Ethereum (ETH) vs EOS (EOS) – Which One Will Win In The End?

The platform of EOS intends to involve both vertical and horizontal scaling with a view of increasing the speed to millions of transactions every second. This way it will be possible to offer enterprise solutions at the industrial level while also not leaving out everyday users. If this goes according to plan, the current transactions speed of Ethereum would be surpassed significantly thereby established EOS as a blockchain development authority.

Increased flexibility

Besides improved scalability, EOS was designed with flexibility in mind. This is in view of the fact that complaints have been made concerning the fact that on Ethereum when one application stops working on the blockchain network, the performance of other applications is also affected. EOS aims to solve this issue by suspending the problematic app until the code has been updated by block producers. With EOS the various parts of an application can be disabled as well as enabled all at once. As an example, if an application provides both social media and shopping modules it will be possible to specify that only one particular part of an app will receive and send data. This improves redundancy.

Another big difference between Ethereum and EOS is the fact that EOS is yet to be deployed fully and is largely theoretical at this point. As such the support and strength that EOS is perceived to possess is based on its potential to a big extent rather than what it has already achieved. Ethereum, on the other hand, is a tried and tested platform which already has a history. The developers behind Ethereum also recognize the weaknesses, flaws, and issues that bedevil the platform and are continuously working on improvements without sacrificing the founding principles of inclusion and decentralization.


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Reputation of leaders

With regards to the people behind the two blockchain platforms, Ethereum has a better reputation compared to EOS. Part of the reason for this is that Brock Pierce, the former chief strategy officer of the firm behind EOS, Block.one, has been tied to scandals ranging from sexual assault to failed ventures. Since this came to light Block.

Another difference between Ethereum and EOS is in regards to network governance and consensus. While EOS uses a proof-of-stake mechanism which is delegated Ethereum employs the proof-of-work algorithm. With the PoW mechanism fixing applications which have stopped working is difficult and this has been exemplified by decentralized autonomous organizations on the Ethereum network suffering fatal failures. This poses a risk for investors as they stand to lose their investments. Additionally, it could result in a hard fork leading to a competing blockchain. This is what led to the Ethereum split resulting in Ethereum Classic (ETC).

ImToken, Ethereum Wallet Is Shifting Its Headquarters To Singapore In Preparation For Global Expansion

The Chinese startup created one of the first digital currency wallet apps for the Ethereum (ETH)blockchain. The firm has been planning on scaling up this year to achieve a global market although 70 percent of its clientele comes from China. The ImToken app currently has around 4 million users but the firm hopes to reach the 10 million mark before the end of 2018. Half of that figure is expected to come from outside its home country.

Singapore’s critical role in the cryptocurrency market

imToken CEO Ben He stated that having the new headquarters in Singapore will allow the company to reach out and expand its services to more countries. He also revealed that they chose Singapore because the country has been welcoming to Bitcoin. The country has become a safe haven for Chinese startups in the blockchain and cryptocurrency industry especially after Beijing turned aggressive after ICOs and cryptocurrencies in 2017.

Cryptocurrency mining giantBitmainalso launched its regional headquarters in Singapore a few months ago while the Huobi cryptocurrency exchange also has its operations in Singapore. ImToken has always been eager to be on top of trends and it claims that this characteristic has allowed it to gain cryptocurrency assets worth more than $35 billion over the past 12 months. This means it is now roughly the same size as a medium-sized Chinese commercial bank.

The IDG Capital funding

ImToken has revealed its plans for Singapore just days after it announced that it managed to raise roughly $10 million through a Series A funding from IDG Capital. The latter also participated in raising $75 million for Coinbasethrough a Series C funding round and a $50 million funding round for Circle.

The new funding round for ImToken makes it the latest entry into IDG Capital’s investment portfolio. The Chinese Ethereum wallet startup plans to invest the money towards the development of new features for the ImToken wallet including the addition of support for other blockchains including that of Bitcoin (BTC) and Eos (EOS).

The raised capital will also be used to study Singapore regulations and also facilitate the launch of ImToken 2.0 in new international markets. The expansion will initially focus on the South East Asia market before expanding into other Asian markets. Ben HE also pointed out that the company has to do its due diligence especially because of the rapidly changing regulations as well as strictness from governments.ImToken also plans to double down on African countries where it has already developed a user base. It also plans to expand its services in the U.S at around the same time as its international expansion.

The number of new startups focusing on cryptocurrency wallets have also been on the rise, meaning ImToken should expect heavy competition. It is therefore important for the startup to make sure that it takes measures aimed at keeping the competition at bay and helping it to stay ahead.

How is Ethereum (ETH) Connected with EOS?

After the advent of Bitcoin, it didn’t take long for people to understand the potential behind its technology and from there started a phase of blockchain based project development which created some of the current crypto giants. Ethereum is and has been an influential blockchain project and its market situations have always reflected the overall crypto market’s sentiments.

EOS has become the talk of the hour due to its capabilities, the goal of replacing Ethereum, Mainnet launch, exposed vulnerabilities and suspected ETH sell-off staged by its team a few days ago. Things between EOS and Ethereum are evidently competitive as they aim towards the same objective which is facilitating the production of DApps (decentralized apps) on their platform.

In this article, we shall dive into the details and point out where the major difference lies and discover the influence of EOS mainnet launch on ETH markets.

EOS vs ETH: Differences Between Ethereum and EOS

The structure, markets, and support behind each of these projects are quite different. Ethereum has been live and up since 2015. The core of Ethereum is a decentralized platform which runs smart contracts. Countless businesses and even enterprises have joined Ethereum Alliance in order to create applications for safer transactions, recording vital data on the blockchain.

EOS is, however, a newer project which operates using the same model as Ethereum, its launch is slated for June. Crypto analysts believe that being newer than Ethereum would give EOS an upper hand and provide them with a chance to better leverage the recent technologies and also increase the number of transactions per second. But all of these are speculations since all we know is what EOS aims to do. Despite the increasing hype around its platform release, there are no practical examples to back up their claims.

It’s important to keep in mind that both Ethereum and EOS have different target markets. Ethereum has become a successful blockchain project which is leading smart contract platform for organizations to build DApps in the industry of financial services.

Is EOS Really Ethereum Killer?

EOS is sometimes called the Ethereum killer because it targets the major flaws of the Ethereum ecosystem such as scalability, usability, and functionality with its newly developed technology. EOS will be launched using a DPoS protocol which will increase its chances to outdate Ethereum’s PoW consensus protocol. EOS has made it publicly known their DPoS network will allow their platform to hold 1,000 transactions per second which in case of Ethereum is merely 15 transactions.

But once we understand that all EOS has done is to promise its users greater efficiency and facilities, it’s going to be tough competing with Ethereum which already has numerous supporters all over the world due to its constant development and affordability. It’ll take EOS more than speculations, hype, and claims to take down Ethereum.

Impact of EOS Mainnet Launch on ETH Market

People who have been monitoring the global crypto markets can’t possibly miss the obvious Ethereum sell-off that took place on 28th May on Bitfinex. While Ethereum was trading above $570 USD this sell-off managed to shoot down ETH by 8.49% at the point of $515 USD within 24 hours. Analysts and news agencies tried to reach the bottom of the situation and ultimately tied it to EOS team.

The first tech site which pointed it out was trust node and they speculated that this crash could be linked with Binance recent addition of EOS/Tether pairs. According to their report, the trade took place at Bitfinex which is one of the largest and most influential crypto exchanges, for almost an hour and within that hour approximately 180K ETH was exchanged.

Since only one exchange (Bitfinex) was seen to be complying with the sell-off and not OKEx or GDAX therefore, it’s being suspected that there was either one team or one person who caused this crash which is most likely to be EOS. The EOS team was recorded to spend around 1 million USD on Ethereum just four days before this sell-off.


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Final Thoughts

Currently, Ethereum is gaining 1.33% as its trading at $582.19 USD and its market capitalization has touched $58 billion USD while the exchanged volume is $2 billion USD.

When it comes to EOS, markets are still in the red after epic vulnerabilities were found out by Chinese internet security giant 360. At the time of writing, EOS individual price is $12.24 USD and its total market capitalization has gone down to $10 billion USD.

This recent price manipulation has proved the CFTC investigation is required to save investors from such schemes. But it will be long before a definite step is taken. Crypto enthusiasts are hoping the current market situation changes soon with the EOS Mainnet launch. Many EOS supporters believe that EOS will be closing in on Ethereum in the days to come.

The article was written by Global Coin Report.

Bitcoin Treads Water Early as the Bulls Look for More

Bitcoin gained 1.56% on Saturday, following Friday’s 0.61% rise, to end the day at $7,638.1, Bitcoin’s highest day’s end since 23rd May’s $7,986.3.

A start of the day $7,441.5 low held above the day’s first major support level at $7,373.8 leading to a mid-morning rally through the day’s first major resistance level at $7,644.04 to an intraday high $7,698.8 before easing back below the major resistance level by the day’s end.

Bitcoin’s mid-morning surge left the rest of the day relatively range bound, with Bitcoin’s only test being a mid-afternoon intraday high $7,698.8 and afternoon low $7,590.0.

A move was expected and Bitcoin delivered, though for the Bitcoin bulls, falling short of $7,700 levels and the 23.6% FIB Retracement Level of $7,738 continued to leave the extended bearish trend intact, with a pullback to 29th May’s swing lo 7,040 and sub-$7,000 levels still on the cards.

Market sensitivity towards regulatory chatter remains an issue for the cryptomarket and, while the week has delivered some relief for Bitcoin, any material recovery to bring $10,000 levels into play will remain some way off for now.

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At the time of writing, Bitcoin was flat at $7,638.3, recovering from a morning $7,600 low in what’s been a relative choppy start to the day, Bitcoin hitting an intraday high $7,668.1 before the morning’s low that held well above the day’s first major support level at $7,486.8.

Holding at $7,600 will have been the positive through the morning, while Bitcoin has yet to test key resistance levels, with the 23.6% FIB Retracement Level of $7,438 and the day’s first major resistance level at $7,744.1 some way off.

For the day ahead, a move back through the morning’s $7,668.1 high would support a run at $7,000 levels, with the Bitcoin bulls targeting the 23.6% FIB Retracement Level of $7,738 to support an near-term bullish trend.

Failure to move back through the morning’s high to test selling pressure at the 23.6% FIB Retracement Level would support a pullback, with any slide back to $7,500 levels likely to bring the day’s first major support level at $7,486.8 into play, with broader market sentiment to have a hand in the level of support Bitcoin will find at sub-$7,500 levels, the bears continuing to eye sub-$7,000 levels before letting go of the reins.

In spite of the possible downside and concerns over the regulatory outlook, Bitcoin will likely find support through the morning, though investors will need to look out for a late in the day reversal ahead of the new week, with concerns over possible negative news likely to limit the upside potential following three consecutive days of gains.

Elsewhere in the cryptomarket, Monero’s XMR led the way with a 2.55% gain at the time of writing, while EOS was the worst performer, down 1.74% off the back of the end to its 1-year initial coin offering that was reported to have raised $4bn.

BTC/USD 03/06/18 4-Hourly Chart

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Bitcoin Ready to Make a Move as the Bulls Move in

Bitcoin gained 0.61% on Friday, following Thursday’s 1.48% rise, to end the day at $7,531.4, a second consecutive day in positive territory seeing Bitcoin up 2.61% for the current week, Monday through Friday.

While the early part of the day was relatively range bound, a mid-morning rally took Bitcoin through to an intraday high $7,599.8 before a mid-day reversal, with Bitcoin falling short of the day’s first major resistance level at $7,644.4 and more importantly, the 23.6% FIB Retracement Level of $7,738.

The mid-day reversal saw Bitcoin slide to an intraday low $7,329.2 to test the day’s first major support level at $7,348.5 before recovering to $7,500 levels through latter part of the day, $7,500 being a key level for Bitcoin at the end of the week, pinning Bitcoin back from more material gains and a run at $7,700 levels.

In spite of the upward momentum through the week, the extended bearish trend formed back at 5th May’s swing hi $9,999 remains intact, while a move through to $7,700 levels would support a bearish trend reversal from 29th May’s swing lo $7,040 that looks to be the bottom of the latest bearish trend.

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At the time of writing, Bitcoin was down 0.51% to $7,482.8 in what’s been a relatively choppy start to the day, Bitcoin sliding from $7,533.6 to a morning low $7,441.5 in the first hour before recovering to attempt a break out from $7,500. A move through to a morning $7,535.8 high was short lived, leaving Bitcoin back at sub-$7,500 levels, with the day’s first major resistance level at $7,644.4 left untested this morning.

For the day ahead, breaking out from $7,500 will be key for Bitcoin to continue the bearish trend reversal and cement a near-term bullish trend, with a break through the day’s first major resistance level at $7,644.4 needed to drawing in investors side lined through May to bring the 23.6% FIB Retracement Level of $7,738 into play.

Failure to break through to $7,600 levels to test the day’s first major resistance level will likely see Bitcoin pull back through to sub-$7,400 levels to bring the day’s first major support level at $7,373.8 into play, the bearish trend having limited recent highs through the increased resistance at $7,500.

$7,500 will continue to be the key level for the Bitcoin bulls, any moves through $7,500 supporting an upward move through the day.

Elsewhere in the markets it was a mixed bag, with EOS leading the way amongst the majors, up 2.21% at the time of writing, with NEO, Stellar’s Lumen and Monero also on the move, while Bitcoin Cash and Ripple’s XRP were flat through the early hours of the morning.

The good news will be that there has been some divergence amongst the crypto majors, with greater divergence on the horizon, once governments and regulators have delivered their blows to the respective markets.

BTC/USD 02/06/18 4-Hourly Chart

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Is EOS the Most Promising Cryptocurrency in Development?

EOS is a project who has drawn much attention to itself lately. In part because of the recent sudden increase in the value of its native token and its Weiss rating.

In this article, we will analyze the potential of the EOS project and its probable future. It is my personal opinion that this cryptocurrency is a serious contender for the title of “Most promising DAPP/smart contracts platform”.

What is EOS?

EOS is a project belonging to the same category as Ethereum (platform for DAPP and smart contracts) but substantially different. In fact, EOS seems to have two main objectives that it seeks to achieve through its development: Scalability and ease of use.

Scalability

Scalability is the term used to refer to the number of transactions a blockchain is able to handle in a given period of time. A blockchain that can handle a large transaction load per second without any problems is called “scalable”. EOS faces this challenge mainly through two implementations: DPOS and interoperability between blockchains (achieved with the Dawn 3.0 upgrade).

DPOS

DPOS, Distributed Proof Of Stake, is the consensus algorithm of EOS (Steemit and BitShares use the same algorithm, after all, they had the same technical director, Dan Larimer). This algorithm sacrifices a certain amount of decentralization for a big advantage in terms of scalability. In fact, in the worst-case scenario, it is estimated that a single native EOS blockchain will reach 1000 transactions per second. But, in reality, it is to be expected that these will initially be around 3000 and then increase as the protocol is updated. For comparison, Ethereum handles about 20 per second, Bitcoin mind about 7.

The price of this is that only the 21 so-called block producers can validate the blocks, which substantially reduces decentralization. This is not the most resilient or incensurable blockchain, but it is the most suitable for mainstream use on a large scale. In fact, unlike what many believe, EOS will not “kill” Ethereum. Of course, as I previously suggested, it will probably get a good slice of its market. But Ethereum will continue to have its own niche. In particular, ETH will thrive where immutability, security, and decentralization are of utmost importance.

The blocks on the EOS network are also generated every half second. This means that transactions will always be confirmed within a few seconds if not just one. On the Ethereum network, an average transaction on press time takes about a minute and a half to be confirmed with one block added to the blockchain every 10-19 seconds based on network congestion. The Bitcoin blockchain instead takes on average just under an hour and a half to confirm a transaction with a block added every 10 minutes.

EOS seems a very good long-term investment
EOS seems a very good long-term investment

Inter Blockchain Communication

The other, even more noteworthy, way in which EOS seeks to increase its scalability is communication between blockchains. This allows, according to the reports, two or more blockchains to communicate (and collaborate to manage a greater load than single chain could). Particularly noteworthy is the statement that this standard is as secure as are interactions between smart contracts on a single chain.

This means that a transaction on one chain becomes automatically available on another. The only disadvantage is that this becomes visible only after this transaction has been confirmed on the other chain (that should happen in under 3 seconds). This feature of EOS is the basis of the statement that EOS can handle unlimited transactions per second.

Ease of use

Another not to be underestimated feature of EOS is how much attention has been dedicated to making it easy to use. The system includes features such as humanly comprehensible addresses, password recovery systems or the lack of transaction fees (which allows you to interact with DAPPs without owning tokens). These, together with its speed, make it possible to interact with the blockchain without even knowing that what you are using is not just a normal website.

To understand what is described, just look at steemit. This social/blogging platform, although it has some peculiar features, doesn’t seem to have a blockchain and some tokens at its base at all. This is the kind of DAPPs that are going to be hosted on EOS.


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Airdrops for EOS hodlers

Airdrop has become now a typical buzzword that we hear in the blockchain industry with the intention of attracting attention. This term simply refers to the free distribution of tokens. Often this is done in order to draw attention to the project, for example by giving tokens to those who have participated in other ICOs, so that they look for the project from which they derive. Other times just to trigger network effects. But in the EOS ecosystem, Airdrops have a different motivation, which is why I have said in the past that this may be the best investment in the long term.

“What’s the reason?” is the question that spontaneously arises in the mind of any person with common sense. This is because everyone knows that you should never expect anything for free. The answer to this question brings us to our attention something that is actually even better news.

Block.one has raised several billion dollars so far through the EOS ICO. These funds are intended to finance projects for which there will never be an ICO. In fact, more funds have already been announced for this purpose, including the USD 100 million joint venture between Block.one and the German Fintech incubator FinLab AG.

Projects financed by these funds, collected during the ICO, do not, therefore, need to finance themselves by selling their tokens. Their tokens are then distributed free of charge (hence as an airdrop) to all holders of EOS tokens. This means that investing in EOS is investing in a whole ecosystem in a much more direct way than investing in other similar projects (e.g. NEO or ETH). An analogy would be to buy ETH and consequently, in the coming months, receiving also the tokens of all the major projects realized on the platform for free.

Some Numbers

The EOS page on Coinmarketcap indicates that, with a total market capitalization of 10,590,855,420 dollars, this token is the fifth cryptocurrency by market cap. In fact, the latter has recently surpassed Litecoin (LTC) which has a market capital of 6,596,457,497 dollars (therefore now just over half that of EOS) at the time of printing. As far as price is concerned, EOS has grown by more than 1800% in less than a year (since July 2017) and then sustained a drop. (The graph renders the image previous to the drop in price.)

1

The features described above, once tested by real software have attracted a large number of investors. In fact, initially, the product has been subject to countless criticisms due to its ICO, which lasted nearly a year and will end in just a couple of days. But those who believed in the project when most accused it of being a scam enjoyed a low-price entry and substantial gains.

Analysis

It should be considered that the value of the EOS token at this time is purely speculative. In fact, until the EOS network is launched in three days, the token is completely useless. Ten billion dollars is a very high estimate for a platform still in development. We can, therefore, draw two logical conclusions:

  1. The price of the token at this time is mostly linked to the enthusiasm due to the upcoming launch.
  2. Consequently, a price correction is underway.

It is a Bubble, But that’s Not an Issue

EOS seems a very good long-term investment. That said, like any investment in this space, it is subject to high risk. The reason for this is that the sector is immersed in a huge speculative bubble. It is not by chance that this is often compared with the dot-com bubble that burst at the beginning of the millennium.

Indeed, just like at the beginning of the millennium it is to be expected that the vast majority of companies in the sector will fail. But that bubble was also a primordial soup in which companies such as Google and Amazon developed, the stocks of which at the time were worth only a fraction of what they are valued nowadays. In the same way, this time too, we can expect that the revolutionary technology such as blockchain, just like the Internet did, will lead to the birth of companies of similar relevance. My opinion is that EOS may be one of them.

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Bitcoin – What’s next for the Bitcoin bulls?

Bitcoin fell by 3.17% on Monday, following last week’s 13.9% slide, to end the day at $7,107.3

Bitcoin moved through to an early morning $7,437.7 high, falling shy of the day’s first major resistance level at $7,439.7, before a cryptomarket sell-off pulled Bitcoin into a nose dive.

The morning slide saw Bitcoin fall through the day’s first major support level at $7,225.4 to a morning low $7,142, before finding buyers to support a brief recovery to $7,300 levels. Bitcoin managed to move back through the day’s major support levels before a broad based afternoon sell-off saw Bitcoin slide through the day’s first major support level at $7,225.4 and second major support level at $7,111.1 to an intraday low and new swing lo $7,062.3.

Holding on to $7,000 levels was certainly key through the day, with sub-$7,000 support levels providing much needed support late in the day, Bitcoin managing to recover to $7,100 levels by the day’s end.

For the Bitcoin bulls, while the bearish trend was reaffirmed with Monday’s new swing lo $7,062.3, a steadying of the ship late in the day will have provided some comfort, though the pain is far from over, with the much talked about roll out of cryptomarket regulations likely to give the cryptomarket one last jolt before some normality can return to the market, Monday’s slide coming in spite of no apparent market forces being in play.

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At the time of writing, Bitcoin was down 0.05% to $7,094.2, with Bitcoin bucking the trend through the early part of the day, the majority of the majors managing to recover from losses seen in the early part of the day.

Bitcoin slipped to a morning low and new swing lo $7,040 in the early hours before recovering, sub-$7,000 support levels kicking in to prevent a pullback to the day’s first major support level at $6,967.17.

In spite of the recovery, Bitcoin’s move through to a morning high $7,133.4 was short lived, with Bitcoin failing to come close to the day’s first major resistance level at $7,342.57 or the 23.6% FIB Retracement Level of $7,755 before easing back mid-morning.

For the day ahead, a move through to $7,200 levels would support a run at the day’s first major resistance level at $7,342.57, though with the bearish trend intact, we would expect resistance at $7,300 to pin Bitcoin back from further gains, barring a material shift in sentiment across the broader market.

Failing to move through to $7,200 levels could see Bitcoin go into reverse, bringing the day’s first major support level at $6,967.17 into play, with Bitcoin’s new swing lo in the early hours likely to test investor appetite later in the day.

Elsewhere, Cardano’s ADA and Ethereum were leading the way at the time of writing, with gains of 4.49% and 1.83% respectively, while Stellar’s Lumen and EOS were in the red, down 0.51% and 3.80% respectively.

BTC/USD 29/05/18 4-Hourly Chart

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How to Buy EOS Coin: A Complete Guide

Before we get into the business of buying EOS tokens, it is essential to have a clear idea of what EOS is all about.

What is EOS?

Ethernet over Sonnet (EOS) is a powerful blockchain-based infrastructure that enables the development, hosting and execution of decentralized applications.  EOS is a brainchild of, Dan Larimer who is also the co-founder of Bitshares and Steemit.

Just like Ethereum, it provides an operating system that simplifies the process of creating Decentralized Applications commonly referred to as DApps. However, unlike Ethereum, EOS seeks to be more scalable and flexible in a bid to make it easy for developers to come up with decentralized applications.

Decentralized applications run on a decentralized rather than centralized peer-to-peer network servers. Unlike other apps, they don’t require third party or intermediaries for operations. Instead, they connect providers users directly.

How EOS Works

Simply put, EOS is an architecture that compliments the internet. It acts as a software that allows developers to create decentralized applications while leveraging blockchain technology. EOS network is designed to meet the performance requirements of decentralized applications when it comes to interacting with millions of people at any given time.

Unlike other platforms used for DApps, EOS has no fees requirements. It is also upgradable and comes with low latency that allows for scaling of transactions to millions per second.

The EOS network uses Delegated Proof of Stake DPOS as its consensus algorithm to secure the blockchain. Unlike Proof of Work (POW) or Proof of Stake (POS) algorithms, only those holding tokens on a blockchain utilizing the EOS.IO software are allowed to vote for block producers. Delegates can only produce blocks depending on the number of votes they receive with respect to other producers.

A single authorized producer produces a block in EOS blockchain every 3 seconds. The network rewards block producers with tokens instead of transaction fee, for every block produced. EOS relies on people and voting to secure the blockchain as opposed to miners solving complex puzzles.

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EOS Token

Outside the open source software, there is an EOS token that powers the network. The token was released using Ethereum. The native cryptocurrency can be used and exchanged for other cryptocurrencies.

However, its primary purpose is to power the EOS ecosystem. Anyone looking to develop decentralized applications using EOS blockchain must own some EOS to manage demands on the network. To be able to run an application one needs disk space as well as CPU, time and RAM. Block producers must publish capacity of the three, by first buying server time using EOS tokens.

The EOS network is similar to a decentralized operating system whereby developers can build applications. It is powered by the EOS coin which acts as a claim of on server resources. Developers need EOS coins to be able to access and use the EOS blockchain

How To Buy EOS

There are many ways through which EOS tokens can be acquired’ to be able to access tools and resources needed to build decentralized applications on the EOS blockchain

STEP 1. Choosing an EOS Wallet

The first step to owning EOS tokens entails owning a functional digital wallet that can be used to store tokens, bought. Currently, there are no official EOS wallets, which means one has to rely on third-party wallets.

Given that EOS uses the ERC-20 token, one can store tokens in any ERC-20 Compatible Wallet

The Best EOS Digital Wallets

Desktop Wallets

Jaxx and Exodus are some of the most sought after desktop wallet for EOS storage. The fact that both of them are multi-cryptocurrency wallets means they can be used on Windows, Mac, and Linux. Jaxx can also be used on Android and iOS-powered devices.

Exodus is a free desktop wallet with user-friendly features. It comes with a live chat feature for checking the value of one’s EOS holdings, promptly and easily.

Jaxx, on the other hand, is ideally suited for beginners given that it is flexible and easy to use. It is compatible with iOS and Android devices and can still be accessed through Chrome browser extension. Jaxx also comes with a 12- word master seed for recovering the wallet.

Another key advantage of using the two wallets has to do with the fact that they come with the ShapeShift functionality, which allows for easy trading of ERC-20 tokens that one might possess.

Web Wallets

Web Wallets are the best as they allow for safe storage of tokens on a computer rather than online. MyEtherWallet is an open source EOS wallet that stores user’s private keys on a computer. MyEtherWallet is among the best as it allows users to be in full control of their information.

Mobile Wallets

Mobile wallets come hand in handy when one wishes to access their EOS holdings via a smartphone. Jaxx Wallet is a perfect fit in this case as it has support for iOS and Android devices.

Hardware Wallets

These types of wallets use a piece of hardware to secure tokens by providing a form of cold storage.  Trezor is a perfect fit in this case as it has multiple layers of security that allow it to operate on zero Trust approach.

Trezor comes with a four-digit pin code designed to shield people’s holdings from unauthorized people. It also comes with a 24-word seed that is useful in case one loses the wallet or forgot the Pin Code. Other layers of security that may come hand in handy include Encrypted passphrase and wipe password.

To be able to use this wallet you will have to pat with $104, which makes it one of the most expensive digital wallets.

What to Look For in an EOS Wallet

  • Security

In a world where hackers are constantly looking for loopholes to steal tokens, security should be a top consideration when selecting an EOS wallet. It is thus important to analyze the kind of security features that a wallet comes with, to be on the safe side. Things like two-factor authentication and advanced encryption are a must in this case.

  • Private keys

An EOS wallet should be able to provide support for Private Keys as they enable the sending and receiving of tokens. A good wallet is one that allows one to retain control of the private keys.

  • Continued Development

A wallet that is constantly evolving with new features would be perfect given that the cryptocurrency landscape is changing by the day. Hackers are becoming powerful by the day thus important for a wallet to also evolve.

  • Reviews

It is important to be on the lookout for what other people are saying about an EOS wallet before settling on one. Always look out for things like security flaws in the reviews as well as talk about customer service and development team.

Step 2. Visit a Cryptocurrency Exchange

Cryptocurrencies exchanges act as stock market where one can buy and sell an array of digital currencies. Once you have set up a digital wallet, the next step to buying EOS tokens entails visiting a crypto exchange.

Buy EOS on Binance

Binance is one of the biggest and most reputable crypto exchanges, listing a number of Altcoins including EOS tokens.  Unlike other transactions, Binance only accepts cryptocurrencies as a mode of buying other Altcoins.

Once you have opened a Binance account, ensure you have some Bitcoin or ETH to be able to purchase EOS.

Buy EOS in Kraken

Kraken Cryptocurrency is one of the best exchanges for buying EOS tokens, given that it accepts a wide array of payments. For instance, you can use fiat currencies of the likes of USD, EUR, and GBP to buy tokens in addition to other digital currencies.

It is easy to register for an account with the crypto exchange and charges low transaction fees.

Buy EOS via ShapeShift

ShapeShift provides an easy way of owning EOS tokens anonymously.  Unlike all the other cryptocurrencies exchange, you don’t have to sign up for an account with ShapeShift.  In the exchange web page, you will be able to select the crypto you want to swap which in this case could be Ethereum Bitcoin, etc.

Next, you will have to select the crypto you wish to receive which in this case would be EOS. Once all this is done, ShapeShift will create a deposit address once you deposit the funds.

Buy EOS on Bitfinex

Bitfinex is a perfect fit for anyone looking to buy EOS using U.S dollars given that it is one of the traded pairs in the exchange is EOS/USD.

Buying EOS with Fiat Currencies

Currently, there is no way to buy EOS using Fiat currencies. The only thing one can do is visit an exchange like Coinbase and use fiat currencies to buy ETH or BTC. Once in possession of either BTC or ETH, you can use them to buy EOS on any of the top crypto exchanges.

Coinbase and CEX.IO are the two exchanges that allow one to use credit or debit cards to buy crypto of choice.  Once you have bought, say a BTC or ETH you can transfer it to another exchange such as Binance and use it to buy EOS.

Step 3. Withdraw EOS Tokens to Your Wallet

Once you have bought the desired amount of EOS tokens from crypto exchanges, it would be important to transfer them to a secure a crypto wallet. Never leave your holding on an exchange as they are most vulnerable to hack attacks.

Crypto wallets ensure one’s holdings are protected in case an exchange becomes insolvent or gets hacked.


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EOS Features

  • Scalable

EOS network is scalable in that it can support thousands of commercial-scale decentralized applications at any given time. The network can also process millions of transactions, a second, with the use of asynchronous communications.

  • Zero Transaction Fees

Unlike other blockchain projects that charge people transaction fees, EOS will allow people to access its blockchain resources depending on their EOS token holdings.  However, individual app developer determines transactions fee that is generally low.

  • Governance

Block producers hold the right to determine which transactions are confirmed on the blockchain, in addition to being able to make changes to the EOS systems or the source code. What this means is that the community can upgrade downgrade or fix bugs on the system.

  • Blocks Formation

In EOS network, blocks are produced every three seconds, by delegated’ block producers. The fact that the network has a limited member of delegates producing blocks at any given time means that blocks are solved in batches of 21.

Ethereum vs. EOS

While Ethereum and EOS are extremely popular because of their efforts to capitalize on the capabilities of blockchain technology, they also differ a great deal.

  • Programming language

Developers looking to develop decentralized applications on Ethereum must be conversant with solidity, a programming language on which applications are run on the network. Programming language Limitations is seen as one of the reasons why a number of developers have shunned the network.

EOS, on the other hand, is compatible with any programming language as long as it can be compiled in the Web Assembly.  A majority of developers in the network use C++, a programming language that is appealing and popular.

  • Consensus protocols

Ethereum runs on Proof of work consensus protocol which can process an average of 15 transactions a second. The downside of the protocol is that it makes it impossible to fix broken decentralized applications on the network.

EOS on its part relies on delegated proof of stake that eliminates a good chunk of the challenges that Ethereum network faces.  The protocol allows developers to freeze the network whenever a broken application is detected.

One of the benefits of the DPOS protocol is that it allows EOS to process an average of 1,000 transactions per second

  • Network Economics

EOS network operates under an ownership model whereby EOS tokens give a proportional share in the network bandwidth storage and processing power. It also comes with zero transaction fees and no costs for developers except the initial EOS tokens.

Ethereum, on the other hand, operates under the Rental Model whereby gas fees are required in exchange for every calculation, storage operation and bandwidth utilization. Transactions fees are not fixed as they keep on fluctuating as miners are allowed to select transactions with the largest fees.

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First Bitcoin, Now Ether Futures Contracts Officially Launch

Following the introduction of bitcoin futures contracts towards the end of 2017, ether futures contracts now have a place in the markets as well. London-based digital asset exchange Crypto Facilities announced the product providing ether derivatives trading last week. According to the firm, Crypto Facilities is completely “authorized and regulated by the Financial Conduct Authority,” meaning the news could potentially mean another big step in the direction of garnering attention from institutional investors.

This isn’t the firm’s first time introducing cryptocurrency futures contracts and derivatives trading to the markets. Before this latest announcement, Crypto Facilities had already been offering both bitcoin futures and Ripple’s XRP futures contracts as well. Ether, the cryptocurrency powering the Ethereum blockchain, is simply the latest addition to Crypto Facilities’ futures family, and a non-surprising one at that.

Timo Schlaefer, the founder of Crypto Facilities and former executive director from Goldman Sachs in London, has said that:

“Ether is the second most liquid cryptocurrency after bitcoin, trading in the billions of dollars daily, and we are excited to be launching ETH futures. The Ethereum network is the pre-eminent blockchain for smart contracts, and we believe this new trading instrument will attract more investors and bring greater liquidity to the marketplace.”


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Ether (ETH) in the Markets

Ether (ETH) is the second largest cryptocurrency by market capitalization in the markets, behind none other than bitcoin (BTC). After suffering a rough beginning to the month, ether (ETH) has been recovering from a nearly $360 low. By bringing smart contracts to the cryptocurrency industry, the Ethereum platform has remained crucial in the meteoric rise the industry saw towards the end of 2017.

Unlike many other cryptocurrencies, the platform ether (ETH) is derived from, Ethereum, established an easy way for teams to develop their own unique cryptocurrencies by issuing tokens on the Ethereum blockchain. Instead of requiring a full team of developers and experienced blockchain engineers, the Ethereum platform streamlined the entire process. Thousands of projects have gone live utilizing ERC-20 tokens for crowdfunding and utility token usage.

Ethereum has been the platform of choice for many of the leading blockchain disruptors in Fintech. Though there are almost too many tokens to keep track of on Ethereum at this point, there are some names that stick out in the fields they’re operating in.

EOS.io, for example, raised funding for their platform development utilizing ERC-20 tokens. EOS is a peculiar case because the ultimate goal of the project after completion is to be a direct competitor to Ethereum with a smart contract-based network of their own. However, even one of Ethereum’s largest competitors used the Ethereum network to crowdfund their project.

Homelend is another example of a company using the Ethereum platform to disrupt a massive industry—real estate. Running on the Ethereum blockchain with an ERC-20 token of their own, Homelend is bringing the decentralized nature of blockchain technology to one of the oldest sectors of the economy by bringing crowdfunding and decentralization to the mortgage industry.

Lastly, companies like Basic Attention Token (BAT) are bringing Ethereum’s robust infrastructure to reinvent newer industries as well, like digital advertising. BAT has been gaining a lot of traction and attention from those in the online marketing space and uses Ethereum to make business more fair and efficient.

Regardless of what industry ERC-20 tokens are breaking into, the underlying Ethereum network is providing the infrastructure. A wide array of projects, some notable, some not, use Ethereum as a means for blockchain implementation. Whether teams are using the Ethereum platform to raise funds for a project or utilizing the Ethereum blockchain for their own vision, ether (ETH) is at the heart of it and likely to gain even more traction. It should come as no surprise that ether has the second largest market capitalization in the markets.