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EOS is predicted to end the year with a value that's higher than $30, according to a report from Ethereum World News. The EOS prediction comes after the recent launch of its Mainnet network, which suffered technical difficulties after it became operational.
Despite the setback, however, the digital currency took the number one spot in China’s ranking of cryptocurrencies for the month of June. The Global Public Chain Technology Evaluation Index is released by the country on a monthly basis to provide detailed insight into how the crypto market matures.
The reason behind the index’s high evaluation of EOS is centered on its efficient transaction confirmation, network capacity, and transaction cost. Developers of the cryptocurrency designed it so that it can conduct thousands of transactions per second without running into problems with scalability.
Another factor in the positive EOS prediction is the projected bull market that will soon come, similar to what occurred last year. In January 2017, the cryptocurrency was valued at $10 but took a huge upswing six months later, when it was trading at $285 in the month of July. That’s a 2,500 percent increase in just half a year.
A few days ago, EOS creator Block.one proposed a constitutional overhaul of its system following the crisis that plagued the cryptocurrency. The most recent issue is the one regarding freezing accounts concerning the EOS Core Arbitration Forum (ECAF), block producers, and EOS users.
With the new constitution being proposed, this particular problem will be addressed as it will limit the arbitration orders for fixing error codes. “The block producers have a new telegram group and other private channels to be alerted of such notices,” said Roshan Abraham, head of technology at block producer EOS Authority. “However, I don’t see account freezes happening once the new constitution is in place. Arbitration ruling will be only for emergency code changes.”
Regardless of these issues, the EOS prediction is still expected by the bulls. Of course, all of these speculations remain just that, speculations. Whether or not they will come to fruition will depend on a lot of factors within EOS and the industry.
