EOS Review 2020 – Full Tutorial
EOS is one of the coins used frequently in reviewbrokers.online. EOS is more than just a cryptocurrency – it helps developers to create in the public domain decentralised blockchain applications. The scalability and support for thousands of commercial applications has led to a steady rise in the demand and price of EOS tokens.
This page will cover everything you need to know about EOS trading, including information about its blockchain technology, mining, wallets and more.
What is EOS?
The straightforward concept is that EOS is a decentralized, blockchain-based operating system which aims to support decentralized commercial applications. It looks like it provides key features, so companies can develop blockchain apps just as you can create web-based apps. The end aim is to be the most efficient Decentralized Application infrastructure.
In reality, EOS is Ethereum’s direct competitor, currently considered the best application-based protocol for decentralized application construction. EOS is expected, however, to become a faster and more effective version. That said, EOS ICO does support Ethereum.
Creator of the company is Dan Larimer who also produced Bitshares and Steem. Both crypto-currency sites continue to be active today. His proven track record helped to bolster the interest and price of EOS trading.
At the 2017 Consensus EOS was presented to the world with a strange introduction of the ICO. There was to be a year-long ICO and token dispensation period, rather than the average of two weeks.
EOS Key Facts
There are a few things you should learn before you start trading with the EOS cryptocurrency:
- The goal is to hand out up to a billion tokens.
- Inflation may be up to 5 per cent a year based on community votes.
- The ownership model means there is no expense and charge for transactions.
- EOS cryptocurrency promises a fast network capable of handling more than 50,000 transactions a second.
- The tokens can be staked to support the bandwidth, processing capacity, and storage resources of the blockchain.
- Crypto-currency coins are not to be mined. Instead, like Witnesses in Steem, there will be producers.
- EOS is not an officially defined acronym, in spite of various suggestions. Its importance in the world of trade still remains to be determined.
- Staggeringly, through horizontal scaling, EOS could process millions of transactions per second. These capacities are not even similar to Bitcoin and other centralized rivals.
- Within the first 5 days of the 341-day token sale, 20 percent of the EOS token supply was sold in Ethereum for around $185 million. Furthermore, its composition specifies that at market value 70 per cent of EOS currency will be sold.
The EOS trading platform and framework have three notable advantages, all of which are listed below.
1. Decentralised Operating System
It needs some expansion, but this has been commented on above. To build applications, developers need only to keep EOS tokens. Owning the coins allows you access to the server tools, which is how the EOS blockchain is used. Remember, however, that you don’t have to spend the coins on using the network, you only have to show that you are keeping them.
If you run an EOS networked Data Acquisition and Processing Program (DAPP), it can communicate with other Dapps. But the Dapps will be secured using a firewall. The interactions simply allow users to switch inside the network so that no authentication information on the blockchain would need to be entered. In addition, you might not even know that you are using a variety of Dapps as a result of the integrations.
2. Free Transaction Economy
If you take EOS vs Ethereum, one of the benefits is that you don’t pay the same fees. On Ethereum, when you are making a transaction, you must pay gas costs. The EOS network does not. It will encourage acceptance, and partly fuel current price predictions.
The rules and safeguards permit continuous operation, keeping dangerous apps at bay. Whilst also stopping network servers from turning against it at the same time.
In addition, a parallel processing system provides faster transaction speeds and greater scalability. That all helps to make EOS one of the fastest blockchains.
Understanding these technological advantages will help you understand better the rates, trends and volume on your intraday charts.
3. Minimal Inflation
Inflation typically comes with negative connotations, which contributes to a decrease in money value. Inflation, however, means commercializing development for EOS.
Inflation is independent and can only hit 5 per cent. This amount is low enough to cause economic growth as the environment continues to develop.
EOS trading and knowing when to buy and sell will be much simpler if you understand why these attributes would offer you an advantage over other cryptocurrency systems.
A few drawbacks have been illustrated and you should check them out before you find a cryptocurrency wallet and start trading on EOS – forums, blogs, critics and news have found some cons.
Many users challenge previous achievements of the author. As Tony Vays said, Dan Larimer has started many proof-of-stake projects and they’ve all been shady in nature, both Bitshares and Steemit have allowed insiders to create lots of tokens for themselves, and after that, the proof-of-stake nature of the project has enabled those insiders to print valuable tokens on a perpetual basis.
Trust is imperative. Negative news reports will bring down rates.
2. Limited Technical Insight
Furthermore, Tieron’s creator and CEO, Wayne Vaughn, noted the white paper doesn’t go into the details and no code is yet accessible. And no one can answer some specific technical questions. Having said that, he later admitted that EON team are people who have come together because they are trying to create something they think is revolutionary and they want people to develop new applications on top of it.
However, given the current lack of technical scope, the confusion can only help send charts to overdrive and drum up sophisticated trading plans to gain from EOS.
EOS Price Predictions
It is clearly difficult to make an EOS price forecast for 2020 but it seems that EOS trading is likely to increase in scale. Many people believe that there are exciting prospects for blockchain companies operating at Dapp to succeed. There’s nothing currently to say that EOS won’t be one such winner.
These predictions make it an enticing proposition for investors and day traders alike. Although prices may stop and crash, of course, the platform’s scalability and its current positive attributes continue to attract considerable attention. All of that pushes up costs.
Furthermore, the minimal need for IT infrastructure will help attract clients at the enterprise level. If the platform attracts such customers, there is a very good possibility that tokens value will be important.
What’s Next for EOS?
No matter the long-term outlook and odd year-long ICO, disinformation, FOMO and advertisement are all likely to be a trigger for intraday trade. There is also a high risk of overbidding on exchanges, which can lead to significant volatility in rates. That could all provide the incentives needed to turn a profit on intraday traders.