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Thursday, 9 July 15:17 (GMT -05:00)



Foreign exchange market

Bitcoin Grows. EOS May Lead The Market Thanks To Blockchain


Bitcoin gained a good momentum along with the rest of the cryptocurrency market after good news from China. However, EOS may become the locomotive of the movement.

China's Blockchain

China, which is the world's second-biggest economy, is going to launch their national Blockchain platform on April 25th 2020. That's a good ad campaign for the entire cryptocurrency world. Previously, we used to see hesitation coming from the Chinese authorities. Cryptocurrencies were banned and legalized several times. With that being said, China's Blockchain Service Network (BSN) is expected to solve this problem once and for all. This is a centralized platform allowing developers to come up with apps based on blockchain. EOS will join this platform to defeat Ethereum (currently the most popular cryptocurrency of that kind). Apparently, some advocates of cryptocurrencies are not content with this idea since cryptocurrencies were designed as something decentralized and anonymous, in contrast with the so-called fiat money.

BSN. What's The Goal?

The key goal of the BSN is to reduce the cost of app development. Developers will get a couple of corporate protocols and even public networks at their disposal. Thanks to this idea, China wants to lead the blockchain innovations and respond to the possibility of Western tech giants launching their own projects like that. According to the CEO of Huobi Group, this is a cross-platform,  cross-browsing, and cross-framework platform designed to simplify and speed up the process of developing, deploying, supporting, and using apps.

Initially, the platform will support both ETH and EOS. Later on, EOS may be chosen as the only solution to back the platform. This is considered the most efficient technology in the history of blockchain. What about confidentiality? Apparently, the Chinese government would like to control the transactions. The While Book reads that any transactions within a certain app should be private but nothing is said about the government control.

BTC Market

Apparently, the news pushed BTC higher. from 6500 dollars per coin all the way up to 7100 dollars per coin. At this point, it's trading close to 7020 dollars per coin.
 

 

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