What is EOS crypto, is EOS cryptocurrency a good investment?

  • What is EOS crypto, is EOS cryptocurrency a good investment?

    The popularity of EOS has recently decreased somewhat, if last year EOS managed to rank seventh out of all cryptocurrencies, at this time EOS had to be eliminated from the top ten rankings on the Coinmarketcap rating site and was ranked fourteenth.

    With a market capitalization at a time press of $ 2,487,338,841, and at $ 2.66 today it is down -0.18%. Many crypto enthusiasts ask, is EOS still good for future investment? Is EOS able to replace Ethereum? What is the prediction of EOS in the future?

    These questions are certainly very interesting to be addressed so that investors can predict the prospects for this EOS token.

    EOS Crypto explained

    When EOS was launched they had the goal of being able to make millions of transactions in seconds. When the ICO was first announced to the public on June 26, 2017, to June 1, 2018, this was enough to make crypto fans excited.

    The fundraising process that took almost a year to allow the community to be involved in their big project.

    The result was that before the end of the ICO, they were able to raise $ 1 billion in funds, this is the most successful ICO compared to other Cryptocurrencies. One of the teams involved in the EOS project is Daniel Larimer, who is also the co-founder of BitShares and Steem.

    What EOS offers is to provide a decentralized blockchain that capable to process transactions quickly and for free. Meanwhile, developers can launch Dapps with smart contracts in their network.

    One of the advantages of EOS is that they can make millions of transactions in just a second, even though they both use smart contracts, but the speed is different from Ethereum which is claimed to be able to make 15 transactions per second.

    Another function that EOS will develop is to overcome difficulties in how to include basic functions such as account recovery and scheduling of jobs or tasks in one ecosystem.

    Who made EOS crypto?

    It has been mentioned above that one of the EOS development teams is Daniel Larimer he was the one who invented EOS and built it.

    Daniel Larimer at a glance he is the founder of Bitshares and Steem, he is a software programmer who discovered Bitshares, Steem, and is also the CTO of Block.one. Which Block. one is the developer of EOS.

    Besides, Daniel Larimer is also the inventor of the DPOS (Delegated Proof of Stake Algorithm) consensus algorithm and Graphene technology.

    How does EOS work?

    The way EOS works have the same function as Ethereum, therefore many compare it to Ethereum. Is EOS able to replace Ethereum because it both has the function of being able to host Dapp that supported by a smart contract?

    Some people say that EOS is the Ethereum killer because it can do the same thing but with better capabilities.

    The key difference lies in the network's ability to process transactions at one time, which is called scalability. The Ethereum platform is only capable of completing a transaction of 15 times a second, and this is considered too low for global use, whereas EOS offers a transaction speed of one million in one second.

    To achieve this goal, EOS does not use PoW or Proof of Work but uses Delegated-Proof-of-Stake (DPoS). This DPoS was created by Daniel Larimer who also invented EOS.

    The difference between PoW and PoS is that in PoW it requires a large computing network and greater power, whereas in PoS it is more efficient, where it uses internal stakeholders to validate transactions whereas in PoW it uses external miners who require greater power and are considered environmentally unfriendly.

    Delegated-Proof-of-Stake (DPoS)

    The DPoS-based blockchain uses a voting system where the stakeholder assigns his work to a third party.

    Simply put they can vote to elect multiple delegates who can secure the network on their behalf.

    These delegates can also be referred to as witnesses, and they are responsible for reaching consensus on the creation and validation of new blocks.

    The voting power is proportional to the number of coins the user is holding.

    The voting system varies from project to project, but in general, each delegate submits an individual proposal by requesting a vote. Usually, the wages collected by delegates are divided proportionally with the voters.

    In this DPoS algorithm, it will depend on the reputation of the delegation, if the selected node cannot do the job properly and efficiently, the node will be removed and quickly replaced with another one.

    How to buy EOS cryptocurrency

    The first thing you have to prepare before buying EOS is to have an EOS wallet.

    By having this wallet you can store EOS tokens more safely than storing them in exchangers that are vulnerable to attacks. 

    Some options that can be considered for creating an EOS wallet are SimpleEOS, Lumi Wallet, exodus, and Freewallet.

    Please note that the EOS wallet works unlike most wallets, it has two keys, first An owner key and second an active key. Owner key functions to control the active key to be able to stake and unstacking when transferring.

    Maybe created the EOS wallet is a bit confusing for you, so you need to read the FAQ for more complete information.

    If you already have a wallet then to buy EOS is to find an exchange that supports EOS tokens on the platform. There are many exchangers you can find, but if for example you already have an account with a well-known exchange like Kraken, Coinbase, and Binance, you can buy EOS through their platforms.

    To eligible buy EOS of course requires the required amount of funds, you have to deposit it into the account you registered with the exchanger.

    But beforehand make sure that you have met the rules, where most exchanges require customers to verify KYC. If you’re not fully verified might will get some trouble with their service.

    After you buy EOS the next step is to withdraw the tokens into your wallet, or if you want to try to speculate you can choose Etoro which allows traders to bet with EOS.

    Will EOS replace Ethereum?

    The statement that EOS is better than Ethereum is still being debated at this time, although in theory EOS provides several advantages until now Ethereum's position is still stronger than EOS.

    Ethereum's scalability development is still working to make it more competitive with EOS and others.

    Until now, Ethereum is still in second place, while EOS is in the fourteenth. This is so far adrift that it's quite difficult for EOS to catch up.

    That means Ethereum is still the top choice for most large investors to invest in blockchain projects.

    Despite this, Ethereum still is struggles so that it can achieve the speed and scalability needed to run major applications.

    The advantage of EOS over Ethereum is that it can process hundreds of transactions that are bigger and faster than Ethereum.

    Although this is a pretty good debate for EOs, it is still difficult to determine which is the best of the two. Because Ethereum still dominates customers to develop Dapp in its network.

    Is EOS crypto a good investment?

    At the start of the ICO launch, this EOS received a tremendous welcome from crypto enthusiasts, they were able to raise large funds, so that this token was then able to enter the top ten Crypto.

    However, what is happening now is very different and EOS seems unable to compete with the emergence of a new token that can shift its position.

    There may be some who are still optimistic about the future of EOS, but some opinions via quora state that this is a bad asset for the future.

    One reason that differs from other opinions is that the Block. one company is like Youtube or Facebook, which get money from advertising, so this also depends on how big the user is.

    The more users work together, the higher the probability of the token value.

    However, the future development cannot be known with certainty, although currently, EOS has shifted to the fourteenth position, tomorrow it could rise to the tenth rank.

    The market is always changing, and changes sometimes happen very quickly. Even though at the moment the EOS/USD is receiving such modest volumes that it is unable to climb to the top. However, investor optimism may increase the value of EOS and make the token shine again and provide brighter hopes.

    EOS crypto price prediction

    It's time to enter into a discussion about future EOS predictions, whether this is predicted well by most forecasting sites or vice versa.

    At the moment, the price for the EOS is $ 2.64, with a market capitalization of $2,473,251,130 and a circulating supply of 936,859,126 EOS.

    The price of EOS reached its peak in April 2018 which reached $ 15. However, the price is gradually falling and currently includes a decline at the lowest price.

    From several forecasting sites I have tried to summarize the predictions for EOS cryptocurrency as follows:

    Wallet Investor EOS price prediction

    Based on the investor's wallet system forecast, it is predicted that the price of this EOS will fall in the next year to $ 0.50029. The conclusion from this prediction is that EOS is a bad asset for the future.

    Short term price prediction

    On the short-term trade that $ 2.75 is the highest prediction price and $ 2.50 is the lowest price prediction in the near term.


    Source wallet investor.

    Long term prediction

    On a long-term prediction, it is estimated that prices will hit an all-time low expected in early 2022. Although it is estimated that the price had risen for a while it did not exceed $ 8.

    Source Wallet investor.

    Tradingbeast EOS price prediction

    Tradingbeast predicts that by the end of 2020 the price of EOS will fall to $ 2,39057, but the price will fluctuate again which then increases in December 2021 to $ 3.2228, then it is predicted that in 2022 it will return to $ 3,94742, while the prediction of 2023 December EOS is predicted to rise again at $ 4,84325.

    Overall Tradingbeast forecasts for EOS with a tendency on the bullish long term, they think this is a good asset in the future.

    Gov Capital EOS price prediction

    Gov Capital predicts the future price of EOS with a bad asset predicate, they expect the price of EOS to fall to $ 1,375 or -48,124% at  2021 October 13.

    Gov Capital short term prediction

    Short-term price prediction highs at $ 2.70 and lows at $ 2.50, fluctuations form a swing up and a swing down as forecast waves

    Source Gov capital.

    Gov capital long term prediction

    The long term prediction is that the highest price is expected to reach $ 7 in May 2021, and reach a low of $ 1.3 in September 2021, but will rise again to a price of $ 3,968.


    Source Gov capital.

    EOS short term price analysis 13 October 2020

    Not much change today, the price only turned -0.26% and the candlestick pattern formed a small body which is a sign that the pressure of buyers and sellers is not too big. Prices tend to be flat and draw a Doji candle.

    The price of $ 2,732 is expected to become resistance one, a break of this level will allow the price to continue to rise and form a bullish. Next $ 2,442 is the lowest price based on the Bollinger bands.

    Chart by Tradingview.

    From the picture above we can see that the price is still moving between the upper and lower bands, there is no big change, in this kind of condition the short term trading is not good and the risk is more than 80% when forcing yourself to enter the market.

    Meanwhile, MACDindicatesn that the price is currently in a bullish trend.

    However, RSI signals indicate that the trend is not yet valid, whether bullish or bearish.

    The current RSI value is 49.3, although the meaning is a bearish signal but pay attention to the candlestick patterns as well as the BB which gives different signals

    Conclusion

    EOS was initially very attractive to crypto investors, but it still seems that it has not been able to maximize its success.

    The development team still has to fight extra hard to be back in the top ten rankings of all cryptocurrencies owned.