EOS is a decentralized and blockchain-based platform that’s used to host and run business applications.
It’s also used to run exchanges in the EOS cryptocurrency tokens, also known as the EOS crypto. These are the payment systems for the EOS network. There are many different types of cryptocurrency, but EOS stands out for a number of reasons.
That’s why we’ve put together this look at EOS crypto news, to keep you abreast of EOS crypto price and general information. Keep reading to learn more.
How It All Works
In general, we can envision the EOS ecosystem as an interplay between its main elements: the EOS.IO software and the EOS crypto that’s used as a payment system.
EOS.IO is akin to a computer’s operating system, or the operating system on your smartphone. This is how the blockchain runs, and it hosts various decentralized applications or DApps.
DApps are protocols that are specially designed to operate on blockchain networks. Due to their nature, decentralized applications can function without the centralized support needed by earlier iterations.
So the EOS.IO is a system that allows for security, authentication, data hosting, and encrypted communication between the internet and DApps. Best of all, the EOS ecosystem maintains a well-stocked toolkit to allow for the easy development of apps.
The EOS crypto, the cryptocurrency token that runs on EOS.IO, is what greases the economic wheels of this electronic infrastructure.
EOS Crypto News
EOS has made headlines in recent years—and often not in the most ideal ways.
Much of this has to do with issues of governance of the blockchain. For instance, one of the small companies that contributed to the early growth and formation of EOS stepped away from the blockchain network in 2019.
What prompted this was concerns that the network had come under the domination of foreign governments—specifically China. It turns out that the so-called “whales,” or those with the largest EOS crypto token holdings, were supporting block producers in China.
And this means there’s a real fear that EOS has fallen under the state domination of the People’s Republic of China, despite assurances to the contrary.
Nevertheless, in May 2021, EOS stocks doubled in price upon news of the creation of Bullish Global. This is a subsidiary spun off by Block.one, which is the company responsible for the development of the EOS.IO software.
Bullish Global is quite the venture, intending to generate yet another blockchain-based crypto system. Among its investors include such luminaries as Peter Thiel and Mike Novogratz and institutions like Galaxy Digital and Nomura.
As of August 20, 2021, EOS is valued at $5.36. Most forecasters expect at least a modest increase in price by mid-decade, with some predicting a value of around $50 and even $160 by 2025.
Stay Up to Date on EOS News
Keep your eye on EOS crypto news, because there’s much more to expect from this interesting blockchain system and crypto token.
And while you’re here, check out the rest of our site for more Tech and Crypto news. We’ve got tons of great articles for all your needs!