EOS is one of the most talked about coins in the crypto community at the moment. And opinion is divided; with some claiming it’s a scam, others claiming it’s more scalable than Ethereum.
But with a market cap of over 11 billion dollars and its main net platform launching shortly, you’d be a fool to ignore its rising popularity. Let’s examine why EOS could be added to Coinbase/GDAX in the near future.
1. The EOSIO Main Net is coming
Just like Tron (TRX), EOS’s price has been surging as crypto enthusiasts eagerly anticipate the launch of the coin’s proprietary network, EOSIO Main Net, on June 1st. According to an official update, the Main Net will open up a new platform where “entrepreneurs interested in building their own blockchain can fork (the) repository and customize it for their own use.”
Once launched, any software developer will be able to build an app on EOS’s new blockchain system. Think of it as the iOS or Android for blockchain apps. And if EOS becomes the foundation platform for a new generation of decentralized apps, its market price and popularity will only have one destination: the moon.
2. EOS recently confirmed its first enterprise application
Last week (May 15), Synacor announced that its new email and collaboration platform, Zimbra X, would be the first enterprise application developed on EOSIO. The current platform, Zimbra, serves over 500 million users and boasts clients such as Amnesty International.
Erynn Petersen, Senior Vice President of Platform Products at Synacor said, “EOSIO’s scalable high performance allows mainstream consumer products to leverage blockchain capabilities. We expect EOSIO to continue to emerge as a leading blockchain operating system.”
This early vote of confidence is huge for EOS’s Main Net platform, and could definitely encourage other organizations to follow suit.
When #eos starts to deliver, the pressure on all other projects will raise. Now is the time when you can't live on promises any more. This will start a chain reaction where many projects >80% will fail. Money will move to those projects who are able to deliver, ie EOS.
— Henrik Ask (@AskHenrik) May 17, 2018
3. EOS is in the top 5 cryptocurrencies
EOS recently replaced Litecoin as the fifth-ranked cryptocurrency according to CoinMarketCap, with a market cap of over $11 billion. And if Coinbase—which currently offers 4 out of the top 6 coins—is really looking to add new coins in 2018, it would be difficult for Brian Armstrong’s team to overlook the popular EOS coin and its $877 million circulating supply.
Why? Because Coinbase has also been preparing for a huge increase in trading, so adding a cheaper altcoin with high volume like EOS to its platform could increase trading volume and in turn, profits.
4. EOS has the potential to be more scalable than Ethereum
Unlike Ethereum, EOSIO could be the only network to potentially handle commercial-scale decentralized applications. EOS Main Net will rely on Graphene technology, which can achieve 10,000-100,000 transactions per second, and will use parallelization to scale the network up to millions of transactions per second.
In the blockchain ecosystem, scalability is a sure sign of a project’s long-term value. Even GDAX’s digital asset framework evaluates a network’s “ability to grow and handle user adoption” when considering a potential coin listing. So if EOS can practise what they preach, it will be top marks on the scalability front.
5. Coinbase is planning a major hiring spree
Last week, Coinbase opened an office in Chicago in a bid to lure investors and attract more talent, aiming to hire 30 employees by the end of the year, and reach 100 within three years. The company is clearly taking their role as a leading exchange seriously. And you would expect them to add multiple coins in the near future to compete with other popular exchanges such as Binance who are eating into their market share.