The EOS blockchain has been designed to support multiple decentralized applications or dApps and offers all the core functionality. Thus with the help of the EOS blockchain, businesses can develop different blockchain applications just as they develop web-based applications.
LWRC to do EOS Block Production
The online gaming technology section of Leisure & Resorts World Corp. (LWRC) has revealed that they are going to the first block producer of EOS in the Philippines. The features of the EOS platform and its popularity as one of the most traded cryptocurrencies had attracted LWRC. “We chose EOS because the design, technology, and governance of EOS are superior to the other cryptocurrency and address many of the issues the community sees with bitcoin and ethereum,” Gonzales said in an interview. Gonzales feels that EOS has the capacity of conducting over a million transactions per second whereas many other cryptocurrencies are limited within 20,000 per second. Moreover, the EOS system consumes less energy.
In fact, EOS had been developed to be a ‘stable’ cryptocurrency with just a 5% inflation. This means that compared to the other cryptocurrencies, the market of EOS will experience less volatility that will facilitate transactions.
The team of LR Data Center & Solutions Inc. (LR Data) has over a decade experience of working as an international gaming infrastructure operator with Cagayan Economic Zone Authority or Ceza. The objective behind the online gaming technology branch of LRWC to conduct mass block production of EOS is to support the global network and framework of EOS. LR Data, it seems to be is emphasizing that EOS will become a true “retail blockchain.”
As per the words of Enrique Gonzales, LR Data vice chair, “With the launch of EOS Philippines, LR Data is at the forefront of infrastructure provisioning and supporting decentralization and democratization. Financial technology and blockchain are going to be a pillar of our business model moving forward.”
The future disruptive applications may as well use EOS technology. So, in the opinion of Javier Benitez, community head of EOS, this partnership with LWRC and positioning themselves in the Philippines will eventually benefit them.
Reasons to List EOS on Coinbase
- The upcoming EOSIO Main Net: EOS is also eagerly awaiting the release of its mainnet, EOSIO like Tron. It is slated to be released on 1st June 2018. The EOSIO Main Net will enable the developers and entrepreneurs to build their own blockchain and they will even be able to “fork (the) repository and customize it for their own use.” Once the EOS mainnet has been launched one can only expect the market price of the crypto coin to see a bull run.
- Confirmation of enterprise application: Even before the launch of EOSIO, Synacor had revealed on 15th May 2018 that it is going to be the first to develop its new email and collaboration platform, Zimbra X on the mainnet of EOS. Synacor’s present platform, Zimbra boasts having over 500 million users and renowned clients such as Amnesty International. In the opinion of the Senior Vice President of Platform Products of Synacor, EOSIO will enable “mainstream consumer products to leverage blockchain capabilities.” Erynn Peterson continues to say that they have many expectations from EOSIO as a leading blockchain operating system. This will encourage many enterprises to follow suit.
- EOS ranks 5thon coinmarketcap.com:According to coinmarketcap.com, EOS has taken over the 5thposition with a market cap (at the time of writing) of approximately $10,064,808,784 USD. Therefore, if Coinbase is looking for new crypto coins to add to their list, it must go for EOS. Moreover, the current circulating supply of EOS is over 870 million. The price of EOS at the time of writing shows $11.53 USD approximately and the volume (24h) is nearly $1,298,020,000 USD. Adding EOS that has high volume to the list of cryptocurrencies on Coinbase is more likely to increase the trading volume and thus profits.
- EOS may even outperform Ethereum: The features of EOSIO may even attract more developers and entrepreneurs than the Ethereum platform and it also has the capability to handle more commercial-scale decentralized applications. Graphene technology forms the base of the EOS Main Net and can perform 10,000 to 100,000 transactions per second. In order to avoid scaling issues, the platform will use parallelization to increase the number of transactions conducted per second.
One of the main issues of most of the blockchain projects is currently scalability. Ethereum, EOS, Zilliqa and many other platforms are trying to overcome scalability be it through sharding or technologies like Graphene. The price action of EOS will hopefully experience an uptrend if the proposed scalability solution proves to be profitable. Moreover, the news of EOSIO Main Net launch and LWRC doing block production will have some positive effects on the market.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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