EOS Shoots Up by Over 30%, Eyeing 2nd Place?

For a platform touted as the Ethereum killer, its native crypto shooting up by over 30% is sufficient to capture the attention of the crypto community. On Wednesday, the markets saw a reshuffle as EOS (Enterprise Operation System) rose from its low position to as high as fifth place, just couple of lines away from toppling ETH.

As seen on Huobi Pro at the time of this writing, the crypto is currently trading at $9.25 per EOS. On the coin’s dedicated page on Huobi Pro, EOS tokens are described as “ERC-20 compatible tokens distributed on the Ethereum blockchain pursuant to a related ERC-20 smart contract.”

Will EOS overtake ETH? That is yet to be seen. Interesting fact to note, and as stated above, is that their ICO is hosted on the Ethereum blockchain. The powerful infrastructure platform will be distributing its token over a period of 341 days, from 26th June, 2017 to 1st June, 2018.

EOS rise in ranks saw the crypto market cap expand by over $7 billion. Simultaneously headlining market rally, there was also a surge in trading volume. Currently, the token’s trading volume is at over $1.2 billion in a 24-hour cycle.

The last EOS price surge was said to be related to the airdrop of the period. Now, also a price surge is happening as another airdrop event nears. The latest airdrop is set to happen this Saturday, that’s in about 24 hours. EOS tokens will be airdropped to token holders with over a 100 token balance.

Coming from the founder of Steem and BitShares, optimism around the EOS project is a very strong one. According to the claims by the developers behind EOS, its features as a smart contract and DApps platform appear to be well advanced compared with the Ethereum platform.

You can buy and sell EOS with low fees on exchanges like the Huobi Pro exchange. With supporters like Dan Larrimer, well known for his successful creations: Steem and BitShares, being involved in EOS, its future can only get brighter.

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Certain features of EOS that place it on a higher pedestal according to some in the crypto community, include the following. One, is the parallel processing which allows you do more than one thing at once on the platform. Two, is its self-governing rules in form of a constitution that applies to each mined block. Three, is the self-sufficiency business model that makes provision for future development through a 5% inflation. Lastly, it is a true decentralized platform where all you need to deploy programs on the system is proving you own some EOS, they do not have to be spent to use the platform.

With an almost 10% daily increase and all the advanced features EOS promises, it’s safe to conclude that the future is bright for this DApp platform.

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