Current EOS rates: is an exchange a reliable place for information? Where and how to buy the cryptocurrency, how to start investing and forum reviews
Since the inception of bitcoin, many alternative cryptocurrencies have been created, trying to eliminate all types of technical and functional inconveniences which are present in the first cryptocurrency. Although in many cases such cryptocurrencies, like Litecoin, Ethereum or Dogecoin, have solved various types of technical problems and introduced new functionalities, new projects are still being created that are aimed atadapting the functionality to the expanding needs of users even better.
Recently, there has been a lot of talk about the Monero cryptocurrency (XMR), the creators of which have focused on radically ensuring the anonymity of transactions. What was to be the cause of the growing popularity of this cryptocurrency, has actually become its curse, because the scheme of this cryptocurrency has been recognized by the legislatures of many countries as inconsistent with their laws and regulations. Unfortunately, the reality of cryptocurrencies is regulated by the activities of cryptocurrency exchanges, and these are directly subject to the financial supervision of a given country, which means their activities must be fully transparent. That is why this cryptocurrency, which was to ensure full anonymity of transactions from regulatory authorities, is treated as a way to realize money laundering. or bypassing the tax system.
As you can see, not every cryptocurrency project can be successful, and focusing on one aspect that significantly improves the functionality of the cryptocurrency, which may be conflict with the applicable laws and regulations, is a sure way to get you to nowhere. The basis for the success of any project is the skillful balance of all pros and cons and creating a model of operation that will be loved by users for its versatility and easy implementation in the e-commerce industry. EOS is such a cryptocurrency.
Description and information about Crypto Currency EOS
EOS.IO is a decentralized smart contract platform for creating decentralized applications. The entire system is based on the EOS cryptocurrency, which has been created in a special way: all its units are already circulating in the system. The coin distribution system is based on a different principle than the one we know from, for example, the bitcoin cryptocurrency. Among other things, there is no need to mine more cryptocurrency units, which directly translates into the economic efficiency of the project, as there is also no need to waste computing power and electricity resources. This project involves the creation of a fully scalable system that can be used in the entire global industry.
The potential of the EOS project has been highly valued from the very beginning of its existence. In 2018, barely one year after the launch of the ICO of the EOS project, the capitalization of this cryptocurrency amounted to USD 7.5 billion (on July 26, 2018), which gave it the fifth place among all cryptocurrencies in terms of capitalization. In 2019, Weiss Ratings awarded the EOS cryptocurrency with the highest “A” rating. EOS is seen as a competitor to Ethereum and aims to become a key player in the development of infrastructure for the new Internet. This project certainly has the ambition to initiate a new industrial revolution, in which capital resources will be fully decentralized and means of production will be fully combined into a single, completely scalable IT system. Such a vision is possible, and the authors of EOS predict that the industrial purposes system will be able to handle up to 15,000 transactions per second, and ultimately even 1,000,000 transactions per second. As a last resort, it will also be possible to completely remove transaction fees from the system.
According to the specification published in 2017, the platform was developed by a private company called block.one. This application is based on open source principles and its full documentation was released on June 1, 2018. The first test network of the project was called Dawn 1.0 and was launched on September 3, 2017. Subsequent versions of the testnet were launched: Dawn 2.0 on December 4 2017 and Dawn 3.0 on January 25, 2018. The latest beta test of Dawn 4.0 was launched on May 7, 2018. In June 2017, the EOS.IO platform was unveiled to the public. The community launched its own mainnet on June 10, 2018.
The most interesting idea of the EOS cryptocurrency is its network management model, in which, in addition to block producers being chosen in democratic elections by cryptocurrency holders, there are digital arbitration institutions (EOS Core Arbitration Forum), which are supposed to react in the event of violation of community rules, attempted theft or extortion. The institutions settle disputes in the EOS community and are obliged to react in the event of errors and irregularities. The ECAF, acting as a digital court, has broad prerogatives that allow it, for example, to order to freeze specific EOS wallets of Block Producers if there is a suspicion of committing a crime (theft of funds, hacking attack). Such a situation already took place at the beginning of the operation of the EOS cryptocurrency, and the arbitration court of this network passed that test with flying colors, preventing the release of funds that were the target of the attack.
In order to activate cryptocurrency users, the creators of EOS introduced point 17 in the j EOS 21-point constitution, which determines the time after which a given wallet becomes inactive and can be irretrievably deleted. The period is three years. If the user does not make any transactions during this time, their funds are forfeited and put up for auction. Many blockchain industry experts believe that EOS is not strictly based on blockchain technology, and that it’s only a cloud computing service that does not use any cryptographic advances and stores all transaction-related data in the form of a Chainbase table. This information may scare people who care primarily about the anonymity of transactions, however, the business idea of basing the entire global industry on one, decentralized system is very interesting and worth paying attention to.
Where and how to start investing in EOS Crypto Currency?
In a nutshell, the EOS cryptocurrency is the main competitor of Ethereum, offering a more efficient smart contract environment. It’s an ideal platform for start-ups, both because of the Decentralized Enterprise Creation (DAC) services it offers and the ability to design decentralized applications (dApps). In addition, EOS provides cheaper and faster transactions, and the plan to ultimately eliminate transaction fees is an incentive for everyone who wants to either earn money on EOS speculation, use its unlimited possibilities, or both. How to start using EOS? It’s very simple, just buy EOS tokens – once you have them in your account, you will have full access to all functionalities of the EOS.io platform. Undoubtedly, the most profitable investment in the purchase of EOS tokens will be experienced by developers who, after purchasing tokens, receive access to the EOS development environment. The EOS.io platform uses the WebAssembly programming language, which was established in 2017. It is a combination of Rust and C ++. Rust is a programming language developed by the Mozilla Foundation, which is intended to be safe, concurrent and practical. C ++ is, in turn, a well-known high-level language, which is characterized by a high level of abstraction, disregarding the need to know the nuances of hardware application development. WebAssembly is developed by the Mozilla Foundation and also by corporations such as Microsoft, Google and Apple. It is therefore the language in which programs creating a new industrial revolution based on blockchain technology will most probably be written.
Reviews for EOS Crypto Currency. What do they write in the forum and in the press?
There is a disagreement among experts and users of the EOS cryptocurrency. A study of the basic protocols of EOS cryptocurrency blockchain by Whiteblock and ConsenSys, which specializes in comparing data, says that EOS is not strictly a blockchain, but simply offers cloud-based data processing services enriched with a development environment. Experts believe that it’s a cryptocurrency that does not use blockchain cryptography, as it stores all transaction-related data in the form of a Chainbase table. However, these reports are not decisive from the perspective of ordinary cryptocurrency users. The value of the EOS cryptocurrency increased more than 15-fold between the end of 2017 and the beginning of 2018, from around $1 to over $15. Currently, its price remains above $2 per EOS unit, which proves a stable interest in the service offered by the platform and the withdrawal of speculative profit-oriented investors. It is also worth noting that EOS was once again at the top of the podium in the 17th edition of the Global Public Blockchain Technology Assesment Index published in April 2020 by the Blockchain Research Institute, which is led by the Chinese Information and Industrial Development Center. When concerning the criteria taken into account when evaluating projects, EOS blockchain received the most points for technology. Many believe that a project like EOS is only the first step to revolutionizing areas such as the Internet, finance and law, but participating in this process and trying to implement it in your own business projects is definitely worth it. Certainly, one of the most important indicators of the popularity of the EOS cryptocurrency will be its price regulated by the demand of developers who will want to create better business processes based on this technology, so paying attention to the price of EOS might be wroth it. Certainly, the popularity of this cryptocurrency is visible through the turnover of Korean and Chinese stock exchanges, which translates into the interest of mainly Asian users.
EOS rates. Where to check them?
The EOS rate can be checked on virtually any website that publishes cryptocurrency rates. However, some sites offer simple metrics that may not be sufficient for those professionally involved in investing in new blockchain projects. The most comprehensive information related to the price fluctuation of the EOS cryptocurrency can be found on the Coinmarketcap website, which offers an extensive system of indicators, including total cryptocurrency market capitalization, daily change in trading and volume available for sale, and much more.
Coinpaprika, in addition to basic and advanced indicators, also offers newsfeed on the EOS cryptocurrency from popular social networking sites such as twitter or reddit. The Worldcoinindex website offers the same service. In addition to basic information, the Coingecko service also shows real-time information on the EOS cryptocurrency from various exchanges, available buying pairs, price, available volume and user confidence in the services of a given exchange. In addition, the website offers a simple technical analysis chart and a measure of market investor mood.
Where and how to buy EOS? What Stock Exchange will be the best?
The availability of the EOS cryptocurrency and the ability to quickly carry out a purchase depends on the volume of cryptocurrency traded by a given exchange. The latest data show that the Huobi exchange is the best for this goal. By 2019 this exchange was already responsible for the trading of approximately 25% of the entire available EOS volume. EOS tokens on this exchange can be purchased for BTC and USDT.
The second exchange worth considering for the purchase of EOS tokens is the OKEx exchange, the users of which sold or purchased about 17% of the total EOS pool available for sale in 2019. The highest turnover was obtained from accounts using BTC and USDT. ETH was used to purchase EOS to a lesser extent (1% of the value of all transactions).
Exchanges such as Binance, Bitfines and Bithumb come next in line. The purchases of users of these exchanges did not exceed 15% of the total volume sold. If you want to buy EOS for the equivalent of FIAT currencies, the best place for this purpose is the Kraken exchange, which offers the purchase of EOS as converted from dollars and euros.