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EOS Receives The Best Protocol Award - EOS News, Price Analysis. Tuesday, September 4

04 september 2018, 15:19 by Jofor Humani

EOS/USD Price Chart, EOS News: EOS has announced that the network has received the award of the best blockchain protocol from Blockaward in a ceremony at San Jose California as part of the BlockWorld 2018 Conference. In other news, Analysts are predicting

EOS Cryptocurrency News

EOS Receives The Best Protocol Award

EOS has announced on Twitter that the network has received the award of the best blockchain protocol. Details say that this time, the award came from Blockaward in a ceremony at San Jose California as part of the BlockWorld 2018 Conference.

Skeptics have often wondered why there should be awards in a decentralized economy such as blockchain. Nevertheless, this has not stopped agencies and organizations from wading into the industry in a bid to recognize some of the most impactful platforms and those seen to have great potentials as disruptive technologies.

EOS has been touted as among the best in the cryposphere. In fact, this is not the first time the platform is being recognized. The Chinese Ministry of Industry and Information Technology earlier released a ranking of digital currency platforms. That ranking placed EOS at number one, followed closely by Ethereum which is the second most capitalized coin.

The awards point to the uniqueness of the EOS platform and the passion behind the project that was promoted as the “Ethereum Killer”.

Cautious Optimism As EOS shakes Off End of Month Bear pressure

As the price of EOS experienced an uptrend at the beginning of September, analysts are cautioning that the bulls may be short term especially as the coin approaches the $7 resistance mark. This is because a bear breakout pattern is forming incentivized by the bear bar initiated from the August 8 trendline.

As at the time of report, the coin is down 1 percent. It is likely that selling pressure will give the bears upper hand as a likely retraction is bound to occur according to the 480 minute chart along which the breakout point is the $6.2 mark.

Reports from FXStreet suggests, “Till the time bulls can't take off the range of $7 - $7.7, this breakout will keep facing selling pressures at higher level

EOS Price

Analysts Are Predicting Bright Future for EOS

The smart contract feature of EOS makes it easy to classify the coin a high utility. This combined with its scalability seems to be the dream of decentralized app developers. These features are the reason the EOS platform has been getting positive reviews right from outset of its Mainnet.

The fact that the coin has generated a lot of buzz is the reason investors have been on the lookout for future price trend. Although there has not been a certain method of ascertaining the future price of any coin, trend prediction is possible based on factors such as velocity and commitment of the team behind the coin.

Using these factors, it is safe to say that EOS has positive outlook especially as the network is working towards the adoption of a governance structure that employs the best of decentralization and control.

Analysts are predicting that the coin would be valued at more than $35 by the end of 2018 and $143 in half a decade. Its strength will be in its enablement of multiple decentralized applications which has made it an in-demand platform for enterprise level clients. Its scalability is an attraction to corporate level organizations.

EOS/USD Price Chart, Tuesday September 4th:

EOS Price Chart

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