Why EOS Is Skyrocketing | My Opinion
The Cryptocurrency market has seen a general uptrend throughout last week with EOS being at the peak of the action. EOS is lying in fifth position and has had a 78% gain so far from last week up to today according to data from coinmarketcap.
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I think EOS is doing well because of the following reasons:
Mainnet Launch
EOS mainnet lauch is set for June 2nd 2018 and this will see EOS moveaway from Ethereum blockchain to its own Blockchain. This change will provide faster transaction speed compared to all ERC20 tokens as claimed.
In this EOS Medium post, it is clear that the EOS blockchain will become the fastest blockchain.
Supernode Registration
The Dev team at EOS has been accepting registrations to occupy one of possible twenty-one supernodes that will contribute to the maintenance of the EOS blockchain. This registration is currently ongoing and we can check its progress on the EOS GO Steemit blog
Supernodes are similar in context to mining pools and will be charged with accruing, mining and processing transactions. The EOS Dev team has only provided 21 supernodes positions and there a big competition to occur the position. Notable contestants are Antpool, EOS Canada and Bitfinex.
Global Joint Venture
Earlier this month, the EOS team announced their partnership with blockchain/VC veterans and the developers of the EOS blockchain and software. This will result in the creation of EOS global, a $200 million joint venture. This joint venture is intended to make EOS expand globally.
History turns to repeat itself
History has it that the launch of a unique blockchain mainnet is always accompanied by a rice in price of the token or coin because the market observes the fruition of the lengthy development process.
EOS is primarily driven by dApps which makes it easy for it to gain mass adoption.
What all these in place, it is difficult to predict what EOS will behave like after the Mainnet launch. I remain positive and have my fingers crossed!
Disclaimer
This post is based on my findings and research, it is in no way a financial advice but if you see it as one, you do so in your own risk.
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This is going to be a great opportunity buy the rumor sell the news.
Sure!, Enjoy the ride.
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