EOS (EOS) – is one of the new crypto coins in town. The coin came in with several features that beat the old high-rating currencies. The coin performs more transactions per second than both Bitcoin and Ethereum. These features placed the coin in the top ten categories even though the coin is very young.
In recent news, EOS is releasing a new update called the EOS dawn 4.0 update. This update comes a month after the coin released its 3.0 update. Recently, the software encountered lots of issues that required extensive work by the team. The team is releasing this update to enable users to know the precise time that lapse between smart contracts.
The new update will address all issues regarding timing and applications. The team has also updated the previous RAM price which was $20 per token. The increased RAM requirement changes the requirements for new accounts. New account holders will pay $0.10 for 4 KB worth of RAM, which is a requirement for new accounts.
The EOS team wanted to discourage people from hoarding and holding speculations, and this is what the team did to push their goal forward. The team allowed people to sell their RAM at the price they bought it. These arrangements were in the Dawn 3.0 update.
Now let us check more information about the Dawn 4.0 update. There are some changes in the Dawn 4.0 update. It would be great if we can update ourselves on these new changes even before they are rolled out.
The new update focuses on increasing scalability. That explains why there are changes to the inter-blockchain communication. Applications that are running to different blockchains can buy RAMs that are not in use. It is now attractive to sell unused RAM. Here, the economics of supply and demand comes in; the incentive to trade RAMs will regulate the price. If the demand for RAM increases, the rate will also increase.
EOS announces airdrop
That is how the team intends to use the new update to increase prices. There are more announcements regarding EOS on the cryptocurrency market. LetItPlay announced airdrop for EOS holders. The airdrop is an opportunity for EOS holders to acquire free tokens. Users need to register to access free tokens. The airdrop will start on June 1st, 2018.
The news of the airdrop has caused a surge in the price of the coin over the weeks. The rate reached one of its highest points since February. EOS has experienced price hikes with previous airdrops as well.
EOS Wallets; How to choose the best
There are many wallets out there for storing cryptocurrencies, but not all of them are compatible with EOS. The wallet must support an ERC20 token on the Ethereum blockchain. The tokens will move to the EOS blockchain after the EOS platform is complete.
Everyone wants to be confident that their coins are in safe hands. That is why you need to safeguard your coins at every opportunity. One of the most critical steps in preserving your coins is to make sure you choose a wallet that is secure. All wallets talk about the security features that they have put in place to make your tokens are safe. A good wallet should provide security against hacks.
Every crypto enthusiast knows how vital private keys are. Your wallet should allow you to gain access to your private keys since the keys are required for transfer funds. Upgrades are essential for wallets especially if the wallet developers want to be ahead regarding security, better features, relevance. You should look out for a wallet that receives updates often.
Wallets may come as hardware or software. Based on reviews and experiences these are some of the reliable wallets for your EOS tokens.
One of them is Trezor. Trezor is a hardware wallet that answers all your security issues when it comes safeguarding your tokens. Trezor is initially a bitcoin-only wallet that now supports several other coins including EOS. The wallet is easy to use, and you would complete transactions efficiently. The only downside of this coin is that it features a complicated PIN that makes it a bit difficult to have access to your account. That is not entirely bad since it is just another way of heightening the security of your account. By the way, Trezor is also expensive compared to other wallets.
MyEtherWallet is also another wallet that is considered one of the best wallet for storing EOS tokens. This wallet allows you to store tokens that are on the Ethereum platform. A typical example is the EOS. MyEtherWallet is free to use, but there are charges on transactions. This open-source wallet is compatible with some hardware wallets including Trezor and ledger as well. This wallet also works on regular updates and users should watch out for the next updates. The team is developing the 4.0+ version. This version is in its early stages.
Talk of new wallets that are gaining attention, the Jaxx wallet is one of them. This wallet supports most popular platforms including Windows, Linux, Apple, Android, and IOS. This support feature makes it easily accessible wherever you find yourself. Jaxx also allows users to store other tokens including Litecoin, Bitcoin, Dash, and Ethereum. One good thing about the Jaxx wallet is that it has integrated ShapeShift, an exchange platform that allows the trading of several cryptocurrencies.
We can also talk about good old Ledger, a wallet that is well known for storing some of the most popular crypto coins. Ledger is a small hardware wallet that is secure and easy to use. With Ledger, you can run it with several other crypto software, and it is also affordable.
The current price of EOS
It does not look like the prices of EOS will retreat anytime soon. According to CoinMarketCap, EOS is trading in the Red zone. The price of the coin is $14.97 USD indicating an 18.05% decrease in rate. The coin has a 24-hour trading volume of $980 million and a market cap of $15 billion.