Can anyone explain in layman’s terms what is the big deal with EOS? Is it like ETH?
EOS is increasing in price for several reasons. The founder and CTO is Dan Larimer, who created BitShares and Steem. Although neither application went viral, both are still considered best-in-class blockchain based applications. They currently process more transactions per day than all other blockchains, including Ethereum. Dan is on the same technical level as Ethereum co-founder, Vitalik Buterin (uber geek status).
Dan also came up with the consensus mechanism known as Delegated Proof of Stake (DPoS), which is now used by many other projects.
The reason EOS is increasing in price is because the system is getting ready to go live in June and it already is able to accommodate the transaction volumes necessary for the large scale adoption of decentralized applications, compared to Ethereum, which is still working on various scaling solutions
Arguments have been made that EOS will be far more centralized than Ethereum (which is the basis of the “sovereign-grade” versus “platform-grade” censorship resistance debate that’s been taking place in the crypto community lately.
The EOS team seems willing to accept somewhat more centralization in the interest of having a platform that will be usable today.
There’s been a lot of buying recently in anticipation of the conclusion of the EOS ICO, which has been happening for almost a year. Once that’s over, EOS coins will be only available on the secondary market.
Since markets are always forward looking (including crypto), there’s a good probability of a big sell-off in June. The typical, “Buy the rumor, sell the news.” scenario.
Here’s a research report on EOS from crypto hedge fund, MultiCoin Capital.
https://multicoin.capital/2018/04/24/eos-analysis-and-valuation/
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Sounds a bit like Ripple and XRP, eh?
Hey there you know,EOS is again named as the world’s top cryptocurrency rank released by the Chinese government. The ranking was compiled looking at the market capitalization as its major yardstick.
How often does that list come out? I wonder where EOS sits now, being down nearly 50% since end of June.