EOS - Very New And Already Seeing Gains

in #cryptocurrency7 years ago

EOS was recently released "crypto" system designed by a group seemingly from the US and Hong Kong. The system is meant to be an "Operating System For Decentralized Applications".

The system has been created to work very similarly to "Ethereum" - the famed "decentralized platform" for "smart contracts".

Whilst there are a number of systems which fall into this camp (most notably Ripple or Stellar), the key in the space is to have a system that builds underlying assets (such as business integration etc). The more adoption one of these systems has, the higher chance that it will be able to survive over a longer period.

As opposed to being like "Bitcoin" (which aims to create a decentralized "currency"), EOS is part of a group of systems built to provide "blockchain" functionality in the wider world.

Consequently, when considering the potency of the system, you need to appreciate how far it has gone in actually being able to implement its ideals - or what those in the industry call "adoption". The more a system is adopted, the more chance it has of not just surviving but thriving.

To quote its "white paper"... (https://github.com/EOSIO/Documentation/blob/master/TechnicalWhitePaper.md)
...introduces a new blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications.

This is achieved by creating an operating system-like construct upon which applications can be built. The software provides accounts, authentication, databases, asynchronous communication and the scheduling of applications across hundreds of CPU cores or clusters.

The resulting technology is a blockchain architecture that scales to millions of transactions per second, eliminates user fees, and allows for quick and easy deployment of decentralized applications.

Thus, when looking at a "crypto" system like EOS, you're basically looking at 3 metrics - transactions, trading volume and price velocity. These create a comparable set of data to determine whether the system has been adopted or not

Overview

The EOS system was created in 2016 and released in the early part of 2017, to provide businesses with a "decentralized application platform" which can "scale horizontally and vertically".

In simple English, this means that their system gives users the ability to manage applications and have them process on 100's, 1000's or even millions of servers (known as "nodes") all running the same blockchain software.

Like other "crypto" blockchain solutions, the service has been built to facilitate decentralized transactions, but to ensure you know the full breadth & scope of EOS' particular offering, there are several things you need to know:

⦁ It's Built Around Being A "Platform"...

Unlike "Bitcoin" (which wants to be its own system), EOS is similar to Ripple etc in that it's able to support other applications (DApps) which other developers can build.

⦁ It's NOT A Currency...

Unlike "Bitcoin" and other "cryptocurrencies", the most important thing to remember about this system is that it is NOT a currency.

⦁ Built On Top Of Ethereum

The major functionality of the system is based around Ethereum. This means that its future is really tied to this other system.

The most important thing to consider is that the coin is generally seen as a way to create better "blockchain" applications.

What Is EOS?

Market Cap: $4.5bn
Price: $8.52 at time of writing
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To understand how this works (or is at least meant to work), each "blockchain" system that's built (of which ALL the "crypto" currencies are very much a part), the various "coins" deployed by them are simply decryption tokens (files) which are used to de-scramble the data stored in each systems' blockchain database.

There are pretty much two types of "blockchain" system -

  1. Single application (such as Bitcoin). This basically allows users to utilize the application and then the blockchain network deals with all the data etc.

  2. Platform which supports other applications (decentralized apps / DApps) which allow developers to build new functionality and have it deployed on the "blockchain" network of the platform. Ethereum, Ripple and Stellar are good examples of platforms.

To understand EOS, you need to appreciate that it's very much in the platform version of a "blockchain" system. This means that rather than trying to get its currency worth a particular amount, or becoming a "brand" in itself, the system will basically facilitate other developers to build apps on top of it.

Should You Buy?

  • This is for educational entertainment purposes only not investment advice

The core of whether you should "buy" ANY of the new "crypto" tokens is basically - will they stand any chance of growth?

⦁ It is New (2017)
This is a VERY important consideration.

One of the reasons "Bitcoin" and "Ethereum" have been so popular is because they were essentially in at the beginning, and thus were able to ride the "crypto" wave.

EOS has already seen huge gains

What it has in store for the future is unknow

I'm going to say the buy on this is unknown

I myself got behind it because I do like the idea. However it is not my largest investment.

What do you guys think?

Anything you heard or know of that should cause this to shoot up in price?

What are your thoughts?

Sort:  

#Binance is one of the best cryptocurrency trading platform. It's where I got my EOS. Binance takes 0.1% , if you hold the #BNB tokens in your account and pay the fees with #BNB instead of #BTC you get a whopping 50% discount, making it 0.05% fees per transaction. Please use my reff link
https://www.binance.com/?ref=12059928

EOS has a good future in terms of mass adoption. And the price is rising steadily. $11, as I type this!!

@wameyo $13 NOW !!!!!!!!!!!! GUYS YOU NEED TO GET IN!!!

This is another break through in the field of crypto currencies. Goodluck and Enjoy earning. Thank you!

Thank you @ebanreb it is already up $5 from time of this post! Follow me for more!

thank you br, you are the best

thank you

Do you have more information on EOS that you can share? I'm searching for the next big thing and decentralized systems might be it, your article has my interest I'm going to follow you to learn more...thanks for the info you already provided

@kingbum thank you

EOS just hit $13 !!!! I'm absolutely releasing more information soon. Please follow me for more.

you are the best.
comment by @mamun-net

Thank you!!!

so long, can you make it more simply and funny?

Long.. lol I will be making more short update posts as I go but I really want to provide blog like content here. There really isn't enough of it. I want to build steemit up with really good content as well as it's social media short post.

Thank you for the feedback

Thanks @sportic for sharing this as well I wouldn't have seen it otherwise