EOS (EOS) Price Remains Bearish Even With The Expansion Of The EOS Ecosystem 

Block.one has been making developmental progress and the EOS blockchain has had a significant surge in usage over the last year. The ecosystem continues to expand as more developers have chosen it as their preferred platform for blockchain projects. There are various projects on the platform right now with more to come in various industries from Data Services, Healthcare, Fitness, Security, Privacy, Communication and Identity industries among others. In fact, some in the industry believe that EOS may be on the way to overtaking Ethereum, the second largest cryptocurrency per market capitalization and the leading smart contract platform.

EOS Price Today – EOS / USD

Name Price24H (%)
EOS (EOS)
$4.65
2.39%

EOS and Ethereum offer essentially the service which is providing developers with a decentralized platform where they can build dApps and create smart contracts. Ever since it was debuted in 2015, Ethereum has been the number one choice for deploying smart contracts. With over 35 million unique addresses existing on the platform, Ethereum is projected to host up to two thousand decentralized apps before the end of 2018.

As with every other aspect of technology, Ethereum now has to contend with competitors. EOS is one out of many third generation blockchain projects that threaten Ethereum’s position in the industry. EOS was debuted a little over a year ago and it hosted a record setting ICO that lasted for a whole year and raised more than $4 billion for block.one. Until this day, EOS is still the most successful initial coin offering in the world.

One of the reasons why EOS has seen such progress is that the platform is more scalable than Ethereum. It supports so many commercial dApps and makes inter-blockchain communication seamless. The EOS blockchain is able to compute millions of transactions within seconds because of the Delegated Proof of Stake protocol. It offers developers more flexibility than Ethereum. They can easily pause and work on broken applications. What’s more, the platform charges zero transaction fees although new account holders are expected to pay for RAM.

EOS hosts a commendable number of dApps with the top five being EOSBetDice, BetDice, EOS Knights, PRA Candy Box, and EOS Lucky Games. These applications and more are doing well on the EOS blockchain. If the platform continues to grab the attention of developers, it will host many more apps soon.

Goldman Sach, on the 20th of September, announced that it will be adding EOS to its platform. This will give people an opportunity to buy EOS individually or through Circle.

Not too long ago, Block.one announced that it has even provided a solution that will make EOS more scalable than it currently is. In fact, they claimed that the solution will make the EOS blockchain the best in the world.

How Have these Developments Affected The Price Of EOS

Developmental news is usually one of the drivers of price. This doesn’t seem to be the case right now as the price of EOS is currently in its lowest lows. At the time of writing, EOS was trading at $5.41. While it is green with a 0.83% against the USD, it is red against Bitcoin by 0.05%. The negative sentiment in the market is more powerful than the developmental progress that EOS has been making and so the price has remained at a low.

SEE ALSO:   Bosch And IOTA Enter Partnership To Launch New Data Collection Device For IoT 

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