🎓 Trading Guide Andrew Strogoff

EOS Trading for Beginners: How to Trade EOS Profitable

Trading Guide
EOS trading, how to find best entry points, comparing EOS with Ethereum
EOS Trading for Beginners: How to Trade EOS Profitable

Trading cryptocurrencies is not as easy as it may seem. However, those who have appropriate knowledge are able to invest in cryptos profitably. In this EOS Trading Guide for Beginners we are going to provide you with necessary information about the project, coin and its specifics. We are also going to compare EOS with its closest competitor – Ethereum.

EOS is a blockchain platform for dApps. The idea behind this system is to provide users with best known practices allowing businesses and private persons to benefit from high level of security and computing support.

One of the main advantages of this platform is that it will allow users to conduct thousands transactions per second. This level of scalability is out of range for Bitcoin and even Ethereum nowadays. The aim of the team is to create a complete operating system for decentralized applications giving the opportunity to user to benefit from high level of security, server hosting and cloud storage.

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EOS trading. The main features of the project

Before an investor or trader puts his or her money into this coin, it is necessary to learn the main features of this system.

One of the main specifics of this network is its high security level. All users accounts have different permission levels. There were several updates of the system allowing users to store their data off the blockchain. There are also some features helping EOS clients to restore access to their compromised and recover stolen accounts.

Another great feature of EOS is its scalability performance. There is no doubt that future of cryptocurrencies as payment method depends not only on security of data transfer, but also on how fast the transaction may be executed. Bitcoin and Ethereum use PoW consensus method, which is criticized by the crypto community nowadays.

EOS uses another method, which focuses on transaction instead of the state of the whole system. This allow to significantly increase the speed of message exchange within the network up to one million per second.

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EOS team and coins

Before trading EOS or investing in this coin, one need to learn more information about the project’s team. The system is created by Block One company, led by Dan Larimer. This person is famous in crypto industry as he was founder of Bitshares and Steemit.

As for EOS coins they are listed on most of major trading places and have medium liquidity level as compared to other cryptos. EOS is on the fifth place in the list of market capitalization according to coinmarketcap in the moment of writing.

Comparing EOS and Ethereum

EOS vs Ethereum

Once you have decided to trade EOS or hodl it, you need to know the closest competitor of this project. EOS is designed to create dApps and smart contracts meaning its rival is Ethereum.

Despite all the similarities that EOS have with Ethereum, those projects are not the same and this information is important for traders and investors in order to understand whether to put money in EOS or not.

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Target audience

Many investors think that EOS and Ethereum are the same but they have different target audience. EOS adepts think that this platform will be more decentralized as it uses Proof of Stake consensus mechanism as compared to Ethereum, which works on Proof of Work.

EOS is supposed to be the host of different decentralized applications that would high costs if run on Ethereum platform. There is no transaction fee within the EOS network.

Technical differences

EOS team aims at overcome scalability, functionality and usability issues that Ethereum has currently. To do this, developers have implemented delegated Proof of Stake protocol, which helps to eliminate the bottleneck that Ethereum network has currently. Another reason to use it is the ability to freeze the network and to fix broken applications without affecting other accounts.

EOS has chosen this DPoS mechanism to add more democracy into their network meaning no party will be able to consolidate enough coins (PoS) or computing power (PoW) to control the whole network.

Additionally, EOS team expects the system to process 1,000 operations per second and to increase this number in future up to 100,000 transactions. However, Ethereum developers also work on scalability as they seek to introduce Casper technology, an update that will help the network to be more scalable.

As you may see, there are several differences between EOS and Ethereum and it is not clear whether the first is able to “beat” the second.

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EOS trading and general fundamental analysis

Besides all the above mentioned, when predicting EOS price for trading or investing you need to pay attention to the global fundamental factors that affect all crypto industry. Those are the following:

News and events

There are some news and events that may affect the whole industry. When a country bans exchanges or ICOs, for example, this fact will negatively affect the crypto market as traders and investors will get rid of their coins looking for safer investments.

In general, all negative news have the same impact on the industry and are likely to push EOS and other coins down. As for positive news and events, they will give support to the whole industry helping coins to grow.

Let’s list the most influencing news and events that you need to pay attention to:

  1. Bans of cryptocurrencies, exchanges, ICOs in different countries.

  2. Adoption of blockchain technology, cryptocurrencies, ICOs and exchanges by governments.

  3. New technologies within blockchain industry that lead to scalability, security and other improvements.

  4. Different meetings and conferences and other events that may influence the crypto industry.

Experts opinion

EOS trading may be affected by the experts’ opinion. If there are any comments from famous persons within the crypto community, they may influence EOS price in both short and long term. Those comments may have either positive or negative impact on EOS depending on their nature.

If experts criticize cryptocurrency, this fact is likely to have negative influence on the coin and vice versa, when experts support coins, they are likely to grow.

General market players’ moods

EOS price changes due to market participants’ activities. Bulls try to drive it higher while bears push it downwards generally. Major players may have significant impact on quotes especially for cryptos with low liquidity.

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EOS takes the fifth place on capitalization as we have mentioned above. This cryptocurrency is less liquid than Bitcoin or Ethereum meaning it is more volatile and may be seriously influenced by huge players.

Cryptocurrency market has some similar traits with traditional stock and currency industries and sometimes is driven by serious players. All you need to do in this case is to forecast EOS fluctuations and follow the whales.

Strong and weak points of EOS

Before you start trading EOS, you need to know strong and weak points of this cryptocurrency. We have gathered the most interesting advantages of the project. They are the following:

Strong and weak points of EOS

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As for weak points, they are the following:

  1. EOS team is lead be Dan Larimer. He is a famous expert of Blockchain technology. However, Larimer is also known for his habit to leave one project before it is completely launched. He left Bitshares and Steemit once he met serious issues.

  2. EOS competitors. Apart from Ethereum, there are other projects like Crown, RChain that are going to release their platforms in the nearest future.

How to trade EOS

Before we make the final stop in this guide, we would like to describe step-by-step how to trade EOS:

  1. The first step to do is to choose an exchange. EOS is rather popular and offered by many trading places including the most liquid ones.

  2. Make EOS forecasting. You can use both fundamental and technical method. Pay attention to Bitcoin price as the first crypto ever affect the whole industry nowadays.

  3. Find entry points. Use a strategy to look for the best chances to open positions.

  4. Determine the appropriate risk/reward ratio. Professional traders advise this proportion to be 1/3 at least. If you are going to invest, read the latest news on EOS in order to understand whether it looks promising in long term.

  5. Use different order types in order to diversify your trading and to find best EOS trading opportunities.

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Crypto Trading Tips and Tricks: 10 Secrets to Make Your Trading Successful

💡 Cryptotips
Most beginners think that there is some edge of learning that one can reach. The truth is that studying is eternal
Crypto Trading Tips and Tricks: 10 Secrets to Make Your Trading Successful

The development of Blockchain technology, as well as the appearance of cryptocurrencies, increase the interest of traders and investors towards the opportunities to earn money. However, there is no a single easy way to gain profits.

Professional traders and investors always give obvious recommendations to novices. They sound like buying lows, selling highs and other common advice that you can hear or read somewhere. However, those recommendations are general and have almost no practical benefits.

We have gathered several useful aspects that may be helpful in your everyday trading routine. Those cryptocurrency trading tips and tricks are very important for traders and investors who want to start their career.

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Tip 1: Do not invest all your money in a single asset

Many beginners reading charts and seeing assets to jump upwards try to buy them using all their funds. This strategy seems to be reasonable as the more you invest, the more you will get as a reward after the price growths.

However, professional traders recommend sharing funds among exchange and “cold” wallet. This approach helps to decrease all types of risks including hacker attacks and dishonest exchange managers’ behavior.

In addition, when you invest your funds partially, you minimize your trading risks as well. If a crypto goes upwards and you buy it, you will be able to gain more as we have already mentioned. However, if you are wrong in forecasting price’s fluctuations, the asset will go down and you will lose money.

Another reason to have a reserve is diversification. When you invest all your funds in one single coin, you find yourself prevented from the opportunity to buy other cryptos that may also be promising.

Try to distribute your funds wisely. It is better to use up to three or five percent of the total amount to buy a single crypto when speculating. For investors those figures may be higher.

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Tip 2: Use funds that you can afford

Beginner traders who have just entered this industry and watch those charts with upside moves sometimes make crucial mistakes. They think that they may become rich in just a couple of days. Having not enough money for trading, they start to look for additional investments everywhere including banks.

This way is wrong leading to complete bankruptcy. If you lose money, borrowed from bank, you will have to work hard in order to repay the loan including the rates. The safer way is to reinvest your profits partially or to use your savings for trading.

Why is it strongly recommended to invest only the amount you can afford? There is a psychological reason for that. When you use your own money that you can lose, you will not be vulnerable to different types of emotions that can ruin your deposit. Fears of losing all money that you have borrowed from the bank or friends will affect negatively your trading results.

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Tip 3: Be ready to lose your investments

This sounds weird as you came here to win and not to lose. However, all professional traders are ready to lose their investments as they understand financial markets’ nature. When you place a trade, you have no guarantee that this order will be a profitable one. Moreover, even if you use a very strong strategy, you can lose.

Your main task as a trader to have stable growth of your trading account in long and even midterm. However, you have to be prepared to lose a battle sometimes in order to win the war. This is one of the reasons why we have recommended using a small part of your funds in a single trade.

In contrast to Forex or stock markets, crypto industry have much more risks for traders and investors including scam exchanges, hacker attacks, delisting of tokens and the others. Cryptocurrency market is volatile and coins have no underlying value meaning they may cost either $100,000 or $0 depending on demand and supply. Nobody can predict today the price of Bitcoin for several years.

Fundamental factors also matter. Depending on general situation with crypto industry and the attitude towards coins in this or that country, their price may vary significantly.

Tip 4: Diversify your investments

When “keeping all eggs in one basket” you risk to lose all your money one day. Let’s say the price of X coin is $1,000. You decide to buy 10 units investing $10,000. However, one month later, X coin’s price falls down to $500, meaning you lose half of your funds as 10 coins cost $5,000 already. Where is your mistake here?

There were also Y and Z coins that you had an opportunity to invest into sharing your funds among them. Let’s say those two cryptos have added $500 each for the same period. Following this example, you had a chance to not only protect your risks but even to make some profit.

Diversification in crypto industry means not only buying different coins. As you may know already, there are scam exchanges, hacker attacks etc. When you invest all your money into a single trading place, your risks are higher. If hackers steal money, you risk to lose even without doing a single step there.

Some crypto enthusiasts store their funds using one type of wallet (cold or hot). The first offers more security but is less flexible than the second. Those who want to find a reliable solution, store their cryptocurrency on both types of wallets benefiting from their advantages.

Let us show you a simple example. You have one Bitcoin and want to store it somewhere, but you need 10 percent from this amount to be instantly available to conduct transactions. One possible solution in this case is to store 10 percent of your total amount using a so-called hot wallet and the other 90 percent on your cold wallet offline.

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Tip 5: Analyze coins using special techniques

Professional traders often recommend buying lows and selling tops. It sounds to be easy, but when you start trading, you always have difficulties to find market bottoms and tops. There several ways to do it using technical analysis for example.

Why is it necessary to do this way? When you go shopping, you try to find the best prices looking for discount programs, bonus campaigns and other ways to minimize your expenses. When dealing with crypto trading, you have no need to compare prices in different places as the cost is on the chart already. All you need is to understand whether this price is suitable for you or not.

Let’s say a trader has bought Bitcoin for almost $20,000 in December 2017. The current price of this crypto is around $7,000-$8,000. It is evident that he has made a mistake purchasing Bitcoin at its tops. Why do many beginner traders do those mistakes? The main reason for this is lack of knowledge and some typical emotions that make them buying when the price grows.

Ask yourself, what you will do when the price goes upwards. Most newcomers will say that they will buy the crypto in this case. The mistake here is that they skip analysis procedure, which is an important step before doing anything when trading.

Tip 6: Do not follow the crowd

Most beginner traders use trollbox or other trader recommendations to buy or sell cryptos. What is the trollbox? This is a chat that you can find on most exchanges. Traders share their opinions there. However, successful traders never follow the crowd as they have their own strategy.

There are several so-called indicators that demonstrate market players’ moods. Those tools are useless as they give no market picture at all and even mislead those who look through them.

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Tip 7: Choose liquid cryptos

Most professional investors advise to use a great portion of funds to buy Bitcoin. This seems to be obvious as Bitcoin is the first Blockchain coin ever. However, this reason is not the only one. BTC is the most liquid crypto as its capitalization is $131,544 068 350 according to coinmarketcap in the moment of writing.

Why should you choose the most liquid assets to buy? The first reason is that they are less volatile and more stable as compared to other coins naturally. If we compare EUR/USD and BTC/USD for example, the first is more liquid and is less volatile as well.

However, Bitcoin is the most liquid crypto coin nowadays and this is the main reason why professional traders use it to speculate on.

The second reason to buy the most liquid coins is that there are risks of scams. When you purchase Bitcoin you are sure that you will be able to sell it to somebody later. However, when you buy X coin, which is not as liquid and as popular as Bitcoin is, your risks are higher as everything depends in this case on the project, its team, goals, roadmap, background etc.

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Tip 8: Use different timeframes

When you trade this or that coin, it is better to choose more than one timeframe to analyze it. Those who stick to one chart risk to limit their opportunities. Even if you work with Hourly time frame, you need to use daily (or even a weekly one) for example to see the whole picture of the market

Why is it necessary to do this way? The main reason is that you will be able to have the general view of the market helping you to understand midterm and long-term tendencies. If you see that BTC/USD’s price goes upwards on Daily chart, you can say that this asset has a general uptrend in midterm.

This will help you to find better trading opportunities on the hourly chart. When there is an upside tendency, you can either work along the trend or trade against it. However, in the second case you need to be careful as corrections to the general trend are always limited in time and number of pips.

Higher time frames also help to find stronger support and resistance areas meaning you can further use them on your working chart.

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Tip 9: Buy rumors, sell facts

This is a typical recommendation coming from stock and Forex markets. There is a probability of a strong and significant price wave when rumors appear. Those who buy on rumors have greater risks as there are still no facts to prove them. However, they also have better profit opportunities as trends are in their initial phases in moments when such rumors appear.

You need to understand that this recommendation is conditional as rumors may either be positive or negative meaning the price will probably grow or fall depending on the type of rumor. If they are negative, one of the decision is to sell an asset or a part of it as not all those rumors may have an impact on price fluctuations.

Why is it necessary to use rumors in your trading routine? They may have a significant impact on price fluctuations which are stronger than the impact of news following those rumors. How does this work?

Let’s say you have heard that the car’s price will rise in one month. This information is not confirmed yet, but you want to buy a car already especially when you had this intention before. The other has the same wish as the will have to pay more after car’s price inflates. This will lead to the price growth as demand will rise as compared to supply.

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Now let’s see another example. You have bought a car long ago and want to sell it. You have heard somebody saying that vehicles’ price is likely to go down in a couple of months meaning you need to hurry up in order to get rid of your car for a better price.

The same is for crypto industry and any other market. When you read rumors related to positive changes for the crypto world, you buy coins as those changes may affect cryptocurrencies price in future. In case if rumors are negative, you sell it as future events are likely to push the price down.

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Tip 10: Never stop learning

Most beginner traders think that there is some edge of learning that one can reach. The truth is that studying is an eternal process in trading (as in every other profession as well).

Once you create your trading strategy or take a ready one, you can start trading already. However, it doesn’t mean that you can relax in that moment and the profit will jump into your pocket with no difficulties.

Markets are changing all the time. You need to monitor those changes and to include them into your strategy. It is better to learn more methods, be aware of what’s happening in the crypto industry and always be on guards.

Those are not all the tips and tricks for crypto trading, but those are the main. You can use and follow them in order to improve your trading results.

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📈 Pricewise Vadique Magenta

Bitcoin Price Downward Trend Over As Spring Arrives, What’s Next?

Pricewise
Some tips on anticipating market trend reversals in the future, using Bitcoin as an example
 Bitcoin Price Downward Trend Over As Spring Arrives, What’s Next?

 

The break in a 74-day trend fell on the first day of spring. This is quite symbolic: on the surface, it looks like nature is asleep, however, the first signs of life are making their way through the snow-covered ground. As usual, the crowd takes a while to understand what is happening; this gave us time to make calm investment decisions.

Long before the visible line is crossed, the market will offer clues about a changing trend- here are a few of these clues.

We saw an 825-day record volume in a green candle, which resembles a hammer in shape and coincides with the culmination of sales. Many of those who bought at $12,000 with a 50 percent loss said "enough!" and left the market forever. At the same time, the patient, smart money absorbed the entire offer and demonstrated its interest.

 Bitcoin Price Downward Trend Over As Spring Arrives, What’s Next?

Second, we pushed off from the fourth of five root supports which originate at the base of the trend and have a decisive influence on the further fate of the asset.

 Bitcoin Price Downward Trend Over As Spring Arrives, What’s Next?

The third cause of the trend change is the formation of the reversal pattern "head and shoulders," which was activated perfectly- the price reached $11,000 by Feb. 28 in accordance with this framework.

 Bitcoin Price Downward Trend Over As Spring Arrives, What’s Next?

We also received plenty of local tips about the impending change. For example, after an unsuccessful attempt to break the trend on Feb. 21, we moved to a local decline, that is the decline was not too significant. However, each subsequent minimum was less than the previous one.

 Bitcoin Price Downward Trend Over As Spring Arrives, What’s Next?

So, at the moment, we are forming the "head and shoulders" pattern of a senior order and its activation will lead the price to $17,000 in the period from April 22 to May 28.

 Bitcoin Price Downward Trend Over As Spring Arrives, What’s Next?

And, what happens after that? That will be our little secret.

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Coins Guide George Shnurenko

What is IOTA (MIOTA) - Simple Explanation for Beginners

🎓 Coins Guide
IOTA is an abbreviation that can be expanded as Internet of Things Application.
What is IOTA (MIOTA) - Simple Explanation for Beginners

IOTA is an abbreviation that can be expanded as Internet of Things Application. This new crypto-technology was founded in 2015 to alleviate secure transactions and data base transfer between gadgets on the Internet of Things. It is also created to make transactions between devices, assisting the progress of an entire machine-to-machine micro-economy. How does it work? Eliminating the block and chain, IOTA dispenses with the commissions for payments and solves scaling problems. To make a buying/selling deal to the IOTA ’’account book’’, two other preceding transactions need to be verified. The advantage of such check is the absence of any main ledger, therefore miners don’t have to join the web.

As the machines on the web confirm one another’s operations in a random manner, they consent via the net of contacts between deals. This form of confirmation is called DAG (Directed Acyclic Graph). The IOTA designers name it the Tangle. Rapid and free transactions through IOTA are possible, since computational power in the DAG grows as the net increases. IOTA is a new budding technology, still it is being sometimes criticized. Further you will learn about the IOTA principles of operation, what it may be used for, and whether the token worth investing, considering the opinion of critics.

 

TECHNICAL FEATURES

Start up: June 11, 2016

Total fund: 2,779,530,283,277,761

Algorithm: Proof of Work (PoW)

Block time/pay off: Without blocks, check two preceding transactions to process the transaction.

 

FACIAL CHARACTERISTICS

The Problem: Machine to Machine Payments

The Internet of Things has already become a main powerful world’s economical boost. Firms design different gadgets, such as sensing transmitters, video cameras, to control, observe situation in plants, shops, shipping lanes and berthing space. Gartner’s investigation showed a big growth of IoT up to 8.4 billion apparatuses for the last several months. And forecasts for its further growth are rapidly changing. IOTA’s is to be the operating floor for machine-to-machine operations Creators of IOTA insist that IoT will be most useful if the apparatuses share and assign resources more thoroughly. It is meant that the devices should be able to buy more electricity, frequency range, depository, or information when they need it, and exchange those means when they are not required anymore. Probably there might be thousands of operations per minute.

IOTA’s creators insist that subject to this proviso block-chain technology isn’t enough for IoT app. Block-chain networks fight with the ability for scaling. Thus, they frequently charge commission from miners so that they could include a transaction in a block promptly. IOTA intends to solve both problems (scalability and commissions) by means of its new net, to enable a great number of IoT apparatuses to use it.

Ability of scaling: IOTA differs from a Block-chain technology As it is planned that IOTA will carry out billions of web’s nodes once completely realized, the creators had to develop a network on which computational capability grows along with quantity of the net’s nodes. To realize this purpose they developed the Tangle, according to which the device that provides a new transaction shall initially check the pair of previous payments on the network. For each check, the verifier executes checking of the operation connecting transactions into the general Tangle.

The sense of the Tangle is that consent is reached on the basis of a network of checks. Every payment is connected to previous pair of payments which it checked, and later on it is to be in connection with the next payments which check it. Thus, the network does not rely upon a main blockchain anymore and there is no scalability problem. Every other gadget on the network provides its computational power to the web while providing a transaction. There is no block mining, all the crypto-coins on IOTA are designed on the basis of the network.

FREE OF CHARGE transactions

Since you provide computational capability to the web when you make a transaction, the expense of use of the web equals to the electricity necessary to check two other transactions on IOTA. The Tangle enables IOTA to work without fees, so the network becomes more distributed – between every acting node. Zero commissions is an indispensable condition for a mission of IOTA to service IoT devices.

Apparently, the machines will often transact at cents. Micropayments would be impossible with commissions from such minor deals. To be the “trunk” for the M2M economy, any commissions should be eliminated. 34% Attacks & Coordinator Blockchain technology is so structured that a blockchain is open to attack if one side has 51% of the computational capability on the net.

Being at this stage, in theory, a bad actor has a possibility to create and check faulty transactions. And due to the Tangle structure, this rate is only 34% of the computational capability on the network. It means that you would have to find the “nest” first in this complicated network of nodes. Early is the moment when such a threat is most possible. As the early network is minor, it has less nodes, therefore, it’s more simple task for an aggressor to gain a 34% share of the web.

Then, a “Coordinator” is used to fight with the threat of being attacked. It is the only way to safety early on, and IOTA will get rid of the Coordinator as soon as the net is rather strong. It means that the system and currency are now centralized, and in case you make a decision to invest in this technology, you should rely on the IOTA Foundation. Proprietary Technologies There are both favorable and bad responses for the use of new technologies while developing the operating floor. Initially, IOTA used its own hashing feature named as Curl for all checks of operation and key creation.

And though the verification of operation hashing has already changed to a more common protocol SHA 3, IOTA nevertheless uses exclusive Curl hashing feature for other applications. IOTA applies trinary logic, not binary. Use of three-states processors means superiority in productivity and computational capability in general. IOTA works in close cooperation with the JINN Labs on hardware for IoT apparatuses which are capable to computation in trinary. Concerns, weak points, & Critical analyses

A number of experts in crypto technologies called in question viability of IOTA as a platform. Realization of a great number of new technologies at once of course provokes weak points or defects in implementation of IOTA. The technology behind the IOTA just was not tested enough to be sure it will work in scale and whether it is able to combat attacks. Critics of IOTA are most of all concerned about the lack of tests, expert review. A destroying article outlining critical safety defects of the Curl hashing function was recently published by MIT and Boston University. The community and experts look down on the idea that everyone can "roll your own crypto". Good cryptography requires years on development, testing and expert review.

The development of the hashing algorithm SHA 3 took nine years. The experts have expressed their concern that IOTA's creators preferred creation of their own cryptography to using the common standards. Such problems led to quite an variable price for the IOTA currency. But one should keep in mind, however, that any new technology passes through technical hindrances and painful growth.

Bitcoin had Mt. Gox scandal, and Ethereum withstood cracking of DAO. The technology and implementation behind IOTA, of course, will change. Before making the decision on investment of capital in IOTA crypto-currency, potential investors should consider its overall structure and history of the development team.

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Darryn Pollock

Bitcoin vs. Bitcoin Cash: Co-Exists or Kill Each Other?

The Civil War may be over, but neither Bitcoin or Bitcoin Cash are going anywhere.
Bitcoin vs. Bitcoin Cash: Co-Exists or Kill Each Other?

Bitcoin Cash took on a serious goal when it was borne into the crypto community. It intended to become the ‘one true Bitcoin’ allegedly getting back to Satoshi’s Vision for digital currencies.

However, the popularity of Bitcoin and its effect on the mainstream, especially on bringing more people into the cryptocurrency space was unstoppable and juggernaut-like. Bitcoin may no longer be the currency that it was, and it may be suffering problems, but that does not mean people will turn away from it.

The same can be said for Bitcoin Cash, however, in terms of its supporters. Whatever your view on the forked currency, there is no denying its proposed usefulness, nor its ability to stay relevant.

So, will these two fight until one is dead or will they learn to coexist, which will be of benefit for the average cryptocurrency user.

Bitcoin Cash’s relevance

Since Bitcoin was created, there have been increasingly more and more coins that have been created as an improvement on a digital currency that is now 10 years old and operating in much of a similar vein since its inception.

The improvements from other coins are different offerings that are supposed to help users overcome some of the problems. And because Bitcoin's biggest problem is scalability, which leads to slow transactions and high fees, Bitcoin Cash has honed in on that.

As a competitor, that is just six months old, Bitcoin Cash cannot be derogated too far. It has remained one of the top coins in relation to Coinmarketcap and is increasingly growing its adoption and interest.

It offers something that Bitcoin cannot, currently, and that is both good for Bitcoin Cash and for the cryptocurrency community.

Bitcoin’s limitations

Bitcoin is the most popular and powerful cryptocurrency by far, that is not up for debate. It is the gateway coin which attracts people to the market, but it is also a coin with limitations.

Limitations currently are tied to scalability and for some that is not a problem as its ability to hold and grow value is what certain sectors are looking for.

However, the fact that it is not great in Bitcoin ATMs, for microtransactions, for speedy transactions and general retail adoption means there is a gap in the market.

Simple economics

Because both Bitcoin and Bitcoin Cash offer something that each other lack, quick and cheap transaction compared with mainstream acceptance, they are competitors, but they are not direct.

The Bitcoin community may have vehement followers who will side with only one coin, but not everyone need do that, it is fluid enough to use certain coins for certain circumstances and others in other places.

It is competition economics that sees Bitcoin and Bitcoin Cash trying to fight for ascendancy which is only leading to better products being honed for users who can easily use both. And this is a positive going forward should they not kill each other.

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