Cryptocurrency EOS will defeat Ethereum, Solid Reasons. Published 4 months ago on September 16, 2018 By Nadja Eriksson Share Tweet EOS EOS is a blockchain protocol by the cryptocurrency EOS. This protocol emulates most of the attributes of a real computer including hardware as well for processing, local/RAM memory, hard-disk storage) with the computing resources distributed equally among EOS cryptocurrency holders. It operates as a smart contract platform similar to Ethereum and decentralized operating system intended for the deployment of industrial-scale decentralized applications through a decentralized autonomous corporation model. Technical specialty The aim of this EOS platform is to provide decentralized application hosting, smart contract capabilities and decentralized storage of enterprise solutions that will resolve the scalability issues of blockchain like Bitcoin and Ethereum, are also eliminating all fees for users. EOS token provides users both bandwidth and storage on the blockchain, the proportion to the total stake [owning 1% of EOS tokens allows for use of up to 1% of the total available bandwidth]. EOS also allows the owner to cast votes and participate in the on-chain governance of the blockchain, again in proportion to the owner’s stake. EOS VS Ethereum The EOS community will be launching it when the clock hits 6 pm EST on Saturday, June 2nd. EOS is an intriguing point in time for the blockchain community, during which Ethereum will be faced with its first legitimate competitor in the space. After the announcement of launching EOS, the smart contract war has begun. This war is sounding similar in early days of the internet where Mac and Windows ultimately won- it was unlikely there will be a defined winner in the end, and it’s likely that there will be a few dominant platforms that offer fundamentally different themselves from one another. While comparing EOS vs Ethereum it is found that, Ethereum uses a proof of work called PW, consensus model and has first mover advantage in the smart contract and decentralized app(Dapp) platform space. This projected value the second highest valued blockchain project right now and it criticized for its high transaction costs. As the blockchain industry facing a huge problem because Ethereum has not yet allowed their developers to build consumer grade applications at that scale. The biggest actors in the public blockchain space right now are speculators, miners, and crooks which are zero or negative sum activities. Ethereum main use case is supposed to be supporting applications, but only less than 10% of the total transactions on the network are coming from the 100 applications built on Ethereum and the other 90% of transactions are coming from ICOs and payments. In comparison of EOS vs Ethereum you can see that, EOS is launching high profile dApps that are building on their platforms, like Everipedia. It is expected that mainnet will be able to handle between 1000-6,000 transactions per second shortly after launch, and the software has made economic performance tradeoffs that acknowledge the actual fact about every single transaction in a global scale dApp is being validated by a large network of computers at around the globe is unnecessary and this is unrealistic- for your average consumer cares to more about performance than they do sovereign censorship resistance. Block one, the company who launches EOS is not going to launch mainnet, but only the open source software system. There is a minimum adoption threshold to release this built-in software in the protocol level, and Dan Larimer, Block one’s CTO, has silently announced that they will use their voting shares (which is 10% of the total of EOS tokens) to ensure the launch goes as intended if needed. Though Ethereum has plans to innovate further to become more scalable, including plasma, sharding and switching to a proof of stake protocol, which is all intriguing options. If, however, Ethereum is unable to accomplish their goals, I can conclude on the basis of shared facts that EOS will become the dominant smart contract platform because of following reasons; scalability, Fee-less economic model, Team, User experience, Governance, Token Model, and storage. EOS = 600 transaction per second Ethereum = 15 transactions per second. Ethereum Dapps and EOS Dapps Ethereum Dapps Dapps mean decentralized application protocol which is run by many users on a decentralized network with trustless protocols. Ethereum DApps designed to avoid any failure. They typically have tokens to reward users for providing computing power. Ethereum is the king of smart contracts and Dapps. There are various Best DApps on Ethereum Ethlance- like Upwork, a marketplace for jobs. Cryptokitties – a new game app that gives its users access to digital cats which they can buy, sell or breed. Aragon uPort Gnosis Prism Radex IDEX Golem EOS DApps [Decentralized Applications] EOS is also have DApps which are given below AWOO AZARUS Billionaire Token Cards & Token Carmel Chaince Chintai DEOS Games Emanates and others. Recent Ethereum downfall According to a professor of stern school and well-known economist –Nouriel Roubini, the drastic decline in the price of Ethereum (ETH) is due to the fact that the blockchain project lacks active Dapps (Decentralized applications) Professor Roubini also mentions that Ethereum is collapsing because its 75% of decentralized applications are scammy Ponzi schemes, Cryptokitties, and Casino games. The rest 25% are decentralized exchanges that no one uses as 99 percent of transactions are carried out on centralized exchanges. So, by adding that 99% of digital currencies have lost 99% of their values. Related Topics:BlockchaincryptocurrencyEOSeos blockchaineos dappseos forecasteos futureeos vs ethereumEthereumEthereum BlockchainEthereum DappsETHEREUM FUTUREetheruem forecast Up Next John Mcafee: Trust only Decentralized Exchanges Don't Miss Bitcoin Bull Tim Draper says 1 BTC will be worth 2 Million or more Continue Reading You may like Bitcoin Still Stays Strong: Gamblers Prove Top 10 Friendly Countries for Blockchain Startups Stock Exchange of Thailand moving towards Cryptocurrency Bitcoin and Dark web: Transactions increasing, Values decreasing Trump Government Shutdown: Impact on Bitcoin ETF, Bakkt and Cryptos. France Yellow Vests Bank Run: Fractional Reserve Banking Fraud, Is Bitcoin The Real Solution? 5 Comments 5 Comments Pingback: EOS will defeat Ethereum, Solid Reasons. – The Coinage Times Pingback: EOS will defeat Ethereum, Solid Reasons. | Virtual Money News Pingback: Vitalik Buterin is quitting Ethereum: Get ready for an ETH crisis – Btc Bitcoin News Pingback: Vitalik Buterin is quitting Ethereum: Get ready for an ETH crisis - Coin Latest News Pingback: Vitalik Buterin is quitting Ethereum: Get ready for an ETH crisis – Crypto Prices News Leave a Reply Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website #Gambling Bitcoin Still Stays Strong: Gamblers Prove Published 2 hours ago on January 21, 2019 By Layla Harding Despite the cryptocurrency gambling is a relatively new sphere, it causes more and more interest among the cryptocurrency stakeholders. The latest research from cryptocurrency gambling platform 1xBit indicated that cryptocurrency gamblers are doing just fine in terms of the overall bearish cryptocurrency market. According to 1xBit, Bitcoin remains the most popular and widely used cryptocurrency among the gamblers and digital asset traders, despite the market falling. 1xBit is a well-known Bitcoin sportsbook and casino platform that allows users to withdraw, deposit and place bets on a wide range of sports. It doesn’t deal with fiat money, only with cryptocurrencies. Another Bitcoin Rivals The 1xBit’s latest updates were connected with adding XRP and TRX to the platform, which gained great popularity due to their low transaction fees and fast transaction speed, making them a perfect payment solution for crypto-gamblers. Ripple is a famous cryptocurrency platform, designed primarily for payment systems. XRP is using to deliver payments between countries, businesses, avoiding unnecessary financial, time and labor costs. But it is also a perfect payment method for gambling. The transaction confirmation time for XRP is around 4 seconds, that is particularly important for live betting, where nearly every second counts. Also, this cryptocurrency provides full anonymity – you don’t need to provide your personal data to top up your wallet. On 1xBit website players can register with no need to provide any personal information and all the payments are made in cryptocurrencies, that guarantees your anonymity. The second newly-added cryptocurrency became Tron (TRX) – one of the largest and most valuable tokens on the cryptocurrency market at the moment. Tron, which is an open-source global digital entertainment protocol, was originally created as a solution to a specific problem. But in a short period of time, it attracted the attention of investors. One of the recent examples is BitTorrent, a pioneer peer-to-peer technology for sharing files on the internet, which announced that it is creating its own cryptocurrency, based on the TRON protocol. Despite these recent innovations, Bitcoin still remains the most dominant cryptocurrency on 1xBit by the total number and volume of bets. Bitcoin Doing Well The statistics were collected by 1xBit from their user base to analyze the gambler’s behavior on the platform. It shows that during the recent Q4 crypto crash and market falling by over than $100 billion, gamblers continued to place bets normally as before, despite the collapsing value of all 21 cryptocurrencies available there. Moreover, in the last quarter of 2018 the number of bets placed on the 1xBit platform – in the US dollar equivalent – were almost the same. This data reveals that crypto users appear to be less concerned about high volatility and poor crypto asset performance, but much more concerned about how much of a return they could make in the equivalent fiat value. Based on this research it’s clear that the crypto-gambling sector will be strong despite the price action on the markets. Interestingly, more detailed studies indicate that 53% of the website clients preferable use Bitcoin for betting rather than in Ethereum (26%) or other cryptocurrencies. It means that Bitcoin still remains in great request. But what about other cryptocurrencies? They are used but much less in comparison with Bitcoin. For example, the volume of bets in Litecoin is only 8%, while bets in Altcoin amounts to 7% and in Dogecoin amounts to 6% of overall bets on 1xBit. Continue Reading #Exchange Stock Exchange of Thailand moving towards Cryptocurrency Published 1 day ago on January 19, 2019 By Layla Harding The Stock Exchange of Thailand or the SET is working out for applying for a digital license in order to run a cryptocurrency exchange. With continuous regulations, Thailand is set to become the cryptocurrency hub in Southeast Asia. Stock Exchange of Thailand: Interested in Crypto As more and more people are moving towards adoption of cryptocurrencies, institutional investors are getting attracted too. As such there not many specific institutional platforms for trading cryptocurrencies and thus the stock exchange of Thailand is planning to introduce one for the institutional investors. If the financial regulators in Thailand approve the licensing, it would be a great step ahead for the crypto industry. Pattera Dilokrungthirapop, who is a member of the board of directors of the Stock Exchange of Thailand, the exchange is getting ready to invade into the cryptocurrency market by presenting brokerage services for crypto trading. She also said they believe that cryptocurrencies will grow massively in the future as more and more investors gain an understanding about them. She added that securities firms are curiously waiting for the Stock Exchange of Thailand to apply for the digital license. Thailand: A cryptocurrency hub Thailand is steadily moving ahead in the crypto space with regulatory clarity unline other surrounding countries such as China and India who are moving away from crypto adoption. Thailand is all set to become a captivating place for cryptocurrency and blockchain businesses with the government of the country also promoting blockchain technology. Last year, Thailand also legalized some cryptos such as bitcoin, litecoin, ethereum and more while the securities and exchange commission of the country has also given clear regulations in relation to initial coin offerings. Around 2 weeks back, the Ministry of Thailand had also granted licensing to three new cryptocurrency exchanges to operate in the country, What are your thoughts on the future of cryptocurrencies in Thailand and how the Stock Exchange of Thailand moving towards cryptocurrencies will help the overall crypto industry? Tell us in the comments section below. Continue Reading #Bitcoin Trump Government Shutdown: Impact on Bitcoin ETF, Bakkt and Cryptos. Published 2 days ago on January 19, 2019 By Layla Harding The ongoing government shutdown is devastating for the crypto industry. Major functions of the government are simply not working right now. The SEC announced that it will be limiting its operations reducing its staff during the shutdown and restricting the functions to those that meet critical needs and unfortunately the Bitcoin ETF may not be a critical need to the SEC. The US CFTC is also doing limited staffing during the federal government shutdown. There is no time limit as to how long the government shutdown is going to go on but the longer it goes on, the longer will be the delays for these key items that the people have been waiting for. So the possibility of an extended government shutdown could definitely impact the cryptocurrency industry in the United States. Will the government shutdown impact BAKKT? Obviously, it impacts the launch of BAKKT, particularly their futures because the CFTC does not have the staff sitting around to regulate. In fact, BAKKT has announced that basically there is an indefinite delay at this point on the launch of their futures contract which is unfortunate but considering the dysfunction or the government shut down in America, it’s not really surprising. But in the background of all this, it’s not as though that the Intercontinental Exchange has just gone to sleep and forgotten about all of the things that they want to do. They have recently acquired an established futures broker hoping to strengthen their bitcoin offering. Impact on Bitcoin ETF This government shutdown could lead to one of the SEC’s longest shutdown in recent years. So maybe the Bitcoin ETF is going to remain at the table for a long time from now because we have to realize that when these organizations come back to work there is going to be a massive backlog which will depend upon how long the government shutdown goes on. The SEC and the CFTC both have issued orders freezing all pending administrative proceedings until further notice and this will not be changed until we see the federal government gets back to work. The fascinating thing here is that technically if the SEC fails to approve or disapprove the Bitcoin ETF by the deadline the ETF, in theory, shall be automatically approved but the reality is that probably won’t happen. The SEC will probably just put out a one page denial or a one page request for withdrawal or a one page delay notice or something like that so even though they are running with a low staff, they are probably just going to keep kicking the can down the road on all these things instead of just letting it happen but there is still a technical possibility of the Bitcoin ETF getting directly approved. Reg A+ Obviously, the Bitcoin ETF and the Bitcoin futures contracts by BAKKT gets a lot of attention but that’s not all that’s going on. There are about sixty different countries which have applied for Reg A+. Reg A+ is basically a mini IPO. SO this permits the eligible issues to offer securities to the general public and not just to accredited investors and some of these will definitely be cryptocurrency projects. But like everyone else, even these companies need to wait until the government shutdown is over. Is Bitcoin influenced by the government shutdown? Looking at Bitcoin, we can see that it is not super influenced by events like these. Although the Bitcoin ETF, Bitcoin Futures, BAKKT and all of these things get a lot of people excited but of course remember that we don’t need Wall Street. The SEC and CFTC are regulating for projects, especially for Wall Street. The IRS has had to send home 56% of its staff. This is an agency which is already dramatically underfunded and then to send home even more of their staff during tax season means that not a lot of audits are going to be happening and they are already struggling to adapt the new tax policies which were put in place recently. The State Level Innovation: While the Federal Government cannot regulate during the government shutdown, the State Governments are pushing ahead with very innovative legislation and playing with this technology and trying new things. For example, Vermont is putting insurance on the blockchain, Nevada has issued 1000 marriage certificates on the Ethereum blockchain, Wyoming is bringing land records to the blockchain, Bitpay is helping Ohio accept bitcoin for taxes, two Colorado senators have filled a bill to introduce a digital token act which would allow cryptocurrencies to bypass securities laws which if passed could turn Colorado to a leading legislation within the United States in terms of cryptocurrency regulations and lastly, New York has become the first state to create a cryptocurrency task force which will be studying the regulation use and definition of digital currency. Even though the Federal Government is having a dysfunction due to the government shutdown, there is still innovation happening. What are your thoughts on the government shutdown? Tell us in the comments section below. Credits to CryptoLark. You are doing a great job! 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