Photo Credits: _Forbes_
Its less than 48 hours before EOS Mainnet launch and I am expecting the market to react to a successful launch. First off, let me wish Dan Larimer and his team a successful launch and all the best in the future. Its a long road ahead and I am sure EOS would play a critical role in the blockchain acceptance and adoption worldwide. Looking at the trading volume for EOS it averages an eye popping 1.3 - 2.8 billion USD daily which shows healthy appetite and traction. Looking at EOS markets today, we can clearly see an appetite for EOS on Asian base exchange which is a healthy sign.
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Given this trend, with a successful launch I am expecting greater traction on these exchanges if the user experience and throughput can significantly outpace whats on the market. EOS already has a healthy trading volume so traders/ speculators would put capital to work. The BlockOne team also has a mammoth budget to work with given the success of their year long ICO. Taking this into account, if developers experience outweighs that of Ethereum, I am expecting a pool of talent towards EOS from Ethereum base developers. EOS has a lot of ground to cover with regard to growing a vibrant developers community capable of offering products needed for today commerce and global needs. I also see China romance of Dan work given positive rating it receive from the recent blockchain rating as a catalyst to attract Chinese base developers to their team. _Lets dive a little into this_
China most recent blockchain rating shared some interesting light where the country is heading and what kind of blockchain it is looking at. What caught my attention was the high rating of Steem and Bitshares, particularly on the technological score, both receive two of the highest possible score, with Steem receiving the highest. Given China President positive acknowledgement of Blockchain in his most recent speech and allocation of funding from the Ministry towards blockchain development it tells you that China is plotting its course towards blockchain adoption. It is only a matter of time before it open its floodgates and I believe they are putting capital control measures in place to ensure they can maximize its potential. Strongly believe this would take place this year as the race to blockchain dominance intensify. If EOS can tap into this market and attract these Chinese base developers, this would certainly take them to the next level. Given the high technological score both Bitshares and Steem received, their eyes would certainly be on EOS.
_So how do you ride these possible positive waves?_
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Keep track of news and developments around EOS, one of the best ways to gauge interest or success would be the trading volumes and particularly the exchanges it is coming from. Nonetheless, the market behaves like a derivative of Bitcoin, so what Bitcoin is doing matters to the overall enthusiasm of the crowd. It remains to see whether EOS or Bitcoin could spark either to life but for now Bitcoin path is rather interesting given the fact, it only takes a 5 minutes span for Bitcoin to jump 500 - 1000 USD sending the market into a frenzy as we have seen in the past. Given that Bitshares, Steem and EOS share a common technological path, traders/ speculators would gradually widen their basket and this is where Steemians and Bitsharians (LOL, pretty sure that's not in the crypto vocabulary) can ride that wave. Particularly Steem can ride that wave given that it shares come of the common exchanges with EOS such as Huobi, Upbit and Bithumb.
It would also be nice if trading volume improves on Steem that it could be a good time to release SMT to take advantage of these waves. I know there is some friction between the camps but taking advantage of these waves can really help improve trading volume and further improve traction to the platform. Bitshares can be one of the big winners as their team seem focus on taking advantage of the opportunity. The concept of the project fits into the broader market moves to have more decentralized exchanges mainstream. On the competitor side, Ethereum enthusiast would be out in their numbers, we can expect major volatility around Ether and emotional outburst here and there as they defend their bags.
Overall I believe competition is healthy, it would serve the ecosystem well and would bring out the best from developers and enthusiast as they try to build a more robust ecosystem. In any system, you would get the defenders of the varying camps on why this or that technology is better but I hope we do not go down the tribal path where actors try to sabotage others, whether it be outright lies or deliberately spamming network or deploying malicious contracts. Nonetheless, if you can ride these waves, you can secure yourself financially in the future.
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