China’s biggest internet security firm Qihoo 360, has recently stated that their launch of the EOS mainnet on 2018, may be slightly delayed because of security vulnerabilities. They have taken caution not to disrupt the EOS network, which is the cause of the launch delay.
According to the team, this step was taken to take care of the security problem within the EOS network that could leave it remotely compromised. This security issue detected by the Qihoo 360 team has been resolved and isolated to pave way for the launch. It was found that some remote attacks can automatically dislodge the entire EOS network, making it difficult for the developers to completely track it.
The development of the platform with exchanges like Kucoin, bitfinex, and Binance, could spell the beginning of a new era for high valued cryptocurrency & blockchain if everything goes as planned. That’s why they are taking their time to detect a problem on the way before its launch.
The identified flaw can be utilized to reestablish a malicious contract in the new block, causing the nodes in its network to be remotely controlled. The 360 team is doing everything possible to prevent this from happening and have a successful EOS launch.
It’s critical for Qihoo 360 to monitor the development of the flaw because any error can completely erase the hard work they have done over the months. A remote control of the EOS network can give all the powers to the attacker to do anything they want to do, which will make EOS very vulnerable. According to the 360 team, the launch will only be possible if they are completely satisfied the platform is completely secured and free of any malicious attack. An attacker can do a whole lot of damage if this is not properly checked. They can easily acquire financial data in the network, including privacy data, key user profile, and users’ profile in the wallet.
So precaution on the launch is in order.
Technology head at EOS platform, Rosham Abraham, has stated that although the platform has not given any information on security issues, the team still needs to take precaution, considering the level of risk at hand if the breach becomes a reality.
Potential effect of Qihoo 360 and EOS team
As the Oihoo 360 and EOS team are about to collaborate, there is definitely going to be some benefits for both teams. It will allow EOS take advantage of the resources and experience of Qihoo to improve their overall security before launch date.
Future predictions for the EOS platform
Decentralized applications can be achieved using the EOS platform. It can effectively be done to ensure scalability in a public environment. With the EOS platform, several decentralized applications can be supported as well. These benefits are the reasons why the platform is gaining increased popularity.
EOS platform’s token has been steady in recent times compared to other tokens in the market. This stability has prompted the high demand for the coin as the cryptocurrency market for the year intensifies.
Indeed, investors have forecasted the value of EOS to stand around $37 by the end of the year. But its forecast for 5 years is valued at $143. This makes the future outlook and percentage of appreciation pretty high. In fact, it’s one of the best uprising coins based on current and projected value. That’s why it’s a great coin to put your money on, especially if you are not looking at immediate gains but future outlook.
EOS Forecast for 2018
The forecast by end of the calendar year 2018 is around $ 37. Similarly, the five-year forecast is around $ 143. Thus, the total quantum of appreciation which can be reached is actually pretty massive. This is the cause why it is value investing too.
However, the EOS platform is very scalable, which makes it a perfect choice for a lot of investors looking for easy applications they can connect with. With the platform, most developers can create different applications as well as run multiple decentralized applications.
A decentralized application actually reduces the IT requirement of the team, which makes it easier for more enterprise companies are interested in the platform for. As more companies are using the platform, it will become very popular, which has the propensity to raise the value of he coin. This is one of the major reasons why OES is in a great period for investors to place their money. The only direction the value of this coin will go is an upward direction. Some investors are trying hold on to the Eos cryptocurrency for a while to see how far the bull market will go.
But as with any type of investment (especially cryptocurrency investment), the market can turn around at anytime. The crypto market is a volatile one and investors can expect anything. All coins witness some level of volatility. But the difference between a great choice and a bad investment is the former’s ability to bounce back from its decline. EOS coins have been able to make sustained progress because of its propensity to get back up after a bearish market.
On a general note, EOS is one of the leading cryptocurrencies in the market and there are great indications the platform will become more valuable in the future.
The long term forecast for the cryptocurrency is a good one. Investors who like holding on for a long time may derive all the long term benefits of the coin. But currently the market is in its bearish state, even though there are indications of improvements.
With all the above in mind, it may be the right time to invest in the EOS coin since there is high hopes of improvement on its value in the future. Currently, the coin is not doing really bad, considering other coins in the market and the prese4nt rate of volatility. Overall, investors are still keeping faith that the NEO will someday become one of the biggest players in the cryptocurrency market.