In June 2018, the sale of the marathon of the EOS (EOS-USD) marathon ended. The platform managed to raise over $ 4 billion, making it the largest ICO in history. What has made EOS so popular is the fact that in many respects it is considered an improvement of the Ethereum platform. EOS promises to handle millions of transactions per second and also to subtract any transaction fees.
Excitement and clamor are real about this; with prices that exceed $ 20 per coin at the beginning of this year. He came back down to almost $ 5 now; although this is a 15% increase from its lowest point in August. Is it time to invest in EOS? Is it really better than Ethereum?
Despite the ICO mania, there is a reason why EOS has managed to raise over $ 4 billion in funding. Many believe that the scalability solutions offered will ensure that it will take a large part of the smart contract market from Ethereum. And the smart contracts have a big uproar around them.
The project has so far been approved by a number of key investors, with many of them heavily invested in the project. The list includes Peter Thiel from PayPal (just last month!), Jihan Wu from Bitmain, Mike Novogratz from Galaxy digital, Angermayer from Aperion Investment group, and hedge funds Alan Howard and Louis Bacon.
After investing in the project Jihan Wu said:
"The EOSIO protocol is a great example of blockchain innovation: its performance and scalability can meet the needs of demanding consumer applications and pave the way for adoption. of the mainstream blockchain ".
Part of what has attracted an impressive list of billionaires of the project is the number of different solutions offered by the platform, especially when compared with existing competitors.
- The ability to process thousands of transactions per second. Within the second week of the launch of the Mainnet, the platform was processing up to 1,200 transactions per second compared to 15 in which the Ethereum network was measured.
- Unlike Ethereum which can be developed using only one language, solidity, EOS can be developed using different languages.
- Eos removes all transaction costs.
- Using the Delegated Proof of Delegation, EOS can block accounts that suffer from hacks and this can prevent the network from reaching a full worried investors after what we have with DAO hacking on the Ethereum network.
So far, after just two months of launching the Mainnet, the token is sitting sixth in the crypto charts with a market capitalization of $ 4 billion and some say it is only a matter of time before competing with Ethereum to attract # 39; use.
Those who are of that opinion seem to be together, as we see from the news this week of a new EOS Alliance, a group of crypto investors wo
"The Top Blockchain Platform"
The Chinese government through the China Electronic Information Industry Development (CCID) recently released a second ranking of the best blockchain platforms in the world. The list saw EOS on top of Ethereum by a wide margin.
The list was based on three categories; technology, innovation and application with each category that gets points. EOS has managed to outperform other blockchain platforms in the technology and innovation categories with NEO by taking the applicability category. However, the overall EOS was victorious with 161.5 points, while Ethereum came second with 138.4 points.
The first ranking held by the organization saw Ethereum emerge, however, as we have seen, EOS offers a number of improved solutions and for this reason, it has already been seen to be far superior to Ethereum.
By the time we should expect to see the platform get mass adoption among users and this will definitely drive up the price. Some experts have predicted that the currency could reach $ 35 at the end of the year.
Price wise, EOS had its own separate trend line. The charges of price manipulation have been profound here; obviously compromising investor confidence in the purchase or trading of EOS. But that could be a blessing in disguise, as the price has been reduced to 25% of its all-time high and could be undervalued for a project that has already raised $ 4 billion.
The fundamentals show that EOS could be in lateral tendency for more time; although this chart justifies growth in the coming months
EOS LONG Chart, courtesy of tradingview .com user pdittyme
Our opinion is that if the market recovers, EOS simply has too many big names (and big pockets) attached to not making at least one race to a serious speculation on the contractual value. While Ethereum continues to attract more stakeholders, EOS will be right behind it; a note that should see the value and price go up both in the coming quarters.
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Disclosure: I / we have no positions in any of the titles mentioned, but we can start a long position in EOS-USD compared to the next 72 hours.
Communication of business relations: This article was written in collaboration with an analyst; nobody involved has any relationship with EOS.