As a competitive blockchain project, EOS has long been touted as having the capacity to one day overtake Ethereum – dubbed the “Ethereum killer.”
EOS facilitates both horizontal and vertical scaling of dApps. After running an ICO for a year and netting $4 billion in funding, EOS embarked on an aggressive journey to become one of the most recognized blockchain projects.
Along with the technical developments, EOS has also done relatively well in the crypto market in terms of price. Going by that, what chances does this crypto have of achieving a value appreciation of around 265% within the year? With such a jump, EOS would be trading at $15 by end of 2019.
Supporting Factors
EOS has scored a good partnership with Tapatalk, a mobile app with over 300 million users. With this partnership, these users will be part of EOS’s user base within the Gold Point Reward System running on the EOS blockchain.
EOS has also partnered with WachChain to improve its interoperability with other blockchain systems like Ethereum.
Besides the partnerships, EOS got a boost from the Weiss Crypto Ratings Agency that gave its Technology/Adoption a Grade A rating.
In this rating, EOS came second behind Ripple, with Bitcoin taking the 3rd position. There’s also the expected impact of a big announcement scheduled for June. Whatever it is, it could very positively influence the crypto’s market standing.
Hurdles
EOS’s journey to success is not without some hurdles to be dealt with. For one, there have been reports that the Block Producers on the EOS network have been helping each other secure votes to remain in power. That kind of conspiracy could have negative impact to the crypto if proven true.
Secondly, the fact that Block Producers have the power to reverse transactions on the EOS network raises issues of centralization. In fact, there have been some instances where this has happened.
Final Take
The current market situation indicates that the pending announcement, coupled with the ongoing partnerships, could propel EOS to achieve the 265% growth this year. However, the network still needs to make updates to the operating constitution to stem the growing fears of centralization.
