Why is EOS a valuable currency (Is EOS valuable?),

08/10/2023 18:32 • Metaverse Matters • 86 views

Why is EOS a valuable currency? Editor’s note: This article is from According to Planet Daily, authorized reprint by Odaily.

Why is EOS a valuable currency? Why is EOS a currency? Today, I will talk to you about what EOS is, what changes it can bring to people, and why it has such a huge impact!

In the blockchain world, there is an asset called token, which is a decentralized digital encrypted token issued based on the Ethereum public chain. This kind of token is called token, and its main function is to purchase certain goods or services without any transaction fees. This mechanism is very efficient and scalable: everyone can use a token to exchange for certain items or services, such as buying clothes or shoes, etc.

If we look at the price of Bitcoin (BTC), it is a virtual currency that is safer and more stable than gold and is pegged to the US dollar. When you deposit cash from your wallet into Bitcoin, it is equivalent to holding 10 BTC; if you are not careful, you can sell some Bitcoin to your friends; if you don’t want to sell them, they may send them to another friend. Therefore, this is necessary for the entire network. So what is a token? Simply put, as long as you own 1 Bitcoin, you can become a “miner”, and Bitcoin can also be produced as a currency.

But now many projects have their own consensus protocol (PoW), which is proof of stake. The main purpose of proof of stake is actually to obtain rewards through mining. For example, the production of Bitcoin requires the consumption of more than 30,000 Bitcoin, and the currently circulating Bitcoin in the market accounts for more than 20% of the total supply. (Of course, this also includes many application scenarios): exchanges/ lending platforms, liquidity pools, etc. These types of applications have different purposes: for example, exchanges like Coinbase that provide high-yield; similar to traditional banks that provide large loans, etc.; even financial products like credit cards. However, although some companies use smart contracts, they are actually completed by software developers; or, because programmers cannot directly participate in the system to make money. So, in this case, only a few companies can achieve a truly meaningful business model, rather than just for the purpose of speculation, to protect the interests of more people. Therefore, the concept of EOS can be understood as a form of currency because this is unique to it and is an economic form maintained and developed by all other nodes; at the same time, it may also be a game activity that allows players to obtain rewards and other incentives through playing games.

So the question is: Since it is a game prop, how can so many people participate in the game?

Is EOS valuable?

According to reports, the price of EOS has doubled since June 1, from a high of 40,000 US dollars to 3 US dollars. And now it is still more than 20,000 RMB away from its market value, and it is completely without value. In the stagnant market, investors also have great fantasies about its price, but with the development of blockchain public chains such as Bitcoin and Ethereum, does EOS have certain investment value? Can the current price of EOS on the market match Bitcoin and Ethereum?

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Why is EOS a valuable currency (Is EOS valuable?),

Is EOS valuable?

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