.
Investing in ICX may be worthwhile, but a comprehensive analysis of competition such as Cosmos, Polkadot, HCash should not be abandoned.
ICON team and partners
The ICON team consists of 8 advisors, including Don Tapscott, 6 Foundation Councils, 30 Blockchain professionals, and 8 AI and 8 design, security and communications experts.
The list of ICON partners includes Venture Capital, Global Accelorators and crypto-focused legal experts such as Pantera Capital, Kenetic Capital or Crypto Bazar, as well as blockchain media platforms such as Forbes, Bloomberg and CoinDesk.
ICON co-founded the Blockchain Interoperability Alliance with Aion and Wanchain in December 2017. Wanchain is working on a new distributed financial infrastructure, Aion focuses on scalability and interoperability in blockchain networks. The Alliance works and researches together for a common goal: the development of inter-operational standards for interchain networks and protocol architectures.
Perspective
ICON presents various interesting loopchain projects on its website, such as for securities, banks, insurance companies, universities or the healthcare sector.
Twenty-six Korean securities companies jointly formed the Korea Financial Investment Blockchain Consortium in 2016, the largest blockchain organization for a single industry. The market launch of the world's first blockchain service 'CHAIN ID' followed at the end of 2017. The applications for clearing and settlement are planned for 2018.
The bank commune of the ICON network is developing a digital pre-paid payment system with features such as Digital Account Management, Recharging, Transfers, Withdrawals and Digital Currency Management.
A consortium of insurance companies launched an automatic receivables service based on loopchain. This allows customers to claim their claims easily.
All in all, ICON seems to be very well positioned in the market. It will be exciting to see how ICON will succeed in consistently implementing its ideas and visions. Strong partners and the Blockchain Interoperability Alliance could actually set new standards for a "hyperconnected world".
Video Source:
Image Sources:
- Article headers created by myself
- https://blocktivity.info/
- https://eosindex.io/posts?page=1
- https://icon.foundation
- https://coinmarketcap.com/currencies/icon/
Have a nice day!
LOVE&LIGHT
Both Icon and EOS are fantastic projects. I think the price for EOS will be going up more towards end of June, so maybe still time to jump into this project and buy whenever and 'if' there is a small dip again.
Yes I agree!
I think that is whats asked in the post. Why? It doesnt even exist yet. Nice icon is the buy?
Eos is launching their main net end June. Normally prices rise sharply when that happens. But both are good buys,
great :) going to buy lolz
Now is your time to get in ladies and gents, EOS is on a low currently but once the market comes back EOS will be shredding off its losses and making us more $$$! Current price is around $14.00 and fluctuating but I don't believe we will see this price for long!
you got your small dip, buy buy buy :-)
Yes, thanks so much!!!
Good job
agree:)
nice post
Plz follow my profil with steemit
I love ❤️ steemit
좋은 정보 입니다.
Great post, followed and resteemed!
Thanks :)
EOS could be the #1 crypto in a couple years!
Eos makes me sick each time I check the market cap...
I know bro and I am very sorry but I get always a crazy big smile on my face :))))))
But I think bro it's still not to late to jump on the EOS train even just a few coins and in the future you will be happy ;)
Agree 100%, it's not too late and with all the airdrops coming you can still make some money. Once Chintai goes live you will also be able to rent out your tokens, make it rain baby!!!!!!
Agreed :). Thanks for the read @danyelk! Keep an eye out for TIMM. We will be discussing a lot of these sames topics, would love to see you there.
TIMM is it here on steemit?
Thanks for the shout out @mitrin! @danyelk feel free to follow us on steemit.
exactly i believe that we can get to about 100$ this year
Aun no es demasiado tarde estimado @danyelk, muy pendiente con la manipulacion en el mercado, saludos fraternales.
Hi, I just voted you! There are new topics that you might like, the rise of BTc as imminent criterion.
https://steemit.com/bitcoin/@james0603/charlie-shrem-founder-of-the-bitcoin-foundation
Don't forget your medicine before you go check the market cap next time because who knows, the next price might be deadly shocking! :)
you mean like 2$?
Might be @zxt. If it gets that low, I'd might be inclined to just buy some more. Got to catch it low and ride it all the way up ;)
I am to long into crypto nothing can shock me more but just in case I have my medicine always close to me ;)
Please look at the crowdsale account of EOS on Etherscan at the end of each token sale period. You can see nothing but "pump", There are the same several accounts which use 5000eth-10000eth each time to buy in EOS at the very last second of each token sale period. It is clearly the price manipulation and it make me sick about this project.
Damn I just checked it and it really looks like pump.
i've been monitoring it for a month, try to connect the dot.
make a post on it
Ok, i will
While I agree this does seem suspect and can/should raise flags, I think it is tangential to the actual EOSIO project which is damn solid (and hopefully can deliver). I would love to hear more about your findings however as they progress. Following you now, throw a post up when you get more insight.
Thank you for that information @danyelk and also this reply from @dungnhan , I was just checking out eos and I really don't know what to think about.
Could it be exchanges buying? The truth will come in June, when they stop putting out these 2 million tokens a day.
This is a timely post. After reading this, I immediately checked my trading account at etoro. It looks like a good time to buy today. Thanks for posting.
Cryptos are taking a bashing today. I am picking up some EOS.
Great post with a lot of fantastic info. I am so geeked about June 1st. My birthday was in April, but I didn't even care because I am just so excited for June to get here. My biggest regret is that I didn't get in sooner and buy more, but I have a feeling a lot of people feel that way. Buying in at $18 right now is still not going to be a bad move. The long term benefits and gains are going to be where it is at!
Thank you!
Same here my birthday was as well in April and I didn't care much just waiting for June to come. I am one who bought in early for $ 0.50 - $ 0.70 but your right it's not to late to jump one the EOS train I am going to buy a little bit more even for $ 25 :)
Oh wow! Awesome for you. I was late to the party and had to buy in for ~$5. I envy you :) We are all on the right track though!
This is a really cool overview of EOS technology, thanks for that. Maybe finally I will understand what's the all fuss about :) @tipu upvote this post with 1 sbd
Thanks buddy and thanks for the tipu vote :)
EOS is priced to perfection on promises. I missed the boat on this one and it’s too late now. Let’s see what happens! I still favor ether
It's never to late buddy the price is still okay $ 15 today and in 1-2 years $ 1000 so I don't think it's to late ;)
Thanks for the icon background I have been meaning to learn about that one
ICX and EOS, both are excellent. I'm a long time hodler of these two!!!
EOS, ICON, Ontology outshined my thoughts about them
Speaking about EOS...@dan is a cool calm genius. His projects always made great fame and hit
EOS might be the next big Crypto. Prior to the launch date, it has made great price how much more would it go when the mainnet is launched?
I feel Dan Larimer is the Satoshi with a Pyseudonym
Dan is indeed the man. An extremely intelligent software architect... and a master among few in the blockchain space.
which one is best? ICON or EOS?
That is why experts recommend to hodl EOS.
And you know what another same Platform like EOS or I think More powerfull coin in the eyes of experts is Wanchain coin.
Wanchain is ETH XMR & XRP all in one. In theory, it is superior to all of them. Firstly, it is a fork of ETH so has smart contract capability but already has POS and private transactions. It is better than XMR because it generates a new one time address for private transactions everytime. Lastly it is better than XRP because it is actually decentralised and can allow banks (and normal people) to not only do settlements but also provide credit and lending facilities. The icing on the cake is that Wanchain connects all blockchains with its interoperability features.
So for newbie and hodler stay tune there is indeed something big in Hodling.
Hell yeah Wanchain is some awesome project and interoperability looks like the next new big thing in blockchain.
If you like check out this post I did a few days back it's about Wanchain ;)
https://steemit.com/cryptocurrency/@danyelk/meet-carol-and-her-one-day-in-life-with-lightning-wanchain-the-future-of-a-decentralized-financial-structure
You can buy and register EOS easily using Exodus WalletEven if you are American, you can use Exodus to exchange Bitcoin or other cryptocurrencies for EOS. Exodus doesn't require your name or ID like Coinbase does. Exodus Wallet is only availabe on Windows(64 Bit), Mac, or Linux. You can't use Exodus on a mobile device like an iPhone.
Thanks for the info @teachinthai!
Cant't wait till EOS mainet launch!
If Steemit is anything to go by then EOS will be a great platform.
This is awesome @danyelk really appreciate the read!
That's great post.
I appreciate your blockhain.
Thanks for this cryptocurrency.
Hi @danyelk! You have received 1.0 SBD @tipU upvote
from @cardboard !
@tipU pays 100% profit + 50% curation rewards to all investors, allows to automatically reinvest selected part of your payout and other cool stuff :)
If you want to delegate, write a comment: @tipU I want to delegate X SP - where X is the amount of SP, and @tipU will answer you with a link :)
I want to agree @tipU
Excellent project both Icon. It seems that
with in short time EOS will be in going onward and up. Wait to see
Thanks for your nice post
FOLLOWED UPVOTED
This was really well written, thorough and I learnt a lot. Thank you.
共识即价值。
Good job
Haha! Are we gonna see the lost brother of Bitcoin soon?
You got a 13.99% upvote from @postpromoter courtesy of @danyelk!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
Really fantastic expectations indeed
We hope that Steam will achieve this rise
Something very special
That's great post sir...... best of luck.
ICX is best token ever
@kretorkk
Its nice and great post.
I appreciate your blockhain.
Thanks for this cryptocurrency.and i am new on steemit.
Bruh, those are big promises. If EOS can deliver it will be a game changer. And if ethereum is too slow to host it, Go chain will take care of business!
hi i'm a newcomer in steemit. I am glad if you can help me to grow in steemit
I can only help you with upvotes if your content is good and if I like it but to grow on steemit that is in your hand.
thank you of support
Hey @danyelk ! Great post buddy !
nice post i upvoted you
Please Stop - @sshappydayz
You just said "nice post" and in your your last 100 comments you used 54 phrases considered to be spam and you made this exact same comment 5 times. You've received 0 flags and you may see more on comments like these. These comments are the reason why your Steem Sincerity API classification scores are Spam: 81.60% and Bot: 3.20%
Please stop making comments like this and read the ways to avoid @pleasestop and earn the support of the community.
I didn't know EOS had this much grandeur!!
Thanks for tha article, I have moved loads of my alts to buy eos over the last little while, I sure hope that it can live up to the hype. From what I am reading and seeing on the release front it certainly seems like it will.
Your block chain post is so important that I learned a lot from the graph that you gave us the graph, we learned a lot and learned how much you can do using this very beautiful technology. You can increase your interest in posting such and teach us to know you Thanks a lot.............
tokens that don't even represent ownership of a company that has no product valued at $15 billion, no thanks lol.
Thanks for this post.
Great help, thanks, I read this as I knew nothing about EOS. Those doing the remote viewing for blockchain have said the EOS token will hit 250 by Sept this year. Let's see!
Thanks
I'm pretty sure that EOS it will be a succesful coin in the next future.
Yes could be but there anr many other in competitions and Major onces are Ethereum, Neo, ADA etc .. and most of them are already on mainnet.
indeed a detailed post . EoS already worth more then SpaceX ! waiting for main net launch soon..
wow so much information in one post
Eos is a great project already filled my bags with it!
Thank you for the detailed analysis and recommendation. I own a small stake that has more than doubled in value and I wish I owned more. Of course, this makes me happy. While I might not be as technically savvy as many crypto investors I am working to educate myself so I can make better investment decisions. Therefore it concerns me when I read comments by others suggesting price manipulation and other methods to overvalue the currencys worth. I would happy to receive a comment back to explain or bloster my confidence.
Thank you for the detailed analysis and recommendation. I own a small stake that has more than doubled in value and I wish I owned more. Of course, this makes me happy. While I might not be as technically savvy as many crypto investors I am working to educate myself so I can make better investment decisions. Therefore it concerns me when I read comments by others suggesting price manipulation and other methods to overvalue the currencys worth. I would happy to receive a comment back to explain or bloster my confidence.
Nice post it is lot's informative there for i followed you and follow me back
Where’s the problem, darling? Are you mad I flagged you because you have over 95% bot usage on your post? That’s not the first time I see this...
I do that to promote my post and if you think I make big $$$ then I think you have no damn idea. Stop being a fool and focus more on posting good content.
Then your content should be marked as promoted content. Every other platform has this feature. As long as there is no such feature which does mark your content as “promo” I will keep downvoting no matter if it’s quality content or not. I also don’t care if you make money from that or not. If you wanna know more about my intentions read this article by @heimindanger.
Do what you want if it makes you feel better I don't care and now I will just ignore you because I have no time for that BS.
Have a nice day, a good life and stop being a fool.
Plz follow my profil with steemit
I love ❤️ steemit
Plz follow my profil with steemit
I love ❤️ steemit