6 June 2018 4:08 am
For months, a few perceptive investors have speculated partnership of sorts with EOS and Bitshares (BTS). There has been much hubbub on community boards and Telegram chats that big news is coming regarding the two crypto giants.
So what could the upcoming news be?
First, since there are a lot of rumors circulating Steemit about what the connection could be, let’s clarify a few things about what it will not be.
Eos’s ICO will be one of the longest-running to date, at an estimated $4 billion crowdsale. One thing’s for sure - EOS will not make its debut on the Bitshares DEX. The news came from developer Dan Larimer himself.
FUD has a way of finding believers. While EOS continues to perform well, many have worried that the new cryptocurrency will simply replace BTS altogether, resulting in a completely consolidated token. That’s not the case, according to Larimer.
“EOS is an ETH killer,” answered Stan Larimer at a recent press conference in China, “not a BTS killer”
So if it’s not an ICO and it’s not a replacement, what exactly does the new relationship entail? Here are a few hints and clues:
EOS’s infrastructure is designed in such a way that it can run various apps within a smart contract. The implications could be monumental. Instead of having to go through an intermediary like an app store or a website, Bitshares DEX could be initiated anonymously on the EOS blockchain.
Such a partnership could also hint at interoperability- the ability to convert from BTS to EOS, and vice versa. Time will tell, it's one to watch for sure.
EOS is currently on the ethereum blockchain, but as competition between the two cryptocurrencies heats up, investors believe that EOS will move away and start its own blockchain. The token’s legalese also makes reference to this: EOS tokens will not afford users “any rights uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the EOS platform.”
This could be the signal that EOS could also employ the Bitshares blockchain, which is known for a throughput of 100,000 transactions per second. Of course this is speculation.
Don’t rule it out just yet. Just because the ICO will take place on the Ethereum blockchain doesn’t mean that Bitshares DEX is ruled out for good. It’s likely that after EOS moves away from the Ethereum blockchain, Bitshares will be seen more of an attractive concept for investment with more exposure to new cryptocurrency investors.
There’s one commonality between Bitshares, EOS, and Steem- all three use Graphene technology, the same technology responsible for Bitshares’ super-efficient processing ability. That alone should alleviate the concerns of investors about a legitimate connection between the three products.
But if that’s not enough, we can look at Stan Larimer’s recent trip to the 2018 China International Big Data Industry Expo. While there, Larimer bragged about how EOS would draw further attention to some of Dan’s earlier projects, including Bitshares DEX and BTS.
It remains unclear just how Bitshares and EOS will work together, but one thing is for certain: it can only be good for Bitshares. Since it’s not going anywhere anytime soon, the future functionality will likely create more value for both businesses.
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