There is a lot of speculation going on in the cryptocurrency market the last few weeks. New coins are being funded through ICOs on the Ethereum network. These ICO funding campaigns are part of the reason the Ethereum price has exploded in recent times. However the price is starting to crash as people are pulling their money out of Ethereum and placing them into these new ICO coins. I still think Ethereum has strong future ahead, but we me still see some big drop offs in the price. A new coin was just announced by Dan Larimer called EOS. EOS coin will be a competitor to Ethereum and is going to solve a lot of the shortcomings of Ethereum.

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The Founder

EOS's back-end is going to be similar to Dan's other companies like Steemit and Bitshares. The reason I believe in EOS is because Dan Larimer already has proven his technology with Steemit. Steemit produces more transactions per second than Bitcoin and Ethereum. EOS will run Delegated Proof of Stake which is how Steemit works today. Instead of having complex computer rigs solving puzzles and wasting all the resources, EOS will instead have people stake their EOS tokens, become block producers and confirm the transactions. Block producers can be voted out by the users if they are being unfair. Also, the EOS system will not charge any fees to use it.

More money more problems

One of the main problems with Ethereum are the micropayments they force users to pay. The fees can end up becoming too expensive if the price Ethereum continues to go up. Having end users pay fees to load a website just isn't a viable solution. EOS allows no fees and only requires the EOS token to be held for however many resources you need. The price of the token has no interference with how many resources you are granted from the network.

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Visions

Dan Larimer's goal is to allow other entrepreneurs create great apps similar to Steemit in the easiest and quickest way possible. Ethereum has a lot of momentum, but do you know anyone who has actually used an Ethereum app. It's too slow, it's almost as if we are going backwards with technology. EOS is set to solve these issues and make millions of users to join a blockchain without even knowing they are on the blockchain. The app builders will host their HTML, CSS on their own server, but all the resources to run the blockchain and store the data will be held within the EOS system. App builder's will pay for the resources by holding their EOS tokens in the system. The price for resources will never increase, because the price of the token is not related. If a user owns 1% of all EOS tokens, they own 1% of the EOS resources.

New approach

The EOS ICO occuring on Ethereum is interesting and is being done differently than other ICOs in the past. The ICO will continue over a year long period until 1 billion EOS tokens are created. Each release of tokens will be done on a schedule. The first 20,000,000 coins have been produced and each period an additional 2,000,000 coins will be produced. The creators of EOS want to be able to distribute their tokens to as many people as possible. Some believe that because of the way the ICO is being done, it may be better to purchase EOS later down the line as the price becomes more inflated. I decided not to wait and ended up grabbing 100 tokens for now on the Bitfinex exchange. I like buying random coins and just holding them. I don't move my money around in cryptocurrencies and I'm not a day trader. When I get extra money I just place some of it in coins I like. I try to own as many cyptocurrencies as possible. I'm not sure if this is the best strategy, but I just assume if one blows up I'll make my money back on the rest.

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Down trend

Right now cryptocurrencies are in a down cycle, but I made great returns on the uptrend. I hoping we don't see them go down too low because I don't sell my coins, I'm a long term investor. I believe cryptocurrencies are the future of the internet and how our economy works. I'm not a professional investor, so only invest money you can afford to lose. I like being an early adapter to new coins, because I believe they have the most potential. I still think it's important to hold Bitcoin and Ethereum too, but once you get that start investing in the cheaper coins. Any of these coins can increase in value over night.

What's to come

Looking forward to the future of EOS and I'm going to follow it closely. Since Dan Larimer has proven technology and big investors behind him, I believe EOS is real and not just another pump and dump scheme. Information within cryptocurrency changes on a daily basis and you really need to keep up with the new trends. But, that isn't just with cryptocurrency, it's with technology in general. Always be one step ahead of the mainstream media. The mainstream is the last to tell you anything of value. Find the alternative news outlets you like and get information first.

Thanks for reading. Please Up-vote, Resteem, Comment, and Follow.

Sincerely Yours,

@johnnyyash