With the recent critical correction of the cryptocurrency current market, many traders have had some time to mirror on the different underpinnings of this burgeoning electronic asset foundation. Principally, can different crypto coins or altcoins like EOS (CCC:EOS-USD) ultimately deleverage themselves away from the Bitcoin (CCC:BTC-USD) anchor and trade primarily based on their possess fundamentals?
Theoretically, the respond to ought to be a resounding of course. A lot more than a decade back, Bitcoin entered our aircraft of actuality, giving a new methodology of peer-to-peer (P2P) networking.
Instead than having the have faith in design consolidated into a central authority (this kind of as a P2P platform developer), Bitcoin transformed the paradigm solely by decentralizing and distributing have confidence in to public nodes.
In other phrases, the people today handle Bitcoin, not a particular person arbitrarily described as an administrator. From there, other altcoins which include EOS took this very simple but profound thought and integrated it with other applications.
In accordance to Coinmarketcap.com, the ethos powering EOS was to facilitate the progress of decentralized applications or DApps for limited.
My InvestorPlace colleague Ian Bezek stated that EOS strives to grow to be the Palantir Technologies (NYSE:PLTR) of the blockchain marketplace. Individually, I look at it as the Wix.Com (NASDAQ:WIX) of blockchain: the platform receives men and women up and operating speedily with new electronic technologies, in this case DApps.
Whichever way you want to search at it, we both