As DApps Rise, The EOS Ecosystem Keeps Expanding But Price Still Sliding

A Block.one tweet recently has revealed that the EOS ecosystem is expanding as number of blockchain companies utilizing the EOS public blockchain for their projects increases.

Block.one posted a graphic revealing several projects from different niches which includes, Data Services, Identity, Voting & Governance, Healthcare & Fitness, Privacy & Security, and Communication that has been added by the EOS blockchain to its ecosystem since its launch.

EOS Price Today – EOS / USD

Name Price24H (%)
Bitcoin (BTC)
$10,306.00
0.56%
EOS (EOS)
$3.69
3.26%

Both EOS and Ethereum are known for hosting Decentralized Applications. After Bitcoin, Ethereum is the second most popular blockchain network and cryptocurrency. In July 2015, its blockchain went live, and according to figures on Etherscan, by May 2018 it had 35 million unique addresses, and by the close of 2018, 2,000 dApps is expected to be powered by the smart contracts platform.

EOS is a relatively new blockchain protocol in the crypto-sphere. It started its ICO in June 2017, went on for a year and ended in June 2018. Without a live product, its ICO raised over $4 billion which has made it the most successful ICO till date. Well-known names who have invested in the platform includes Alan Howard, Bitmain, Peter Thiel, Louis Bacon, and Mike Novogratz’s Galaxy Digital have invested in the platform.

One of the strong points of EOS is scalability. The team claims that inter-blockchain communication is allowed on the platform as well as support thousands of commercial-scale dApps. To verify transactions, the blockchain utilizes Delegated Proof of Stake (DPoS) protocol which helps it compute per second, millions of transactions. The platform is also flexible, which enables it to “Freeze and Fix Broken Applications”. The platform doesn’t require any fees for transaction, but new accounts need to pay for RAM.

According to StateOfTheDApps, the top 5 EOS dApps according to Daily Active Users are BetDice, PRA Candy Box, EOS Knights, EOS Lucky Games, and EOSBetDice. BetDice and EOSBetDice are betting platforms, while EOS Lucky Games is a collection of EOS-powered gambling games. EOS Knights is a mobile game based on EOS where players protects a village from goblins. PRA Candy Box claims to be the largest bounty offering platform in the world where users finish up certain tasks and in return, gets free access to several digital coins.

On 20th September, Circle (Goldman Sachs-backed cryptocurrency infrastructure), announced that in addition to three other crypto assets, it will be adding EOS to its platform “Invest”. With this addition, the EOS can be purchased individually on the platform, or as a part of Circle’s “Buy the Market” feature, which is aimed at helping investors get exposed to a diversified cryptocurrency portfolio that features the different tokens listed on the platform.

The Block.one team recently announced that the scalability issues of the EOS platform has been solved, which will make it the world’s most scalable and highest performing blockchain platform.
However, none of this has affected positively the immediate EOS price since it is currently down 3.5% from its weekly high, down 12% from its level last month, and about 40% down over the last 3 months.

 

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