What is going on with EOS !!
Whats up guys, today i want to talk about EOS, and why the hell its getting all this hype.
For those of you not familiar with EOS it is software that introduces a blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications (the “EOS.IO Software”). This is achieved through an operating system-like construct upon which applications can be built. The software provides accounts, authentication, databases, asynchronous communication and the scheduling of applications across multiple CPU cores and/or clusters. The resulting technology is a blockchain architecture that has the potential to scale to millions of transactions per second, eliminates user fees and allows for quick and easy deployment of decentralized applications.
With all this going on its no wonder people are quick to joke that E.O.S stands for Etherium On Steroids, and its worthy of all the excitement around it. But is it worth billions of dollars ? after all this just an 'idear' at the moment and is along way from being market ready.
Currently with the price at the time or writing around $2.40 and a market cap of $477million this is already huge for a company that is as young as EOS is.
Things however seem to get more concerning when we look at token production over the next year when the supply will reach 1 billion tokens meaning that if the price remains unchanged the market cap total will be around $2.4billion.
Of course people are poring money into EOS and i've seen countless videos and posts from trades predicting this to be an easy 3 figure coin in the next few years. Now i just want to get one thing straight, i think that ESO offers great potential and i wouldn't be surprised if it was very successful given the devs behind it but i think the people throwing money at it expecting some monstrous return are frankly deluded !
Lets think about this for a second, say that the price does get the the 3 figures and hits $240 per EOS giving you a very nice 100x return, look at what happens to the market cap which is now a staggering $240billion or 2.4x larger than the current total market cap of all coins or 5.8x bigger than Bitcoin !
Personally i don't see this happening any time soon and think there are far better things out there to put your money in .
Let me know what you guys think about EOS..
