When talking about cryptocurrencies, we cannot help but mention EOS as it is one of the most popular coins that is used by traders. EOS is regarded as not only a cryptocurrency due to the fact that it makes it possible for developers to be able to build blockchain applications in the market that are decentralized. The price and value of EOS tokens have been increasing systematically because of their support for a high number of commercial applications and also because of its scalability.
At the Consensus 2017, EOS was first presented with an unusual ICO launch. It was said that the ICO and token dispensation period would last for a year, contrary to the usual average time of two weeks.
If we want to make a clear definition of what EOS is, then we can say that it is a decentralised operating system, which is based on blockchain technology, with its main target being the support of commercial dEcentralized applications. Businesses are now able to build blockchain applications in the same way that web-based applications are made, as it seems to offer core functionality. The main goal of this cryptocurrency ultimately is to be the most powerful platform for use with decentralized applications.
Ethereum at this time is widely considered as the go-to application-based protocol for traders and businesses who are looking to build decentralised applications, so in this regard, EOS competes directly with Ethereum. Nevertheless, EOS strives to be the better, faster and more efficient option overall. With this fact in mind, Ethereum is supported by the EOS ICO.
Dan Larimer, who is widely known as the creator of Steem and Bitshares platforms, founded the company. To this day, both these cryptocurrencies are continuing to operate. His proven record of accomplishment has helped EOS trading value and price boosts radically.
What Are EOS’s Main Advantages?
When referring to its advantages there are three notable ones that make this trading platform and system a strong competitor, we have tried to detail them below:
- Decentralised Operating System
- Minimal Inflation
- Free Transaction Economy
Let’s break down these steps one by one below:
- Decentralised Operating System
You may have heard about this benefit, and it definitely deserves some more elaboration. In order to build decentralized applications, developers just need to hold EOS tokens. By owning the coins, you directly have access to server resources, and in this way, you are able to use the EOS blockchain. An additional benefit to keeping in mind is that if you want to use the infrastructure, you don’t need to spend your coins as long as you are able to prove you hold them.
Something else worth noting is its ability to interact with other Dapps if you run a DAPP (Data Acquisition and Processing Program) on the EOS network. But, keep in mind that in order to protect the Dapps a firewall will have to be used. The users are able to move around within the network because of these interactions, so this means that login details on the blockchain will not be needed. As a matter of fact, because of the integrations, it is very possible for you to not even realize that a number of Dapps are being used.
- Minimal Inflation
The majority of the time inflation is tagged with a seriously negative meaning, leading to the value of money being decreased. However, when talking about EOS, then inflation means new opportunities for trading growth.
Inflation is only able to reach 5% as it is self-sufficient. This is a very small level, which as the development of the ecosystem continues, can ultimately trigger economic growth.
If you are able to understand the reason why these attributes maybe prove an advantage over other cryptocurrency platforms, then day trading with EOS and knowing the best time to buy and sell this crypto will be much easier for you.
- Free Transaction Economy
When talking about one of the biggest advantages then the fact that when you take EOS vs Ethereum as an example, they don’t have the same transaction fees. You must pay transaction fee costs when you process a transaction with the Ethereum platform, while with the EOS this is not the case at all. This feature is guaranteed to make it easier for this crypto to be adopted much easier and faster and also this is in part fueling the current predictions on price.
Another trait that is not often talked about is the fact that harmful software cannot be of use to make malicious attempts in this case, because of the precautions and rules, which make it possible for its functionality to go on uninterrupted. In addition to this, it also helps to prevent network servers from turning against it.
As an added benefit, faster transaction speeds and greater scalability are made possible from the parallel processing mechanism. These functions undoubtedly result in EOS being regarded as one of the fastest blockchains.
Having knowledge of these technical advantages makes it possible for you to be able to better understand your intraday charts when it comes to prices, patterns, volume and so on.
Should I Buy or Trade EOS?
Knowing which cryptocurrencies are worth investing in and which ones are better ignored is a bit of a problem in itself because of all the options and possibilities on the market at the moment. So with all these options and different cryptos just around the corner, is it worth investing in EOS?.
Till now EOS seems to be totally legit and we’re talking about both EOS.IO and its token the EOS. Upon its initial release (ICO) it quickly got a lot of attention, and developing the platform further and also adding to its innovativeness is a thing which the company is always taking great care of.
Additionally, the company looks like it’s all set when it comes to what they want to achieve with their product and they seem to work hard towards the ambitious goals they have set for themselves.
People are interested in this cryptocurrency because the idea of a faster blockchain with high performance and better scalability attracts them.
You might be interested in buying EOS if…
- You want a cryptocurrency with low transaction fees
- You want to be able to pay in fiat currencies
- You want to hold the coin and sell it later during price spikes.
You might be interested in trading EOS if…
- You want to sell EOS (go short) and potentially profit even when the market price drops
- If not taking ownership of the underlying coin doesn’t bother you
- Want to speculate on its price movements
Takeaways
- EOS is one of the most popular coins that is used by traders.
- EOS is regarded as not only a cryptocurrency due to the fact that it makes it possible for developers to be able to build blockchain applications in the market that are decentralized.
- The price and value of EOS tokens have been increasing systematically because of their support for a high number of commercial applications and also because of their scalability.
- At the Consensus 2017, EOS was first presented with an unusual ICO launch.
- EOS is a decentralised operating system, which is based on blockchain technology, with its main target being the support of commercial decentralized applications.
- Dan Larimer, who is widely known as the creator of Steem and Bitshares platforms, founded the company.
- In order to build decentralized applications, developers just need to hold EOS tokens.
- Something else worth noting is its ability to interact with other Dapps if you run a DAPP (Data Acquisition and Processing Program) on the EOS network.
- When talking about EOS, then inflation means new opportunities for trading growth.
- Inflation is only able to reach 5% as it is self-sufficient. This is a very small level, which as the development of the ecosystem continues, can ultimately trigger economic growth.