EOS: The Cryptocurrency @akintunde Keeps Talking About

One of the things @akintunde (Akin) has done to me is to introduce me to the vast world of cryptocurrency. Before I met him, I was all about bitcoin and Dash, mostly Dash though. With Akin, I’ve been involved in so much more. Despite his reservations with the discentralised Blockchain space, he has been very enthusiastic about EOS. As it were, he has rubbed some of his enthusiasm on me. For now, EOS is my favourite cryptocurrency.

What I Know About EOS

I have two sources for my knowledge on EOS: What I read on the internet and what Akin shares through his blog, through @eosng and through through the EOSNG discord server. Let me add that the thoughts here are expressly mine, based on my limited understanding on the subject matter. Akin has in no way gone through this material and doesn't endorse any of this.

First, I know that EOS was founded by one of the founders of Steemit, Dan Larimer @dan. Akin has some respect for Dan so I decided to look him (Dan) up. I realised that Dan is something like a freedom activist. He seeks to create digital freedom. To what degree he has been successful is up to debate; but I think he is doing a good job. Why? He’s creating a super platform. This leads to my second point.

I know EOS is more than just a Blockchain. It is something like an operating system that supports other Blockchains, a mother Blockchain of sorts. I think it can be compared to Etherum in this regard. One major difference is that EOS is free for all developers and for creating smart contracts. Akin is excited about this, and that’s because he is a developer. He developed Steem Payout, a wonderful Steemit tool to help users calculate their real SBD payouts on all active posts and comments. There is also an exchange platform to boot.

Back to EOS. For me, the greatest appeal lies in its uniqueness and universality. I am not a developer, I am a writer and entrepreneur. When I consider the many ways EOS can be applied, I am impressed. I own a magazine (maybe owned as I’m trying to bring it back to life.) When Steemit Inc announced the development of the Smart Media Tokens, I was excited. I saw a way to merge my love for writing and business together. With EOS, I am even more excited.

I already look forward to having a Blockchain based magazine. Funding for my magazine has been my greatest challenge. I look forward to a system that allows the writers earn directly from the readers. I am prepared to begin the process and start raising the hopes of prospective writers. However, Akin advises caution. So these days, I am watching the crypto space, trying to identify opportunities.

The second greatest appeal is its price. Akin isn't keen about the price; he’s all about value. Well, I’m concerned about the price. As a struggling writer, I find the need to find a passive source of income while I work on my projects. Having a steady source of income allows me to focus on my writing. Thanks to Akin, I bought a few tokens (I wish I had bought more). However, I believe I have made a good investment that will yield great returns in the nearest future.

What I Don’t Know About EOS

There are a lot I don’t know about EOS. Ordinarily, I should read up on these but I’m not very concerned. Why? Because I’m just an investor. I’m concerned about the rise and fall in prices. When I launch my magazine website on the EOS Blockchain, I’ll be a bit more concerned, for now, I’m just picking up information as they drop. Or maybe I’m just content with being a layman on the issue.

Things I don’t know include:

1. How the smart contract works
2. How to develop applications on a block chain
3. The many platforms currently being mounted on the EOS Blockchain and many more.

So there you have it; EOS is my favourite cryptocurrency for now. I keep my eyes on the price and my mind on the potentials for my writing career.

This is my entry for the [May] Cryptocurrency Contest by @tspink

Thanks for reading

Blessings

[Image source: Wikipedia Commons]