The EOS/USD market is becoming an increasingly popular game for cryptocurrency speculators. When a lot of people hear about EOS, they think about the potential for huge returns; and investors have been trying to figure out what might happen with this coin in the long-term.
In particular, there are many who are hoping that this coin will become one of the top three coins – with Bitcoin, Ethereum and Ripple – as soon as possible. If that happens, then it would be interesting to see how high Bitcoin could go and how much demand there would be for both Ethereum and Ripple.
In order to predict where EOS is going in the short-term, you will need to know where it has been. So, let’s take a look at the history of this coin to see how far it has fallen and how high it might be able to go in the future.
The History of EOS (EOS) Coin
EOS, which stands for “Ethereum On-Chain Scaling” is an open-source public blockchain that developers can use to build decentralized applications (Dapps).
#EOS BULLS ARE WAITING 🐂https://t.co/41XbPzOxsB
— 🐝EOSEVENLOTTO🐝 (@NeokamalDaniel) August 12, 2022
It’s designed to be scalable and fast because it lets users create their own smart contracts and decentralized applications, rather than relying on a single application. EOS is designed to process more transactions per second than Ethereum, although the exact number of transactions that can be processed has not yet been determined.
EOS is also designed to be free of fees for users. If a new application is built on EOS and it becomes popular, the team behind EOS will take small cuts from the users of that particular application. For example, if a decentralized Uber were built on EOS and it became very popular, then everyone who used that service would have to stake tokens in order to use it. Those tokens could then be taken by the EOS team in order to support the development of the entire platform.
EOS rebrand and hard fork
The reason for this rebranding was simply because they wanted to differentiate itself from other coins with similar names, like Ethereum. The official ticker symbol of Ethereum is ETH and so in order to avoid any confusion between the two coins, EOS decided to change theirs to EOS.
In addition, it also recently underwent a hard fork in order to transition from an Ethereum-based blockchain operating system into a standalone blockchain network. This involved a change in the codebase of this project, which ultimately resulted in some users losing access to some tokens.
EOS overall performance
While EOS has been criticized for its slow performance, it still has the potential to become one of the top cryptocurrencies by market cap. It was also considered one of the most promising coins when it first launched as early predictions . However, these predictions have quickly changed and now everyone acknowledges that EOS is still one of the more promising coins on the market today.
In addition, it’s also a great investment to hold if you are an investor because it really is still in its early stages. For example, the coin recently reached over $1.6 billion in market capitalization, which was its first time that it had ever reached this level. So, it definitely has the potential to increase in value as the development of this platform progresses.
Is it worth investing in EOS?
In terms of investment, this coin presents an interesting opportunity for investors because it is still very new and there is a lot of room for growth. However, you will need to do your research if you want to buy this coin. The reason is that trading in cryptocurrency is not for everyone; and if you don’t have any experience with this type of market then you should do some research before making your first investment.
It would be a good idea to start by reading about what it takes to invest in cryptocurrency. If you do that, then you will know exactly how this coin works, what the potential risks are and what other investors have said about it.
