Following President Xi’s recent roaring endorsement of blockchain technology, cryptocurrency news has been practically flowing out of China. Recently, the Ministry of Industry and Information released its assessment of the top cryptocurrency projects in the world - with EOS taking the number one spot. That means that EOS is recognized as the top blockchain by esteemed research analysts, and it could have an impact on the crypto asset industry at large.
What is EOS?
EOS was announced by Block.One in 2017, and launched as open-source software in June 2018. EOS is the native cryptocurrency of the EOS blockchain, which achieves greater scalability than both Ethereum and Bitcoin, thanks to it’s delegated proof-of-stake (DPoS) consensus algorithm. According to eToro.com, DPos “...is a consensus algorithm that works to maintain irrefutable agreements across a blockchain, validate transactions, and acts as a digital democratic system.”
The DPoS algorithm allows EOS to process transactions much faster than other blockchains (like Etheruem and Bitcoin) because there are only 21 block producing nodes, voted in by the EOS token holders. The network only needs to reach consensus between 21 nodes to produce a block.
EOS is ideal for dApp (decentralized application) development, thanks to the scalability of the blockchain. EOS currently ranks seventh on the list of cryptocurrencies, based on market cap. The project has a market cap of $3,251,468,225 at the time of writing.
EOS was recognized as the top blockchain by esteemed research analysts, based on its “basic tech, applicability, and creativity.”
EOS has four distinctive features:
The list
Let’s take a look at the Ministry of Industry and Information’s Top Blockchain rankings:
Unusually, Bitcoin doesn’t even crack the top ten on the Ministry of Industry and Information’s list. This is likely because the government considers BTC to be competition to the Yuan.
Contrastingly EOS retained its first place position, having secured its place at the top for quite some time now. TRON bumped Ethereum down to third position, taking its spot as the runner up. Lisk and QTUM experienced huge bumps, moving up seven and ten positions respectively. If this report is anything to go by, it’s time to seriously consider investing in EOS before you miss out. CFD trading on a platform like eToro can give you great insight into the rise and falls of the crypto asset markets, while earning a solid ROI.
https://twitter.com/NuggetsNewsAU/status/1188679894730829824?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1188679894730829824&ref_url=https%3A%2F%2Fbeincrypto.com%2Feos-and-tron-top-chinas-blockchain-project-rankings%2F
What this means
Since President Xi’s endorsement of blockchain technology, Chinese cryptocurrencies have been on the rise. EOS has risen by up to 15% in recent weeks, and TRON also rose by 38%. Now that EOS was recognized as the top blockchain by esteemed research analysts, it’s likely that investors will pay even more attention to the EOS blockchain. One thing’s for sure, the crypto asset industry is booming in China, and it’s not going anywhere.
https://nakamotonews.network/eos-recognized-as-the-top-blockchain-by-esteemed-research-analysts/
What is EOS?
EOS was announced by Block.One in 2017, and launched as open-source software in June 2018. EOS is the native cryptocurrency of the EOS blockchain, which achieves greater scalability than both Ethereum and Bitcoin, thanks to it’s delegated proof-of-stake (DPoS) consensus algorithm. According to eToro.com, DPos “...is a consensus algorithm that works to maintain irrefutable agreements across a blockchain, validate transactions, and acts as a digital democratic system.”
The DPoS algorithm allows EOS to process transactions much faster than other blockchains (like Etheruem and Bitcoin) because there are only 21 block producing nodes, voted in by the EOS token holders. The network only needs to reach consensus between 21 nodes to produce a block.
EOS is ideal for dApp (decentralized application) development, thanks to the scalability of the blockchain. EOS currently ranks seventh on the list of cryptocurrencies, based on market cap. The project has a market cap of $3,251,468,225 at the time of writing.
EOS was recognized as the top blockchain by esteemed research analysts, based on its “basic tech, applicability, and creativity.”
EOS has four distinctive features:
- Fast transactions: It takes about half a second to confirm a transaction on the EOS blockchain, and around 2 minutes to finalize it.
- Transfer Fees: There are no transfer fees on the EOS blockchain, since there are no mining fees.
- EOS only: EOS is the only token on the network that dApp developers can use to obtain the resources they need to run their projects.
- Governance: EOS tokens play a massive role in the governance of the blockchain. Only EOS holders can vote for block producers.
The list
Let’s take a look at the Ministry of Industry and Information’s Top Blockchain rankings:
- EOS
- TRON
- Ethereum
- NULS
- BitShares
- STEEM
- Lisk
- QTUM
- NEO
- XLM
- Bitcoin
Unusually, Bitcoin doesn’t even crack the top ten on the Ministry of Industry and Information’s list. This is likely because the government considers BTC to be competition to the Yuan.
Contrastingly EOS retained its first place position, having secured its place at the top for quite some time now. TRON bumped Ethereum down to third position, taking its spot as the runner up. Lisk and QTUM experienced huge bumps, moving up seven and ten positions respectively. If this report is anything to go by, it’s time to seriously consider investing in EOS before you miss out. CFD trading on a platform like eToro can give you great insight into the rise and falls of the crypto asset markets, while earning a solid ROI.
https://twitter.com/NuggetsNewsAU/status/1188679894730829824?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1188679894730829824&ref_url=https%3A%2F%2Fbeincrypto.com%2Feos-and-tron-top-chinas-blockchain-project-rankings%2F
What this means
Since President Xi’s endorsement of blockchain technology, Chinese cryptocurrencies have been on the rise. EOS has risen by up to 15% in recent weeks, and TRON also rose by 38%. Now that EOS was recognized as the top blockchain by esteemed research analysts, it’s likely that investors will pay even more attention to the EOS blockchain. One thing’s for sure, the crypto asset industry is booming in China, and it’s not going anywhere.
https://nakamotonews.network/eos-recognized-as-the-top-blockchain-by-esteemed-research-analysts/
