EOS Community Launches New EOS Torch Token Project
The EOS community has recently launched the so-called EOS Torch. The intention is to pass the Torch token that was recently mined by the EOS community. In this way, the crypto community will be able to place close attention to the network.
EOS Torch Awareness Grows
A few months ago, the Bitcoin (BTC) community started to promote the Lightning Torch, which made reference to a Lightning transaction that passed through the hands of many individuals in the crypto space.
This initiative was started by the Twitter user holdonaut and was so popular that it even reached Jack Dorsey, the CEO of the Twitter social network.
The EOS torch works in a similar way. It has no monetary value and there is no reason to defect the whole process. There are some critics to this proposal made by the EOS network explaining that it makes no sense for the whole EOS community to move this “torch” token. The Lightning Network is currently being developed and it could eventually become the main way to transact Bitcoin in the future.
The EOS network focuses on decentralized applications (dApps) rather than crypto transactions as other networks such as Litecoin (LTC) or Bitcoin itself.
At the moment, EOS is the fourth largest cryptocurrency in the market. It has a market capitalization of $3.43 billion and each coin can be purchased for $3.78. Litecoin could surpass EOS very soon since it has a market capitalization of $3.42 billion.
Welcome to the #EOSTORCH project. The EOS community has minted non-divisible 1 TORCH token which is being passed from account to account
Join the chat in the telegram channel https://t.co/IZqca4mhYf
— eostorch (@eostorch) March 5, 2019
If you want to see the progress of the “TORCH” you can do it here: https://t.co/Xc9ByJW4w6