EOS (EOS) And Bancor (BNT) Price Analysis – 27 August
A popular cryptocurrency trader and analyst Josh Olszewicz ran technical analysis on the price action of two altcoins, EOS and Bancor (BNT).
EOS (EOS)
The EOS platform, created by Block.One, is a global computing network designed to host decentralized applications (Dapps), and decentralized autonomous corporations (DACs). The EOS network hosts smart contracts on Virtual Machines and competes with other Dapp or smart contract platform blockchains, including Ethereum (ETH), Tronix (TRX), and NEO (NEO). The ETH and NEO platforms use gas to pay for units of computing power while EOS uses RAM.
The EOS blockchain went live on June 14th, 2018, after raising ~US$4.2 billion in a controversial year-long ICO. The EOS blockchain uses a Delegated Proof of Stake (DPoS) consensus model.
Bancor (BNT)
The Bancor protocol enables built-in price discovery and a liquidity mechanism for tokens on smart contract blockchains. These “smart tokens” hold one or more other tokens in reserve. They enable any party to instantly purchase or liquidate the smart token in exchange for one of its reserve tokens, directly through the smart token’s contract, at a continuously calculated price, according to a formula which balances buy and sell volumes.
Bancor is named in honor of the Keynesian proposal to introduce a supranational reserve currency called Bancor to systematize international currency conversion after WWII.
