EOS vs Ethereum. Will the Price of EOS Rise in 2022?
Because cryptocurrencies are very speculative, investing in them can be exceedingly dangerous. Bitcoin (BTC) has become less dangerous and volatile over time as a result of widespread adoption by large institutions and enterprises. Bitcoin benefits from regulatory support, brand awareness, and other advantages as the clear industry leader and first-mover.
Moving down the cryptocurrency asset list, alternatives to Bitcoin have clear potential and have proven successful for early investors. Ethereum (ETH) and EOS (EOS) are two altcoins that offer advantages over Bitcoin and are among the most popular cryptocurrencies today. These blockchain “supercomputers” can run decentralized applications (Dapps) and power the next generation of a decentralized internet.
Which Crypto Token Should You Invest In Ethereum or EOS?
Ethereum debuted years before EOS and is now the second most valuable cryptocurrency in the world, trailing only Bitcoin in terms of market capitalization. However, unlike Bitcoin, Ethereum may not have the same lasting power, and other competitors in the market all want to beat the cryptocurrency.
EOS, for example, has been branded an “Ethereum killer” and provides enterprise-level scaling, whereas Ethereum struggles with difficulties such as speed and scaling, resulting in high transaction prices as a result of the explosion of DeFi.
Can EOS, however, dethrone Ethereum as the top-ranked altcoin and most dominating blockchain on which DeFi and other Dapps are built? The potential is undeniable, but both assets, as discussed below, have current constraints. Continue reading this comprehensive guide to discovering everything there is to know about the two biggest cryptos, EOS and Ethereum.
What is Ethereum?
Ethereum was founded in 2015 by Vitalik Buterin, a young Canadian-Russian programmer. It is a blockchain network that enables people to transfer and receive funds without the involvement of a third party, such as a bank.
The Ethereum project was the first blockchain system to implement smart contract technology, which allows strangers to agree on a trust-free environment. The system is based on pre-defined conditions, and once these are met, the smart contract can immediately release funds without the assistance of an intermediary.
What is EOS?
EOS is one of some Ethereum alternatives. It is a new blockchain project that can also handle smart contracts. Block. One, a Cayman Islands-based firm, first launched the initiative in 2017.
Daniel Larimer, who founded the extremely successful projects BitShares and Steem, is the project’s principal developer. Other ventures by Larimer have been so successful that they are now worth billions of dollars!
EOS just made history by raising more than $2.5 billion in investment during its one-year initial coin offering (ICO). This makes it one of the largest ICOs ever! EOS, like Ethereum, has a coin that can be used to transmit and receive funds from wallet to wallet.
EOS’s ultimate goal is to be the world’s quickest, cheapest, and most scalable smart contract blockchain. As a result, it aspires to capture a sizable portion of the Ethereum market.
The EOS blockchain is similarly decentralized, which means it is not controlled by a single individual or entity. Transactions are verified by the community in the same way as Ethereum is.
EOS tokens, on the other hand, were originally constructed on top of the Ethereum network, making them ERC-20 tokens. However, following the June 2018 Main-Net launch, the team began exchanging these for actual EOS currencies, which are now backed by the EOS blockchain.
How Does Ethereum 2.0 Solve Scalability And Other Issues?
Ethereum is the most popular smart contract platform, and it is one in which the majority of regularly used DeFi apps are developed. The majority of altcoins on the market are built on Ethereum as ERC-20 tokens, demonstrating how important the blockchain has become to the whole crypto industry.
The existence of Ethereum killers such as EOS is due to both natural competition and the fact that Ethereum has significant flaws, particularly in terms of scalability.
Despite being the most powerful asset, the Ethereum network is now extremely congested. As a result, ETH gas fees have skyrocketed to the point of becoming unsustainable. This has created a need for any form of remedy, and several are currently available. It has forced stable coins to migrate to other blockchain protocols rather than Ethereum, and DeFi apps may follow suit soon. Ethereum developers are working swiftly to address these vulnerabilities with the Ethereum 2.0 Serenity update, but it may be too late if EOS resumes its momentum.
EOS vs Ethereum: What Is The Difference Between Ethereum and EOS
There are many differences between EOS and Ethereum, but there are also some similarities as well. In the following sections, we’re going to break down what they are and what the pros and cons are to each side of the coin.
Concepts and Creation
Vitalik Buterin invented Ethereum. Surprisingly, the present Ethereum blockchain is not the original Ethereum blockchain. The original Ethereum is now known as Ethereum Classic (ETC), while Ethereum (ETH) is the principal blockchain supported by the development community.
The split was caused by a hack involving one of the first decentralized organizations, known as the DAO. Serenity, Ethereum’s Serenity upgrade, will be released soon, assisting in the resolution of scalability issues with ETH 2.0.
EOS, on the other hand, was born as an ERC20 token on the Ethereum blockchain, much like thousands of other altcoins in the crypto market. It eventually established its manner and abandoned the Ethereum protocol.
EOS was established by Block. One, which was led by Dan Larimer. EOS coins were among the most successful ICOs in history, raising billions of dollars through the once-popular method of crowdfunding.
Polkadot and other currencies are being positioned as Ethereum killers in the same way that EOS is. However, EOS has the best possibility of success, which is why it is one of the coins backed by PrimeXBT, along with Bitcoin and Litecoin.
Will the Price of EOS Rise in 2022
Yes, absolutely. Because the cryptocurrency is only a few years old, its performance and future outcomes may be highly positive, say for at least the next five years, with a time high delivering value to investors and hitting a high. EOS is expected to achieve an average price of $3.85 this year, with a maximum price of $4.8 around 2023, and a projected price of $6.01 in 2026. Before investing in EOS or other virtual currency, retail investors should perform technical indicator calculations using the most recent prices to prevent significant risk following market projections for the next five years.
Is EOS a good investment?
Market EOS forecasts support the EOS coins’ long-term profit potential. The estimated maximum price will be $4 by 2022, with EOS tokens trading above $5.2 in 2025. Given the token’s prior success, it could be an outstanding pick for a decent investment.
Why is EOS rising?
Because of the transaction speed, acceptance of credit cards, and speedy authentication, the EOS market has acquired a lot of traction and will continue to enjoy a time high.
What Will EOS crypto price be worth in 2030?
According to long-term EOS cryptocurrency price projections, the minimum price in 2030 is predicted to be around $79, which is +2356 percent of the current price. The positive trend of the EOS price shows that EOS is worth at least $92. Our EOS price prediction is based on expert forecasts and should not be construed as investment advice. To avoid losing money quickly, investors are encouraged to conduct their research before adding EOS to their investment portfolio.