Cryptocurrency is booming, a fact we are breathing daily. If you wish to invest in cryptocurrency, there are different options to invest in this year. While Bitcoin, Ethereum, Dogecoin are the most popular ones in the crypto market, other cryptocurrencies like EOS are secretly growing. Why should one invest in EOS in 2021?
EOS is racing up and trying to make a place amongst the best cryptocurrencies to buy, especially since 2020. Let's know more about it and why one should invest in EOS, right now!
EOS coin is a decentralized system infrastructure based on blockchain that empowers hosting, development and deployment of commercial decentralized applications (dApps) on its platform.
Unlike other blockchain-based networks such as Ethereum, EOS prioritizes crucial drawbacks of blockchain and tries to solve the challenges of scalability, scale, and flexibility.
EOS does not work on the mining concept. Instead, only block producers produce blocks and are rewarded the newly created EOS tokens for every block produced.
The dAPPs market size is growing each day. Hence, one main challenge is the limited availability of resources on the network. Issues of network constraints are faced because of increasing false transactions, spamming apps, limited computing power, slow execution speeds, etc.
Dubbed as the "Ethereum Killer", EOS can process 100,000 transactions per second. EOS's unique mechanism is trying to solve these issues by providing more usability, flexibility and scalability. EOS cryptocurrency is known for bolstering usability without any performance issues using parallel execution and asynchronous communication technique across the network.
The flexibility offered by EOS is facilitated through its various features. Its ownership structure is such that empowers users to use it freely. Hence, users have to pay less transaction costs as developers can use resources as and when needed, unlike the mainstream pay-per-transaction model. Moreover, developers can anticipate hosting costs.
Its flexibility, scalability and user-friendly attributes are attracting a lot of investors. It gained a lot of attention during its initial release. However, the EOS team is constantly working to deliver more innovativeness on the platform.
In a fast-paced world, the concept of faster blockchain offered by EOS is something that is luring a lot of people.
In 2020, the EOS price jumped from US$2.43 per token to a high of US$3.47 per token. In May 2021, it reached an all-time high of US$12.95. Though after the market turmoil, it came down to US$4.26.
Considering a strong price potential and its benefits, experts believe that in the long-term EOS will grow a lot. Moreover, they are even predicting that the price can go up to US$30 by the end of 2021 or in 2022.
The current price of EOS is US$4.2 with a market cap of US$4.03B and a trading volume of US$275,360.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.