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The Ethereum Killer: EOS, Price analysis 2018

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EOS is a Blockchain platform which was developed, followed by Ethereum and has also gained much more popular than it. EOS is ethereum killer.

EOS Price Prediction for 2018 & beyond

Introduction

From the day one, of the initiation of the Ethereum community, the Blockchain platform witnessed a widespread adoption and a worldwide fame. The architectural concept of the Smart Contract is very powerful, as it effectively eliminates all the brokers and their associated troubles. It effectively incentivizes along with enforcing a particular agreement between two or more parties.  The trust issues can easily be overcome by the use of smart contracts instead of legal agreements. It is well known that the legal procedures are very tiring in case of any kind of betrayal, but the smart contract makes sure that there is no such activity of backstabbing under its domain. Therefore, the smart contract has indirectly led to the popularity and success of Ethereum Blockchain, following which many other smart contract based blockchain networks are initiated.

 

The EOS blockchain platform

EOS is one such Blockchain platform which was developed, followed by Ethereum and has also gained much more popular than it. Even the EOS blockchain platform, provides an environment in order to run the smart contracts as well as Decentralized applications. It even provides a high amount of scalability, to the overall network, as it incorporates the Delegated Proof of Stake consensus algorithm. It is worth mentioning that the fundamental architecture of the Ethereum, as well as the EOS blockchain platform, is very similar to each other, but there is also a thin line between them which creates the difference in its adoption.

 

The EOS price prediction

The EOS blockchain platform is to experience a bullish momentum in its prices in the cryptocurrency market, as it inherently works on the drawbacks of the Ethereum Blockchain and also to democratize the usage of smart contracts as well as the Decentralized Applications throughout the world. The EOS price prediction for the year 2018, seems to be very futuristic as it effectively overcomes the congestion and the drawbacks of the Ethereum blockchain. Therefore, according to the EOS price predictions, the investors are waiting for the right opportunity to initiate their investments in the project.  

 

EOS consensus mechanism

Also when it comes to the concept of decentralization, the EOS blockchain platform effectively incorporates the Delegated Proof Of Stake algorithm. Whereas the Ethereum blockchain has just shifted from the Proof of Work to Proof of Stake algorithm. In case of EOS, the Delegated Proof of Stake consensus algorithm supports the EOS price predictions to be super positive, as there are dedicated delegates which take part in the process of transactional confirmations. The Delegated Proof of Stake algorithm allows the EOS blockchain platforms, to have 21 equal priority delegates, which take part in the transactional confirmation, therefore creating a stability in the market.

 

Further Insights

According to experts, it is estimated that the scalability can reach up to 100,000 transactions per second. Also, the transaction fees are kept under control due to the parallel scalability along with the nonexistent transaction fee. The Block.one organization, which is the base for the EOS blockchain platform, provides an amazing support which has indirectly resulted in the EOS price predictions to reach the skies. Also, the EOS price prediction would gain acceleration, if the people change their frame of reference from Ethereum to EOS Blockchain platform, in order to develop and maintain decentralized applications.

 

The ultra-supportive EOS community

The EOS community has been very supportive when it comes to the EOS blockchain platform, and it is estimated that during the opening phase of the Initial Coin Offering, the blockchain platform raised huge amounts of funds that no other cryptocurrency project has managed to raise. In a nutshell, the entire initial coin offering raised almost $4 billion and is under constant speculation for this reason. The professionals speculate that the EOS cryptocurrency doesn’t inherently need so many funds.

 

Closing remarks

The EOS prices are undoubtedly set to rise as the developmental team along with the founder are highly experienced in nature and also have been known to deliver their promises in a very consistent manner. According to Coinmarketcap, $5.20 is the current price of the EOS tokens, also the future EOS price predictions are set at the $13 and $21 levels and then the rates would be flat without much fluctuation for a long term. Therefore the investors can obviously look forward to investing in the EOS blockchain platform as the EOS price prediction is super positive.

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Ethereum 2.0 Serenity: All you need to know

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According to Ethereum Founder Vitalik Buterin, the Ethereum 2.0 Senerity is a realization of the research that ethereum is spending time on from 4 years.

Main Features of Ethereum 2.0

– Proof of Stake (Casper)
– Scalability (Sharding)
– VM Improvements (EWASM)
– Improvements to cross-contract logic
– Improvements to protocol economics

 

Serenity Begins

What is Serenity?

According to Ethereum Founder Vitalik Buterin, the Senerity is a realization of the research that ethereum is spending time on, over the last 4 years. Serenity is a new blockchain in the sense of being a data structure which will have to link to the existing proof of work chain. So the proof of stake chain will be aware of the block hashes over the proof to work chain and the users will be able to move ETH from the proof of work chain into the proof of stake chain.

 

Expected Phases of Ethereum 2.0

Phase 0: Beacon Chain Proof of Stake
Phase 1: Shards as data chains
Phase 2: Enabling state transitions
Phase 3: iterate, improve and adding technology

 

Expected Feature of Ethereum 2.0

– Pure proof of stake consensus
– Faster time to synchronous confirmation )only 8-16 seconds)
– Economic finality
– Fast Virtual Machine execution via EWASM
– 1000X higher scalability

 

Ethereum 2.0 Post Serenity Innovation

– Layer 2 execution engines
– Privacy
– Cross-shard transactions
– Semi-private chains
– Proof of stake improvements

 

However, Vitalik Buterin did not define the timeline as to when the Ethereum 2.0 will be released and the users will be able to see all these improvements.

One of the lead developers and researchers with the ethereum foundation Justin Drake said in an interview with CNBC that there have been mistakes by the ethereum community for overpromising which is mostly because of miscommunication and underestimating the complexity of things. In reality, the research on moving ethereum to a proof of stake consensus has been moving really fast in accordance to the blockchain space. He also told that the Ethereum 2.0 Phase 0 that is between the mainnet and the testnet will be released in 2019, the Phase 1 that is Sharding will be seen in 2020, the Phase 2 will be live in 2021.

Erik Voorhees, the CEO of Shapeshift wallet and exchange said in the Ethereum Devcon that he believes that Ethereum will be one of the main chains as it has the network effect and more developers than any other blockchain in the world. He also said that Vitalik does not personally control Ethereum and if Vitalik disappeared someday, the ethereum blockchain will still prevail forever despite that fact that the ETH market might crash for a month or so.

 

What is your take on Ethereum 2.0? Will it boost the price of ETH back to four figures? Tell us in the comments section below.

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Ethereum Updates: Proof of Stake, Zero Proof Prototype, JP Morgan and more

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The Ethereum Dev Con in Prague has just wrapped up in a flurry of news and announcements. Vitalik has made some tantalizing announcements about ethereum.

The Ethereum Devcon in Prague has just wrapped up in a flurry of news and announcements. Vitalik Buterin has made some tantalizing announcements about ethereum stating that Proof of Stake is not far away. The serenity updates will see Ethereum moving from a Proof of Work to a Proof of Stake system which will be exciting.

Estimates predict a possible 1000X increase in ethereum speed brings it up to 15000 transactions per second. The updates will also include improvements to the ethereum virtual machine, cross chain contract logic and much more.

 

Ernst & Young ETH Zero-Proof Prototype

Ernst & Young made an announcement on 30th October about the launch of EY Ops Chain Public Edition Prototype which is the first ZERO Knowledge Proof Technology on Ethereum Blockchain. According to sources, the prototype aims to improve the current barriers that prevail in the transactions.

– Company’s ability to conduct transactions on the Public Blockchain securely.
– Improving Blockchain Adoption
– Enabling a traceability trail of the private transactions.

The prototype is set to launch in 2019 and could prove to be highly significant for the upcoming security token industry.

 

JP Morgan ‘big believers’ in Ethereum

Jamie Dimon, the CEO and Chairman of JP Morgan who had earlier said that he did not give a s**t about Bitcoin has recently endorsed Ethereum of having the abilities to provide practical applications to the financial world.
The JP Morgan team is developing a product named as ‘Quorum’ which is defined as an enterprise-focused version of Ethereum. A significant use of the product will be the tokenization of gold bars.

 

Bancor: Ethereum and EOS Cross-Chain DEX

BancorX, a new platform by the Bancor decentralized exchange is now live and enables the conversion between ethereum and EOS based tokens on the blockchain. Currently, it allows the conversion of more than 110 tokens on both Ethereum and EOS blockchain. The BancorX project was established in collaboration with LiquidEOS, an EOS block producer. The project uses BNT tokens (Bancor Tokens) for the transactions. The BNT Token works on both EOS and Ethereum blockchain.

The working: When you convert an Ethereum token into an EOS token, it is first converted into BNT Token. After this, the BNT Token is transfered to the EOS blockchain and gets converted into an EOS Token.

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10 Reasons why Ethereum price is never going to rise again

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Ethereum itself is falling behind in what it can offer its users. Since it is an ‘abandoning ship’ it is unlikely that the prices will upward movement.

Predictions of the end of ETH are gaining momentum. Apparently, such forecasts are stoked by the founder of the Ethereum himself, via latest admissions that the platform needs deep changes and without these new adaptations (say Casper or Plasma) the end could not be very far.  

Ethereum’s utility thus far has been its smart contracts. At a time when Bitcoin was the only thing around, the ‘smart’ technology of the new network caught everyone’s fancy. However, today this very ‘technology’ has seen vast advancements, and Ethereum itself is falling behind in what it can offer its users. Since it is an ‘abandoning ship’ it is unlikely that the prices will see any sort of upward movement.

 

The tirade against things at Ethereum is:  

1. Much of the initial phase of growth was due to “occult marketing.”  

 

2. The approach of the original devs is abandoned and many “trusts at governance level of ETH.”

 

3. Non-ethereum changes are introduced under the brand ship of ‘centralized’ trademark Consensus Systems Corporation.

 

4. Ethereum Futures shall not be in the same category as Bitcoin Futures because of the lack of sustainability on the Ethereum network. New assets which are pegged to Ethereum will also not be able to perform. Thus Futures cannot be an alternative plan to nurture the platform and revive it.

 

5. ERC20 power cryptocurrency token is a big challenge as users need to pay ‘gas prices’ and not use part of the transaction itself to pay the ‘trading’ fees.

 

6. ETH failed to scale

 

7. Forgot to secure contract authoring

 

8. Failed to be competitive

 

9. Public blockchain platforms have taken over from stable crypto assets which want to remain private. Hence, Ethereum is limited in what it can offer in the near future.

 

10. Proof-of-Stake is a dicey methodology over Proof-of-work which is common in bitcoin

 

While the above are some of the reasons which are driving the final nails into ETH obvious demise, there are several macro-level questions to the evolution of this ‘smart contract’ platform.

 

The Future

ETH issues are complicated – from software support issues to market pricing and non-token contracts and Point of Sales Ethereum, it currently is able to hold its own among the competition.

It is the future of ETH and it prices which are the question.

ETH inefficiencies dominate and is preventing mass adoption, despite the popularity of ETH.

The biggest crippling impact on Ethereum thus far has been the high attrition rates of decentralized applications or dApps.

Nearly all of the evolving and performing applications are moving to the EOS platform. These include the Tixico, Was, Insights Network and Medipedia. The EOS platform it appears is offering them a solution to the bottlenecks they face on Ethereum. The key factors which had seen rapid growth were – the blockchain’s own transaction speeds, but its biggest obstacle has been its inability to have a plan for sustainable growth. Eos platform allows blocks to be developed under 0.5 seconds, and also supports expansion up to millions of transactions.

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