According to an article by smartereum.com, EOS is one of the top Ethereum rivals that are struggling to outperform the second largest cryptocurrency per market capitalization. It is a smart contract platform that hosts decentralized apps just like Ethereum. However, EOS is cheaper and more scalable than Ethereum. This has helped it gain adoption in recent time. Recently, EOS announced that it would be integrated on a Reddit-like forum application, Tapatalk. According to the announcement, which was made on the 21st of February, Tapatalk is going to use the EOS blockchain to power a Gold Point reward system for users. The Gold Point reward system gives users and admins incentives.
Tapatalk Will Boost Adoption For The EOS Blockchain
By working with Tapatalk, EOS will benefit from the 300 million users on the platform while increasing participation among them. It’s a win-win situation. The CEO of the forum, Winter Wong had this to say about it:
“We are looking for ways to promote microeconomics on our forum platforms. The integration of blockchain technology is a natural step towards this. In his words:
“There are many exciting ways to use this new technology. It is going to provide reward opportunities and monetization opportunities as well. We are happy to support forum owners in the ever-growing microeconomies and in a trusted environment.”
In the year 2017, the Gold Point reward system was launched by Tapatalk to support moderators and administrators as they work towards expanding the community. These ones will earn gold points that would be based on donations, page views, ad impressions, and premium subscriptions. They will also be able to get gold points in exchange for digital goods. This will create an ideal in-house barter system.
EOS Price Today – EOS / USD
With the integration of EOS, admins will receive EOS-backed tokens rather than the regular gold points, admins will be able to convert their EOS into fiat and other cryptocurrencies such as BTC, ETH, and XRP. They can also hold their points in a platform integrated wallet for investment if they like.
Wong said that Tapatalk intends to list its Gold Points on a cryptocurrency exchange to make it more liquid. He said that they do not intend to host an ICO for the token. He said that he decided to purchase a five-figure stake by investing in EOS. While the EOS integration means more adoption for the blockchain, it also means more traffic insight for Tapatalk. The forum admins will become more responsible about the content quality. This will increase the platform’s productivity overall.
Eos Price Responds To The Announcement
Shortly after the announcement, the market capitalization of EOS was up by 18% around $4.002 billion. The price was up as well at $4.44. Keep in mind that the entire cryptocurrency market started surging around the same time. So, it is difficult to pin the price surge of EOS on the announcement. While the announcement contributed, EOS must have been responding to the market conditions at the time.
At the time of writing, EOS had lost all its recent gains trading at $3.56. This shows that it is down by 18.71% against the USD and down by 12.13% against BTC. The 24 hour trading volume is $2,570,313,619 and the market capitalization is $3,229,202,018.