EOS Promises To Be More Than An Investment (EOS Analysis) How to buy EOS Coin?
What Does This Mean For The EOS Prize In 2021 - 2022?
As long as Bitcoin plays the leading role and moves upwards, there is little room for that to shine. However, it will increase its denominated value thanks to the surge in crypto prices. Nonetheless, the BTC ratio is likely to decline, possibly to an all-time low. That means it is good to keep your funds in Bitcoin until they hit their temporary high, which will open the doors to the altcoins. EOS will be among the top contenders to book big wins as the money usually flows from Bitcoin winnings to altcoins and big cap coins before trickling down to the lesser-known and smaller strategies.
EOS promises to be more than an investment with intrinsic value. The EOSIO is currently at dApps. The top dApps include 5 based on EOS. A large part of the gambling and gaming apps are still spread. Since the restrictions on gambling that apply in many places can be circumvented with decentralized apps, these are well known to users who are keen on gambling.
For EOS, gaming apps are both a blessing and a curse. Increasing user numbers and use cases are great for the platform, even if they are often rather mundane. Reputable companies could be deterred from using the EOS if their focus on gambling remains too strong. However, this is the prerequisite for EOS not to be seen as one of many other cryptocurrencies.
You have to be careful with forecasts, even more with price forecasts. Almost every day there are self-appointed experts who submit an EOS crypto forecast. If you compare the current EOS price with the everyday high, there is definitely a lot of catching up to do. The possible price is stated by some to be up to 10 dollars. Sometimes there is even talk of prices above the everyday high. If the two competitors Stellar and NEO manage to get more users, each of these forecasts will be overturned.
What Can EOS Offer To Its Users?
EOS is not only a cryptocurrency but also a network for blockchain-based apps. With this concept, one would like to challenge Ethereum and trump its platform. EOS, therefore, stands for a new beginning or the new and further development of Ethereum. With this idea one could already successfully assert oneself against other cryptocurrencies: The capitalization of EOS is currently around 6.50 billion dollars, which puts EOS among the top.
The Technology Of EOS
The EOS blockchain is based on the delegated proof of stake. Using this system, the validation of transactions and the blocks is achieved in the platform. The users of the platform choose so-called witnesses among themselves, whom they want to entrust the execution of these tasks. The number of voting rights of each individual voter depends on their respective stake. Entities with a high stake therefore also have a great influence on the platform. Ultimately, only those users will be chosen as witnesses who can unite the most votes. Following the election, you will receive the actual rights to validate and update the blockchain. The size of this top group is precisely defined in advance and is limited to a few members.
In addition to the witnesses, there are also the delegates, who take on an important function within the blockchain. According to the website, they oversee the verification. In addition, the delegates can express doubts about the clean work of the witnesses. They express their complaints through proposed changes, for example addressing the size of the blocks or the remuneration of the witnesses. However, these interventions can only take place if they have been accepted by the users through a choice.
The way the DPoS works results in very fast transactions. In addition, compared to the proof of work method, the system is very energy-efficient and friendly, since significantly less power is required. The electoral network of the DPoS, however, is a double-edged sword. On the one hand, it is intended to encourage the witnesses to do trustworthy and hardworking work. On the other hand, it can also influence very proportionate actors in their favor. In general, the thought behind is through a permanent election, bad witnesses are immediately recognized by the public and replaced by better candidates. So if you want to stay in your office, you have to continuously deliver a very satisfactory job. If, however, agreements are made between larger shareholders within the blockchain, they may control the appointment of witnesses so that the work can be lost and the users no longer become producers. This possibility of influencing the elections represents a noticeable security risk. In summary, it can be said that although DPoS is very fast, it is less secure and decentralized.
EOS Offers These Advantages
EOS has three main advantages. Above all, this includes being free of charge. Unlike Ethereum, there is no fee per transaction with EOS. In addition, serious errors, such as cyber-attacks, can be corrected by means of a consensus through rollback activities. Here, the information stocks from a previous point in time are simply restored and returned to an intact state. Last but not least, EOS has very high scalability. As already explained, due to the delegated proof of stake principle, a large number of transactions can be arranged per second. As a result, the blockchain is usually significantly faster than regular proof of work or proof of stake platforms. According to EOS, the innovation could ultimately enable millions of transactions per second. Currently, however, it is still very far from this value with an estimated 4,000 transactions per second.
What Makes EOS So Special?
EOS is conceptually based on Etheruem but has set itself the goal of developing a faster, more scalable blockchain that is easy to use. Existing blockchain networks are burdened by high fees and limited capacities, which prevent broad acceptance of the blockchain.
To achieve widespread adoption, apps on the blockchain would need a system that is flexible enough to meet the following requirements:
Support For Millions Of Users
easy upgrades and troubleshooting
To put it simply: EOS would like to enable completely free transactions, increase the transaction speed and offer better protection against cyber attacks and errors. EOS also does without miners: Instead, the cryptocurrency uses so-called block producers to manage transactions.
What Critics Say About EOS
EOS is not decentralized like Bitcoin but has a major authority that can exert influence. In the past, there have been repeated cases of EOS accounts that were suddenly frozen. EOS critics complain that it is incompatible with the crypto that can perform such actions. Blockchains and cryptocurrencies should actually free users from banks, companies, and governments.
How to buy EOS?
Author: Emre Ata Author LinkedIn