EOS over Ethereum
EOS is a blockchain protocol which enables horizontal scaling of decentralized applications (dApps). This effectively allows developers to create high performance distributed applications that do not operate on the same chain. Ethereum developers are working on a similar technology called sharding which will facilitate the same thing when the update is rolled out.
The EOS token is currently ninth in the market capacity charts, trading at the time of writing around $9. It has risen steadily over the past week by 50% but is still down from its all-time high of $18 on January 11. The total market cap is just under $6 billion and it is traded predominantly on South Korean exchange Bithumb which has 40% of the total. Around $348 million has been traded in the past 24 hours and the news of the partnership is likely to boost these figures for EOS.
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Images courtesy of Bitfinex, EOSfinex, Shutterstock
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