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EOS / US Dollar Chart, EOS/USD ()
EOS is a scalable blockchain platform designed for creating and launching decentralized applications. There is a cryptocurrency with the same name on the platform. It belongs to coins because starting June 2018, it operates on its own blockchain and a mainnet.
The EOS crypto project was established in May 2017 by block.one led by Daniel Larimer and Brendan Blumer. Mr Larimer is famous for developing a consensus algorithm Delegated Proof-of-Stake (DPoS) for his exchange Bitshares with the BTS coin back in 2014. In 2016, he created a social blockchain platform Steemit with the STEEM coin. As for Mr Blumer, in 2001, he created Gamecliff — an online marketplace for trading virtual currencies and items from MMORPG. In 2010 and 2013, he launched Okay.com and ii5 respectively, which are online portals for real estate agents.
The project’s ICO took almost a year: from 26/06/2017 till 01/06/2018. As a result, the company raised about $4.2 billion and set the record among all ICOs and STOs. On the first day, the EOS cost was 0.99 US dollars. On the last day, not cost but a market price on exchanges reached 12.31 US dollars. Thus, when the ICO was finished, the EOS price increased by 1143% without taking into account the ups and overall maximum reached within the ICO period.
The creators used insights from the Ethereum and Bitshares projects and added new functions to them. It resulted in an unusual architecture in the form of a decentralized operating system with an application suite. Promoters and fans pointed out this feature, deciphering the abbreviation as Ethereum Operating System, Earth Operating System, and Ethereum On Steroids.
Outstanding features that promoted an increase in the EOS exchange rate to the dollar were:
- absence of transaction fees (while Ethereum has gas expenditure);
- processing of transactions with a speed of 5 thousand per second with a capability to scale up to a million (while Ethereum can do only 15);
- use of the DPoS algorithm to vote and validate (more efficient than PoW in Ethereum and Bitcoin);
- support of C++ and other languages via WebAssembly (more familiar than Solidity in Ethereum and Script in Bitcoin).
Initially, the EOS cryptocurrency was a token of the ERC-20 standard which operated on the Ethereum blockchain. Migration to a unique blockchain took place on 09/06/2018 upon the launch of the proprietary mainnet. At the same time, the token evolved into the coin. The issue is automatic. We indicated the current amount of issued units above the EOS chart.
The coins of this cryptocurrency could not be mined. They are available only on exchanges. Besides traders and investors, developers buy EOS to deploy their applications on the platform. They need coins to use the computational power of a virtual machine and a network. The coins are also purchased and held off by active participants of the project to vote for delegates that confirm transactions and produce blocks.
EOS prediction, dynamics, and perspective
In 2018, the EOS price set the first record on 13 January — 16.23 USD. After getting over a market crash that followed and a lengthy crypto winter, on 9 April, EOS accelerated from 5.87 to 21.54 USD (an all-time maximum) in 20 days. At that time, even BTC did not have such dynamics of 267%. By the end of the year, when all cryptocurrencies started diving, EOS tested the bottom on 7 December at the mark of 1.56 USD.
In 2019, during an overall market uptrend, from 1 April till 1 June, EOS price increased from 4.20 to 8.51 USD. Then a correction started in June, and a fall — in July. At the same time, the BTC price was increasing up till 10 July.
The platform improvement goes on: developers will soon add new programming languages, set up parallel code execution, and establish a connection with other blockchains. However, neither did they indicate exact time frames, nor updated a roadmap. On the bright side, April 2020 brought the following news: Blockchain-based Service Network of China will support EOS nodes by the end of July. Also, the China Center for Information Industry Development once again placed EOS first in its cryptocurrency rating.
Here is the EOS price prediction for 2020 from technical analysis experts:
|June 2020||September 2020||December 2020|
|Digital Coin Price||$5.49||$4.82||$5.60|