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EOS is a blockchain platform for the development of decentralized applications (Dapps), similar to Ethereum in function. It is available for trade on the Huobi Pro exchange from Bitcoin and USDT. They used the Ethereum platform to create their own tokens and run smart contracts with the ERC20 standard. EOS uses the Distributed Proof Of Stake (DPOS) for “governing” while Ethereum relies on Proof Of Work for mining and verifying transactions.
Developed by crypto guru Dan Larimer, EOS raised $300 million during their ICO stage to engineer their disruptive blockchain.
EOS is currently traded at $8.85, (according to Huobi Pro), and has a current market cap of $7 billion. The 45% spike in valuation has put them in fifth place, passing Litecoin in the crypto race to beat Bitcoin.
Why be bullish with EOS?
Many new exciting projects are upcoming for EOS in the coming months. On June 1st, registered ERC-20 tokens will be freezed and converted into real EOS tokens on the EOS blockchain. Some airdrops have been distributed by eosDAC to bring in new investors as well. An EOS hackathon is taking place in Norway on taking place April 29–30th. Countries will define their regulatory laws as time passes by. Malta and Belarus are the crypto- friendliest countries in the world. Will more countries follow their legislative proceeding?
Dapps are the solution to Facebook
Mark Zuckerberg has stated in the past that his goal is to fix Facebook. He has also shown interest in the blockchain world., Will decentralization be the answer to Facebook’s current problems? EOS is working on building the best Dapps platform. If there were to be a partnership between EOS and Facebook, this will certainly give EOS an even bigger push to the top. Ethereum has scalability issues, putting EOS in the best position to work with Facebook.
Dan Larimer
The founder of EOS has already worked with two different successful cryptocurrencies aside from EOS. His first stint with blockchain started with Bitshares: a software, bank, network, community, ledger, company, exchange, currency, and Dan asserted that it’s even a country. He introduced the DPOS model with Bitshares. Then came Steem, a decentralized Medium that allowed readers to reward content writers directly. He then left Steem to work on EOS full time and pursue his DPOS revolution.
Disclaimer: This is not a trading advice about EOS. Cryptocurrencies as very volatile and can change in valuation very fast. Please do your own research and due diligence before investing in cryptocurrencies.
By Menajem Benchimol
I think you’re right to be bullish about EOS and many are calling it an Ethereum killer. As to it’s Proof of Stake, this is something Ethereum is working on and my understanding is that all coin with a PoS element are actually a hybrid of PoW and PoS, rather than just PoS. Ethereum’s scalability issue could also be resolved soon due to the Raiden Network and later on by Plasma. However, EOS is certainly a good project. 👍