CRYPTO : EOS Block Chain
EOS Block Chain
The following is my invitation to take a closer look at EOS Block Chain. I’m not going to obviously, go into too much depth on this coin. I’m not a techy per se, I’m just giving you an example of what I’m basing my decisions on, as far as investments, but I invite you to do your research. Again, this is not investment advice. This article is just a recording of my journey in regards to one of the top coins in which I’m interested.
So, why is the EOS block chain so important? In a nutshell, the EOS platform allows smart contracts to run on it. It’s similar to Etherium and will have substantial advantages over Ethereum once it’s implemented. One of the primary benefits is its scalability. In simple terms, that means the number of transactions per second. EOS’ scalability will far outperform Ethereum in theory. Ethereum is presently running smart contracts and does have the present advantage in the sense that it’s the first mover.There are already apps operating on its platform and it’s a finished product in the sense that it’s already in operation whereas EOS isn’t. EOS will be in operation sometime this summer once the EOS token sale is complete.
In the meantime the EOS token can be bought as an ERC 20 token. The ERC 20 token is an offering that will allow you to claim your EOS coin come this summer. Again, scalability is one factor that stands out with EOS. The other standout feature is that there is no cost for EOS transactions. With these two advantages alone, EOS is healthy competitor, and that’s why the rumour has spread that it’s a possible Ethereum killer.
One of the things that you should make a note of when you’re investigating a cryptocurrency is the team developing the project. I’ve been studying the chief technology officer of EOS, and that is another reason why I’m planning on investing in the coin. Dan Larimer, CTO of block.one (developer of EOS), is well known in the crypto community for starting such coins as Steem and Bitshares. He’s considered an innovator and very competent coder but more importantly someone that not only demonstrated he could develop and continue to work on a project but also one that has staked his reputation on following through with EOS. EOS will deliver the operational platform again sometime in the middle of this summer of 2018.
To get a better idea of what the project is about you can look at the white paper .This again is located on the main page EOS.IO. The EOS token sale occurs directly off of the EOS website and is limited to a set daily amount. Also on the home page of EOS.IO are the registration instructions which give you an idea of how to register the coin and a detailed explanation on how to buy the coin on the website.
You must register, it’s mandatory if you’re going to collect the coin in June. So, I suggest you actually register as quickly as possible after you’ve purchased the token. You can do this by following the steps in the video link below. These inutructuctions are brought to you by the YouTube channel “The Awakenment”, an excellent source for EOS information.
The reasons I’m buying the token will continue to apply at the present price and beyond. If we take a look at coin market it’s price is pretty low with only a 4.3 billion dollar market cap. It’s got more upward potential than some of these other coins such as Etherium. That’s another reason why I’m diversifying into the EOS block chain. It’s not like I haven’t purchased the other coins it’s just that I’m not obviously placing all my eggs in one basket.
I’m going to make further videos in the future about blockchain technology in general just to give you an idea of what the underlying technology behind the cryptocurrencies is about and that we’ve been investing in. Of course it’s important to understand why there is a future for these cryptos and why it’s a disrupting technology that has a clear future ahead of it.