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The following guest post is courtesy of Blockchain advisor Osher Deri.
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EOS has succeeded in taking a position among the fastest-growing cryptocurrencies in the market – it now sits in fifth position by market cap behind Bitcoin Ethereum, Ripple and Bitcoin Cash. From an underdog position with lofty ambitions to challenge Ethereum, EOS has built a strong vibrant community that can’t seem to wait for its mainnet to be live by June 1.
If you’ve taken the time to review the performance of EOS cryptocurrency; you’ll observe that the token has booked incredible 107% year-to-date gains – and it hasn’t even completed its ICO. Between July 1 2017 when the EOS ICO started at $1.03 and to-date, the token has booked an incredible 1,647% price gain. This article examines four interesting reasons EOS remains a smart cryptocurrency investment with more upside potential ahead.
A team with a pedigree
One of the main factors driving the growth of EOS is the fact that it is being spearheaded by a visionary team that have a proven track record of taking prior projects from ideation to execution. For instance, EOS CEO Brendan Blumer started selling virtual assets while he was 15 years old, he founded ii5 and okay.com. He has been actively involved in the blockchain industry over the past 4 years and he has been found on Forbes Cypto Rich List. CTO Dan Larimer is an experienced blockchain enthusiast who had built BitShares, Steemit, and Graphene. Larimar is also one of the vocal advocates of the Decentralized Autonomous Organization (DAO) and Proof of Stake Governance.
Incredible funding record
EOS is one of the blockchain projects with the strongest funding records even before it started its crowdfunding ICO project. The block.one team, one of the founder partners behind EOS has committed $1B to funds that will be used to further the development the EOS ecosystem. In addition, the fund is managed by a team of seasons VC firms in different parts of the world such to draw in local investors from different parts of the world into the EOS project.
A strong vibrant community
Cryptocurrency projects are built around vibrant communities and the depth of commitment from the community is often instrumental in the success/failure of a blockchain project. EOS has strong global community of block producers who are pushing for the global adoption of its platform. The firm is promoting series of EOS hackatons with prices of $1.5 across 4 events, such events will in turn incentivize the growth of the EOS community. Outside its core development community, EOS has more than 43,000 users in its chat group, more than 47,000 user on its subreddit and it has more than 131,000 active followers on Twitter.
Unique technical features
Another important reason EOS seems to be very attractive to cryptocurrency investors is the superiority of its technical features to other rival cryptocurrencies in the market. To begin with, EOS is promising an unprecedented level of scalability that is currently lacking in the smart contracts and DApps ecosystem. EOS claims that it could potentially process millions of transactions per second while at the same time ensuring inter-block communication. EOS also claims that it can be separating authentication from authentication. EOS also promises to remove transaction fees to give EOS superior marketability over Ethereum and other players in the smart contract space.