The EOS crypto is about to be a powerful-led localized blockchain system that will assist industrial-scale decentralized applications (dApps). EOS claims that they will have the capacity to anchor millions of transactions per second without charging a transaction fee.
Scalability is known to be the biggest obstacle to tackle in the blockchain realm. Cryptocurrencies like Bitcoin manage seven transactions per second, considering it is a standard blockchain and requires a cumulative agreement across nodes. Here is where EOS radiates as it can use the convenience of Delegated Proof of Stake (DPoS). EOS will enhance the blockchain ecosystem bringing about the widespread adoption of cryptocurrencies amongst users and developers.
What is EOS?
EOS was introduced into the crypto market in 2017 with an ambitious goal of providing fantastic speed, scalability, and adaptability for developers to curate commercially driven dApps.
The brainchild of EOS is Daniel Larimer, a prominent reputation in the crypto space. Larimer also activated the protocol of DPoS in EOS. Through this protocol, users can stake their tokens by allocating them into the Network by freezing them. With their invested stake, they can vote for block producers. Twenty-one block producers are chosen who authorize new blocks, confirming transactions, and are tasked with the governance of the EOS blockchain. These producers are then compensated with EOS tokens.
Working of EOS
As entities of EOS are dedicated to tasks like authorizing transactions, the Network can add new blocks to the chain every half second. The users and developers haven’t levied any fees for the transaction of tokens. Preferably, EOS gives them ownership of part of their networks through resources like NET and CPU, depending on their staked amount in the Network.
Is It Profitable to Invest in EOS?
EOS is on its journey to have a blockchain network that users can associate with, isn’t too complex, and can easily navigate the system. The cryptocurrency can hold a plethora of dApps in their Network. Adding on to their honors, EOS has skills like a revolutionary approach in the blockchain system and implements parallel execution.
If you are likely to invest in EOS, a bonus would be granted for the authorization of voting for producers and the ability to be influential in an area like protocol development.
Currently, EOS is ranked at the 24th position amongst significant assets in cryptocurrency. At the time of writing this feature, EOS has recorded a trading volume of $9,793,901,795 and a market price value of $9.09. (Data cited by CoinMarketCap).
Cryptonewsz’ Crypto analysts see the price value of the EOS coin to have a momentous surge with $12 for each currency and accelerate even further in the coming years. By 2025 the EOS coin has the potential of reaching a price value of $35.
Where Is EOS Coin Used?
The blockchain network EOS has its homegrown native token known as EOS. Its Network is designed for users to have authority perks. The percentage stake a user owns is directly proportional to the percentage of ownership in the EOS network. Therefore the amount of EOS Coins a user invests in will lead to the amount of authority they have in the Network. This feature is what permits the transaction of EOS coins to have no fees.
EOS Price Prediction by Crypto Experts
For the year 2025, the EOS Price Prediction has forecasted to reach $30-$35 in February and see a surge of $50 by April.
According to the crypto analyst Wallet Investor, their EOS Price Prediction is that the token will be a good asset for investors and foresees a $911 price value by 2023.
Holding a different sentiment on the price value, analyst Long Forecast says the EOS coin will have a price value of $30 by 2025. Whereas crypto-analyst Prime XBT being bullish about the tokens’ price value, has recorded that it will reach $30 by the end of this year.
EOS has the backing of exciting technology and a strong team. They have every potential to do something special for the blockchain ecosystem. It’s refreshing to see different blockchain systems like EOS bring a solution-oriented vision to the forefront. Even Crypto analysts view the Network emerging as an intimidating ICO in the blockchain space.
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