Ever since Bitcoin shot into the limelight, there has been no going back for the crypto sector in the financial market. Presently, there are more traders in the crypto market than in some other financial market sectors. This is because the market is diverse, and new projects are springing up and making their mark across the market. These projects have been able to amass popularity and value through some of the issues that they solve. For example, XRP, the native digital asset of Ripple Labs, is used to facilitate transactions across different borders. Not only XRP but other tokens work in other markets. In this article, we will be looking into the EOS project and how valuable it will be in 2022.
What is EOS blockchain?
EOS is a decentralized platform that supports the creation, hosting, and running of decentralized applications. The platform was launched in June 2018 off the back of an Initial Coin Offering that Block.One hosted. The platform allows businesses and individuals to develop their applications on the blockchain. Its main drive is to help users navigate problems that are present in the older blockchains. With this, the platform focused on a higher scalability rate. While using older blockchains, traders often encounter low transaction rates while paying massive amounts as fees. With the use of both the horizontal and vertical scaling solutions, it provides accessibility to users on the network. With this, traders can carry out thousands of transactions every second without transactions costs charged by the chain.
How does EOS work?
The EOS ecosystem has a full-featured system that authenticates every action carried out by the developer. With the system, each user can access the application with permission from the developer. The developers can carry out this activity using the EOS panel, a critical component that every basic dApp must possess in today’s world. Also, businesses making use of the system can share access with their workers. In the same vein, companies are also allowed to extract data from the EOS ecosystem and store them in an offline folder. This means that the company can hold the data offline before they decide to upload it on the blockchain.
EOS also runs on a proof of stake consensus, which means there is no competition among miners. This is what allows EOS to fight scalability on its network. To become a validator on the network, traders must purchase many EOS tokens and stake them in their wallets. Like most proof of stake networks, the higher the staked tokens, the more chance a trader has to validate transactions and earn rewards. Unlike mining on Ethereum, Block Producers are responsible for creating new blocks on EOS. The reward for creating new blocks is that they are waived all fees relating to transactions that they carry out on the platform.
What Are The Benefits of EOS?
Although EOS holds the same value as Ethereum in terms of functionality, the network has some features that set it apart. Below are the mouth-watering features that EOS possesses;
What is $EOS?
$EOS is the native token of the EOS blockchain, which is used to carry out different activities on the platform. One of those is staking, with the highest EOS stakers open to validating transactions and earring rewards. Besides the above, traders can hold, trade, and sell EOS across crypto exchanges. $EOS is presently trading at $2.96, with a price surge of 1.43% in the last 24 hours. In the last 24 hours, the token has recorded a trading volume of $975,121,337 and a market cap of $2,833,114,525. There are presently about 985,535,153 EOS tokens currently in circulation.
EOS Price Prediction
Despite the market being riddled with volatility from time to time, EOS has shown promise with its price movement. Although the digital asset is coming off the back of a decline like most tokens, it is doing quite well considering other metrics. Presently, the digital asset is trading at $2.97 and has been able to gain 0.43% in the last 24 hours. Below is the price prediction of the digital asset by experts in the coming years;
2022-2023
The digital asset is presently on a good path with its project living up to expectations. It is presently trading at $2.97. Should things continue to go well this way, it could end the year at a minimum price of $3.6, and a further surge could see the digital asset grow towards $4.0 in the crypto market. In 2023, the digital asset could post an average trading price of $4.3, with a surge pushing it close to $4.8 at the end of the year.
2024-2025
There has been quite a lot about the price movement of EOS in the last few years. Some analysts have speculated that the project is looking quite stagnant despite its promise. But that might not be a limiting factor. The EOS price prediction for 2024 is set around $5.2, with a surge pushing the token as high as $6 in 2024. 2025 could also be another good year for the token, considering the technological advancement that could have been in place by then. Going by the price prediction of EOS in 2025, the digital asset could trade as high as $6.3, while a surge might push it close to the $7.5 price mark.
Is EOS A Good Investment?
The EOS project has been tipped as a game-changer in the crypto market since its debut in 2018. Although it has not gotten to the height of projects like Ethereum due to less popularity, it is doing pretty well in the market. With a wide range of changes that could occur in the market, one might term $EOS a good investment. This is because it solves the basic problems that most blockchains are still dealing with in today’s market.
You should know that there has been some internal fracas in the EOS developer community for quite a while now. The issue was related to the governing of the platform. There was also another news that claimed that some of the founders had created another subsidiary of the company. The company named Bullish Global was responsible for a sharp rise in the token. Some weeks later, the token fell flat, putting a lot of doubts in the hearts of traders of the tokens. Despite these issues, the token has continued to fare well, making a steady climb in the market.
Where Can I Buy EOS?
Although EOS has its platform where traders can produce blocks of the token, some platforms and exchanges have the digital assets on sale. Traders who cannot go through the technicalities of producing their blocks can buy from the exchanges. Below are some of the exchanges where you can purchase $EOS tokens;
Steps To Buy EOS on Binance
Binance provides one of the easiest ways to purchase digital assets across the crypto market. Purchasing EOS on Binance is also easy if you follow these carefully laid out guidelines below;
Step 1 – Log In/Sign Up
The first step requires you to either sign up for a new account if you don’t own one or log in to your account on the platform. To sign up, you will need to fulfill certain requirements like submitting vital details to be eligible to move to the next step.
Step 2- Fund Your Account
After you finish with the first step, you will need to find your account to be able to purchase the EOS token. Binance provides traders with a wide range of ways to fund their accounts across locations. However, traders can use the peer-to-peer payment system, the credit card, or deposit bitcoin from an external wallet.
Step 3- Buy Your Token
This is the final lap where you open an order for the amount of token that you want to purchase. You will need to open an order for the actual purchase you intend to make. Once the price range falls into the range of your order, the token Will automatically be in your wallet. If you want to keep your tokens safer, you can use offline wallets like KeepKey and Ledger wallets.
Conclusion
Without a doubt, the EOS project is one of the most exciting in the crypto market. This is due to the many issues that it solves across the market. However, traders must note that it takes great sacrifice to trade a token. You should only buy digital assets with your spare cash as the market might change anytime. It is also advisable that you diversify your portfolio if the crypto market experiences a downturn in price movements.
