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EOS: Latest Updates and Controversies

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The daily activity on the EOS blockchain is way ahead than the other blockchains but EOS is currently really experimental in terms of their governance.

China’s center for information and industry development has ranked EOS as the number one blockchain platform. The daily activity on the EOS blockchain is way ahead than the other blockchains at the moment and we are seeing a lot of users coming in to use EOS based Dapps.

 

EOS Dapp Development

Everipedia is currently working on improving user experience and expanding their blockchain ecosystem working on a new user interface, more languages to be added to the platform and new Dapps under development for Everipedia.

There are currently a lot of Dapps being developed on the EOS platform right now and a lot of them are gambling Dapps such as EOSdice, EOSpoker, and EOSbet.

 

Sense Messaging Service:

Sense is basically a decentralized messaging service which is being developed by Crystal Rose who is Brock Pierce’s wife and thus it is surely going to get a lot of backing from not only big money but also block.one and the whole EOS ecosystem. So, this could really be a game changer in terms of finally finding a Dapp that gets a lot of users. Imagine Whatsapp on the blockchain, and that’s what Sense might be but we actually have to wait and see for it to get launched and get some users to know how its actually going to interact in the real world.

We have Bancor which has been big behind EOS who have BancorX which is a decentralized EOS token exchange, Bitshares on EOS, Steemit 2.0 on EOS, A team which formally worked on Activision and working on developing games on EOS, Decentralized Uber which is called EVA, Karma which is charity app. So basically there is a Dapp explosion happening right now over EOS. So, that means that users are going to come into EOS.

We just had the end of the EOS global hackathon as well, so we could be expecting more Dapps coming in the very near future. Huobi, who is one of the biggest block producers in EOS is expanding their range of options in terms of what is available on exchange offerings and are also going to be opening an EOS based cryptocurrency exchange in Q1 2019 which will give a whole new level of liquidity for EOS and EOS based tokens.

 

Controversies surrounding EOS:

There always seems to be something happening over at EOS and it’s always important to have these open and honest conversations about what is happening on a given blockchain and running away from these things doesn’t make anything better. EOS is currently really experimental in terms of their governance and working out their reward systems, etc.

1. Users have been reporting that they are running out of CP use. If you are a very high-frequency user, you might run into problems in terms of being able to interact with the different apps running on the EOS because you run out of CPU. Although not a lot of users have been reporting this there have been reports of it happening so that is something definitely that EOS has to move beyond and in order to welcome in a lot of mainstream users.

2. An EOS block producer called StartEOS announced that they would be incentivizing voters to vote for them by rewarding them with EOS. Now the only problem with votes is that it goes against the EOS constitution. So obviously there are not able to do that. Even though StartEOS then had to backtrack on their statements, these kinds of deals are going to be happening.

3. EOS block producers are running at a loss based on the current market price. The break-even point for an EOS block producer is above $4 and we are not there right now and that creates a lot of problems for the block producers because you can only run a loss for so many months and if we are in a very long bear trend if might not be sustainable and the smaller block producers might be in a big trouble.

4. Telos Foundation: Telos is a new blockchain based on the EOS code so the community is splitting up already. A small portion of the community went off and created Telos using the EOS code as they wanted to have more accountability for the block producers, increased fairness, capping of whale accounts and fixing the RAM issues amongst other things.

 

What do you fell about the future of EOS blockchain? Tell us in the comments section below.

#Explained

Brief: What is EOS?

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EOS operates on a completely different set of rules than other blockchain projects because it uses a system known as a delegation test.

EOS operates on a completely different set of rules than other blockchain projects because it uses a system known as a delegation test. While competitors such as Ethereum can be regarded as a global computer, EOS is more like a global operating system. As such, EOS has been designed not to require any form of cryptocurrencies to participate or interact with the EOS blockchain. If EOS is able to divert all such problems from their original location, they could give them the advantage they need to find their place in the blockchain.

How is EOS different?

Hackers show how powerful computers can cheat Bitcoin and blockchain, giving users full control of their money.
So when someone owns Bitcoin, what they really have is the private key to unlock a specific address on the blockchain. As the largest digital currency, bitcoin encapsulates all major cryptocurrency and blockchains – such as decentralization and transparency and, of course, distribution – is the embodiment of a functional symbolic economy.

Many feared that Bitcoin could go if miners, a large part of any cryptocurrency that could work, decided to give up Bitcoin because of the increasing difficulties and losses in profitability.
Large coins such as Bitcoin are not afraid of an attack of 51 %, because every attacker with the vast majority of hashish would have been more motivated to simply mine all the blocks and get Bitcoin instead of attacking, especially given the price of their theft.

Although Ethereum wanted to address the scalability issue in Bitcoin, the number of transactions it supports per second remains very low compared to the current demand for IOT power for a smart economy.
From improving fungibility to reducing transaction costs to zero, EOS promises to help users achieve the goals they have always wanted. Whether you’re new to cryptocurrency, have been in the niche for some time, the guide opens the eyes to get EOS, start trading in markets and learn more about it. Many people who join the EOS network are interested in exchanging coins for other cryptocurrencies or even fiat coins. The proof of the stakes will make the whole mining process virtual and replace miners with validators.

First, anyone who owns cryptocurrency on a blockchain integrated into EOS software can select block manufacturers through a continuous voting system. EOS operates on a proprietary model in which users own and are entitled to capitalize on their share, rather than having to pay for each transaction.

 

How to buy EOS?

Binance which is the largest cryptocurrency exchange is limited to cryptocurrency, so we cannot buy EOS directly with US dollars or euros. It is advisable to own other cryptocurrencies such as Bitcoin or Ethereum before you use the exchange, but it is possible to convert your dollars or euros into EOS.

 

EOS is a very ambitious project, which can completely change the way cryptocurrency is viewed.

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#Explained

Explained: What is EOS, How to invest in EOS?

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Investing in EOS is quite risky but might be profitable in the long term. Investors are advised to spend only a tiny portion of their digital portfolio.

Eos uses a consensus mechanism ( DPoS ) to delegate the test of the parties, which enables EOS coin owners to select the producers of the blocks through a continuous voting system. Many new projects are launching their cryptocurrencies on the EOS blockchain and are also carrying out airdrops of their chips to the EOS holder.

 

How is EOS different?

One of the main points of EOS is the delegation of the security and governance model. With well – known blockchains such as Ethereum and Bitcoin, data mining evidence is how transactions are verified, the network is secured, and new coins are added to the circumference. A representative of the EOS Delegated will give 20 “Witnesses” the power to confirm the transaction and receive new EOS coins. EOS blockchain system enables the development of decentralized commercial applications or dapps on the EOS platform.

Eos is a relatively new entrant in the cryptocurrency market, but the new boy on the block could be ready to make waves and change the world of cryptocurrency as we know it. Eos is the cryptocurrency of the internet protocol, an enterprise established by Blockchain. Unlike other cryptocurrency networks, which enable users to take a stake in mining, EOS has released all their coins in a year-long ICO, with a total distribution of approximately 1 billion coins.

 

EOS Blockchain

Anyone who wants to develop decentralized applications using the EOS blockchain must have some EOS to manage network requirements. Block manufacturers must publish the capacity of the three blocks, first purchasing server time with EOS chips. Unlike other blockchain projects, which charge transaction fees for people, EOS allows access to its blockchain resources based on their EOS shareholdings.

Block manufacturers have the right to determine which transactions are confirmed in the blockchain, in addition to the possibility of making changes to the EOS or source code. While Ethereum and EOS are very popular because of their efforts to take advantage of the capabilities of blockchain technology, they are also very different. Eos, on its part, relies on delegated stake proofs that eliminate a large part of the challenges facing the Ethereum network.

 

How to invest in EOS

Eos can be traded on a large number of cryptocurrencies, so compare the features of many EOS listed platforms before choosing the right one for your needs.

Eos can be traded against a number of fiat and cryptocurrency, so take some time to find an exchange that offers your currency pair. As the EOS major net is still in its early days, there are currently only a limited number of EOS coin portfolios.

To purchase assets such as EOS, you are recommended to first buy Ethereum or Bitcoin and then enter it into an exchange where you can exchange bitcoin or ethereum for emerging currencies such as EOS. There are also several exchanges allow you to purchase EOS chips directly with fiat currency ( i. e. Dollars, Euros, etc. ).

 

Should you invest in EOS?

Ian Grigg, a Block One partner, writes: “direct users of a Blockchain, such as EOS, are entrepreneurs and developers who write contracts to implement distributed applications or DApps. If you believe that EOS can be one of the leading platforms for corporate and small businesses in the blockchain, the value of EOS might dramatically increase.

As a result, investing in EOS is quite risky but might be profitable in the long term, and investors are advised to spend only a small portion of their total digital portfolio in altcoins such as EOS.

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Cryptocurrency

Ethereum, EOS, TRON: A detailed comparison

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Let us have a detailed comparison among Ethereum, EOS, and TRON, three of the most popular cryptocurrencies on the basis of different factors.

The competitions in crypto space have become very rigorous. With time, thousands of crypto coins have emerged and are improving themselves every day in order to beat other competitors. Since a lot of cryptocurrencies are there, it becomes very difficult for a new investor to decide that in which cryptocurrency he/she should invest. Since a wrong decision can lead to losing all your invested money, a well-researched decision needs to be made.

In this article, we are going to have a detailed comparison between three of the most popular coins in the crypto space. The coins to be compared in this article are Ethereum, EOS, and TRON. So, let us have a detailed comparison among these three cryptocurrencies on the basis of different factors:

 

1. History of Ethereum, EOS, and TRON:

Ethereum was firstly proposed by a programmer Vitalik Buterin at the end of 2013, but it marked its existence in the crypto space on July 30, 2015, with a huge contribution of around 3/4th of total supply in 2018. On the other hand, EOS’s foundation was proposed in 2017 and its existence in the market was released on June 1, 2018, as an open source software. Meanwhile, the foundation of TRON was laid in the month of September 2017 by Justin Sun. One year later, in June 2018, TRON released in mainnet.

So, if these three are compared on the basis of history, Ethereum is the oldest one to come in the market whereas both EOS and TRON came at the same time in the market.

 

2. Current Position and price in the market:

If we talk about Ethereum, it is second largest cap holder in the crypto space, only topped by bitcoin. The current value of one Ethereum equals to $117. The market cap of Ethereum is $12,250M and occupy around 10.57% of total crypto space. Talking about, EOS being new in the market, still, have occupied an important position in the market. The current value of one EOS values $2.65. It occupies around 1.91% of total cryptocurrencies and the market cap of EOS is $2.216M. While TRON is far behind the rest of two. Its value is $0.03 and has a market cap of $1,917M. It occupies a total share of around 1.66% of total crypto space.

So, if compared, Ethereum has the best performance as compared to two others.

 

3. Consensus Mechanism:

The Ethereum cryptocurrency focusses on decentralized applications. Or in simple words, it is more decentralized than rest of two. It aims for the democratization of the smart contract applications.

Talking about EOS, it looks in the area of an easy and efficient way to trade an asset. The algorithm focusses around the delegates (usually 21 in number). These delegates take part in the confirmation of the blocks. While the third one TRON, the consensus mechanism works in a way where 21 supernodes are responsible for managing the entire corporation. The supernodes are elected by the TRX token holders. In short words, TRON aims for a blockchain embedded web interface in the future.

 

4. Programming Languages used:

All the three mentioned coins use different programming languages for the perspective of development. For EOS, the developer needs to have adequate knowledge of C++ if they want to develop the smart application using this platform in crypto space. Nextly, if you want to develop your application using the crypto platform of TRON, you must have the knowledge of one of the famous programming language ‘Java’.

Ethereum, in contrast to the others too, doesn’t use a popular programming language. So, if you want to embed Ethereum in your smart application, you will have to learn a new language ‘Solidity’ prior to use this blockchain technology.

So, all the three platforms use different languages, where the newer ones use the popular programming language and the older one use a new language.

 

5. Competition with each other:

Ethereum has been dominating the market for a very long time. But now, after the evolution of new platforms like EOS and Tron, it is facing a very large competition. All the three have their own merits as well as drawbacks. Talking about Ethereum, if it has maintained its position for such a long time in crypto space, surely it is capable of it. \EOS, on the other hand, is giving a tough competition to Ethereum. It aims to work in the same space as the Ethereum. It is relatively similar to Ethereum. EOS is cheaper and faster and does provide every facility that ethereum provides, but the difference is the better quality of EOS.

TRON has its own market, unlike EOS. It has focussed on the development of decentralized web interface in the crypto space. The ambitions of TRON are too beneficial for crypto space.

Although it is notable that both, EOS and TRON, started off in the market as Ethereum’s ERC-20 tokens but have changed significantly now!

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