With cryptocurrency trading prices roaring back (Bitcoin is now up over 50% in 2019) EOS (EOS-USD) has followed the trend of a reverse on the bearish 2018, though it hasn't seen the kind of uptick other coins have, especially those coins near the top five in market cap.
EOS is a third–generation blockchain platform seeking to be recognized as the leading platform for creating decentralized applications (Dapps). In this course, a recent analysis has shown that EOS has surpassed Ethereum when it comes to Dapps. In the report, EOS and TRON had the newest Dapps. After its record $4 billion ICO, EOS wants to be an “operating system” so that almost anything can be built on it.
Away from being an operating system, below are three reasons why the rest of 2019 could be big for EOS.
1. Expansion of the EOS platform by Switcheo
Switcheo is a decentralized exchange built on the NEO blockchain but also allows trading of Ethereum. The DEX seeks to provide cross-chain swapping functionalities with the aim of "delivering a world-class trading experience in a trustless and decentralized environment."
To support EOS, Switcheo has partnered with Obolus, a firm that delivers solutions in the blockchain and finance sectors. This will enable EOS trading on the Switcheo exchange. EOS will be following Ethereum and NEO on the exchange. Obolus provides an on-chain matching engine functionality which will consequently eradicate the need for third parties, hence boosting security.
“Switcheo’s vision has always been to provide an easy-to-use trading experience without compromising on security, where users can be confident that all funds are always within their control. By leveraging an efficient on-chain matching engine designed by Obolus, the exchange allows users to trade in a fully trustless, fair and transparent manner,” noted Switcheo’s co-founder, Jack Yeu.
Interestingly, those familiar with EOS will only require a Switcheo account from where they can trade on all available chains without “requiring a separate wallet and software for each of the blockchains.”
This will, without doubt, create interest around EOS, which will see stable price support.
2. GoCoin accepts EOS
GoCoin is one of the leading merchant payment processing firms with a global footprint. The payment processor has announced it has added support for EOS, allowing e-commerce merchants dotted across the globe to accept EOS from their customers. Notably, EOS can now be integrated on WooCommerce, Shopify, and Magento.
Margot Ritcher, CEO, GoCoin, noted that the selection of EOS was not done blindly but because of its “true decentralization, flexibility and scalability.”
GoCoin has updated its ticketing system in the areas of refund completion, tracking system, balance breakdowns, among others.
Ritcher added that EOS has shorter block times and “self-sustaining, long-term stability.” There's no better statement to push the adoption of EOS as this. With more merchants able to experience the powers of EOS in their shopping escapades, the price of EOS will not be left behind.
3. EOS reducing its inflation rate from 5 percent to 1 percent
The EOS community is concerned that the current 5 percent annual inflation rate on the EOS blockchain is causing them to accumulate more EOS, hence lowering their value.
The good news is that a vote held through the EOS Referendum has concluded that the inflation rate should be brought down to one percent. With the reduction of the unnecessary accumulation of EOS coins, the coins’ value will be respected. Among the top supporters of this move is EOS’s founder, Dan Larimer, and those tasked with validating blocks on the EOS platform commonly called block producers.
While it’s at the early stages of being implemented, such a significant consensus on the way forward will see the change applied pretty fast. When the inflation gets to 1 percent, revenues to block producers will not be changed. What will change is the inflation that goes into a savings account "for future use." The account already has 100 million U.S dollars untouched and there no plans to spend it just yet.
In conclusion, reducing the inflation rate will prove crucial to propping the EOS price to higher heights in 2019. Additionally, EOS being availed as a payment option at popular e-commerce sites by GoCoin, and being traded on Switcheo, will all work together to push the price of EOS to levels never experienced before in the coin’s life. And this will happen in 2019.
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Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.