• Advertise
  • Submit a Press Release
  • Contact Us
Blockchain & Cryptocurrencies Tabloid
  • Finance & Blockchain News
  • Bitcoin News
    mining

    Increased Demand Requires Increase in Nodes. Here’s Everything You Need to Know About Bitcoin Mining During Lockdown

    Bitcoin wallet

    BitcoinOfficial.org- Create a Bitcoin Wallet. Official Website.

    Bitcoin price

    What Drives Bitcoin Price?

    Mining

    Railway Authorities in Ukraine Shut Down Unlawful Mining Outfit

    Bitcoin

    Economic Crises Will Not Affect Bitcoin: Ledger Founder

    Supply and Demand

    Bitcoin’s Demand and Supply Dynamics are Constant: Bitwise COO

  • Altcoin News
    • All
    • Bitcoin Cash
    • Cardano
    • EOS
    • Ethereum
    • Litecoin
    • Monero
    • Ripple
    • Stellar
    price prediction

    Bitcoin, Ethereum, and Ripple Price Prediction in June 2020

    XTZ

    TEZOS (XTZ) Join the Top 10 Crypto Coin List

    MakerDAO

    MakerDAO to Implement New Security Feature After Loophole Detected in System

    BCH

    BCH Successfully Completed a Scheduled Fork, Added Minor Upgrades

    CUSD Stablecoin

    Canadian BVCI Launches Another Stablecoin CUSD

    EOS network

    EOS Network Is Running on Borrowed Resources After EIDOS Airdrop

    Trending Tags

    • Ethereum
    • Bitcoin Cash
    • Litecoin
    • Monero
    • Ripple
  • Crypto 101
    • All
    • Cryptocurrencies
    • Exchanges
    • Services
    • Wallets
    buy bitcoin with paypal

    How to Buy Bitcoin with PayPal

    bitcoin wallet

    Bitcoin-wallet.org – How to Create a Cold Bitcoin Wallet (Offline)?

    forex

    Pros and Cons of Trading Bitcoin on the Forex Market

    bitcoin price prediction

    Bitcoin, Ethereum, and Ripple Price Prediction in February 2021

    bitcoin price

    Bitcoin (BTC) Price Prediction 2021: Market Analysis and Developments

    Bitcoin price prediction

    Bitcoin, Ethereum, and Ripple Price Prediction in January 2021

  • Blockchain Events
No Result
View All Result
Blockchain & Cryptocurrencies Tabloid
No Result
View All Result

EOS Network Is Running on Borrowed Resources After EIDOS Airdrop

Tony P. by Tony P.
November 10, 2019
in Altcoin News, EOS, Latest News

Even if the EOS Network concentrates on distributing the new digital coin EIDOS, the platform is riddled with challenges. According to research done by the crypto exchange platform Coinbase, the platform is operating on borrowed resources.

Coinbase team reveals that the EOS Network temporarily ceased operations between November 1 and November 8. However, the operations have now resumed but most of its activity runs on lending resources. While most transactions still support the EIDOS simulated airdrop, only big accounts with loads of EOS at stake can purchase CPU resources to help them operate their distributed apps.

A section of the statement from the Coinbase team reads:

“Currently, we’re observing around 95% of all EOS transfer actions are related to the EIDOS contract. Because each transfer counts towards the amount of CPU used in a block, this spike in transfer actions caused the EOS network to enter congestion mode.”

The EIDOS coin is already widely traded on various exchanges, offering an opportunity for generating almost guaranteed income from sales.

Free Money Printer

Apparently, the EOS network is currently a free money printer. Before October 31, the CPU usage went up by 10,000% immediately after the lunch of the EIDOS airdrop. This followed a situation whereby many participants bought up network resources, including RAM, CPU, and NET.

Therefore, this implied that only major resource owners could afford to acquire EIDOS and later sell it on an exchange for USDT. The current market price of EIDOS shows high volatility with a steep drop from $0.056 immediately after its launch to around $0.020 at the time of writing. This has been caused by constant selling pressure. All the same, the EOS price has remained steady hovering around $3.53 at the time of writing. The new digital coin has developed its presence on various exchanges, including Bithumb Global. Since its launch, the EIDOS craze has spread widely through WeChat, as EOS started offering the coin to its clients.

Featured Image Source: Medium.com

Tags: EIDOSEIDOS AirdropEIDOS listingEOSEOS network
Previous Post

"Two More Bubbles" for Bitcoin to Hit $1 Million - Boby Lee

Next Post

MasterCard Launches "FinTech Express" in Asia-Pacific Region

Tony P.

Tony P.

Invest at your own risk notice : The information on this website and the links provided are for general information only and should not constitute any financial or investment advice. We strongly recommend you to conduct your own research or consult a qualified investment advisor before making any financial decisions. We are not responsible for any loss caused by any information provided directly or indirectly on this website.

Related Posts

Froge Coin

FROGE Coin Is Now Live – Get It While It’s Fresh

by Ionela C.
March 10, 2021

Today marks the launch of the biggest meme coin competitor- Froge Coin . The blockchain is an all-in-one cryptosystem that...

Wright

Craig Wright: Bitcoin Is Not Anti-bank

by Ionela C.
March 8, 2021

Bitcoin creator and nChain chief scientist Dr. Craig S. Wright, explains in detail the Bitcoin white paper he wrote in...

price prediction

Bitcoin, Ethereum, and Ripple Price Prediction in June 2020

by Anca F.
May 28, 2020

We will be reviewing some of the historical price trends and market opinions so that we can formulate a price...

teenager

In One Day A 15 Years Old Teenager Earned 0.7 BTC!

by Ionela C.
May 14, 2020

In the USA (Miami, Florida), a 15 years old teenager earned 0.7 BTC in one day. The teen’s name is...

Polehin

Polehin.com: The First Cryptowallet Available on Apple Watch

by Ionela C.
March 17, 2020

There are a myriad of Bitcoin wallets on the market, so the competition is harsh. The quickly developing Polehin.com app,...

XTZ

TEZOS (XTZ) Join the Top 10 Crypto Coin List

by Tony P.
December 12, 2019

If the current rally of the Tezos project is anything to go by, the crypto coin XTZ has joined the...

We Recommend

Top Rated Casinos
Bitstarz Casino

BitcoinCasino.io
Top Rated Exchanges
Binance Exchange

Bityard.com
Top Advertising Services
Coinzilla Display Network
Top Crypto Wallets
Ledger Nano X

Guides & Reviews

buy bitcoin with paypal

How to Buy Bitcoin with PayPal

March 30, 2021
bitcoin wallet

Bitcoin-wallet.org – How to Create a Cold Bitcoin Wallet (Offline)?

February 15, 2021
forex

Pros and Cons of Trading Bitcoin on the Forex Market

February 10, 2021
bitcoin price prediction

Bitcoin, Ethereum, and Ripple Price Prediction in February 2021

February 7, 2021
  • Terms and Conditions
  • Privacy Policy
  • Advertise
  • About Us
  • Contact Us

© 2018-2019 theccpress.com by Brantell Media.

No Result
View All Result
  • Finance & Blockchain News
  • Bitcoin News
  • Altcoin News
  • Crypto 101
  • Blockchain Events

© 2018 - 2019 theccpress.com, a Brantell Media project.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.