Introduction
I am Iniobong Emmanuel, a user of @challengeeos application with username- iniobong3emm and am also a member of the Eos community.
In this article, I shall be suggesting an essential aspect I feel should be in the blue paper.
In the course of this guide I shall be specific to statistical data analytics and investors including the sub areas that needs to be included under analysis aspect.
Eos Blue Paper Audit Review
According to the definition of a blue paper by genuine writing.com, it defines a blue paper as a document which outlines only the technical aspect and specifications of a particular technology.
Technical aspects of a technology enables you to determine the efficiency of a technology if it is safe or not. It solely depends on data logistics.
In addition to the EOS blue paper, I want to suggest a content to it. It is the aspect of statistical data analytics techniques.
Statistical Analytics of Data
Statistical analytics of data involves the collection of data related to the eos network price and marketing capitalization, analyzing it using advance softwares in order to make a valid inference towards the future of EOSIO technology.
Examples of softwares that can be used are;
Statistical Package for the Social Sciences (SPSS)
R software
Python software
Tableu
All of the stated above are essential in also presenting the technical and mathematical specifications of the eos blockchain.
Why is it essential to be part of the blue paper?
It is essential to enable investors understand the conviction why EOS Cryptocurrency should be choosen for investment worldwide.
The contents made by the author in the original blue paper are very essential and also needs to be included the data aspects of the technology.
The following aspect has a very important decision in propelling investors on the eos network by providing data for inferential statistics.
Price
Market capitalization
24 hour trading volume
Market cap/ TV ratio
Circulating supply
Total supply
More detailed reference shall be made to the price and market capitalization of the eos cryptocurrency.
Required Analytics To Be Performed On The EOS Bluepaper.
Relationship Analysis.
Analysis of difference.
Predictive analysis.
Each of them shall be explained in order to present why they are essential.
Relationship Analysis
Therr are important aspect that could contribute in relationship analysis which are
Correlation Analysis Test
Correlation Analysis helps to define the relationship between the price of eos cryptocurrency and anternative paired token that is obvious. This test will convince an investor if such tokens has a mutual relationship with the eos token to find out if it is worth the investment.
Example
The relationship between the price of eos and Bitcoin. It is either positive, negative or zero. If it is positive an investor is convinced of carrying out investment on the network.
At positive level, it means the higher the price of Bitcoin, the higher the price of eos. It's worth investing because of the positive relationship.
So many investors got high hopes that one day Bitcoin will surely get to 100k dollars. They try to look for paired tokens that may be concerned such as the eos.
Point Biserial Analysis Test
A point Biserial test measures the relationship between dichotomous variable and a continuous variable that concerns the eos network.
Example of question it can answer for an investor is;
Does the market capitalization influences the price of eos during a disaster or not?
This question can be answered by using the analysis stated above. It convinces an investor why the need is essential nto invest in eos. I'm quites sure the main aim of working on the eos blockchain is to attract as much investors as possible.
Analysis of difference
Analysis of difference in the price of eos token can prove to an investor if there has been a significant change in the price of eos since the beginning of when it was introduced or invented to the current trend.
It helps to know if there has been significant difference in the price.
Example
Eos stakeholders has adopted several methods for the progress of the token.
Analysis of difference test in the Bluepaper will determine which methods has been significantly efficient on the network.
A preferred test to be used can be the analysis of variance.
Predictive analysis
Predictive analysis is the basic and common type of test in the cryptocurrency airspace. Investors ears are wide opened when they read in between lines of prediction.
Predictive test will estimate a model for the EOSIO network following it trend.
Test such as multiple linear regression is essential. It will combine several factors such as market capitalization and 24 hour trading volume to predict the price of eos if normality conditions exist.
Although price may not be precisely predicted but will be estimated close to the current price.
Logistics regression
Logistics regression will combine several numerical based factors that can be used to estimate if the price has been good or not. It is essential to capture the investors mind since the sole aim of the blue paper is for investors.
Conclusively
Eos network aims at attaining more than the Bitcoin height which is the goal of stakeholders and hope of investors.
However it is essential to take note that they should not neglect sub community under the EOSIO blockchain such as the @challengeeos and Mr Chace who has been up and doing promoting eos tokens on his application as it has contributed to a forward progress.
Secondly, just like Bitcoin who made an alternative to cash liquidity, EOSIO network should also solve a societal based problem and it will enable the token gain more recognitions.
Lastly I appeal once again that sub communities under the eos blockchain should also be considered.
Links
Coin gecko Variables of Eos
https://www.coingecko.com/en/coins/eos
challengeeos application links
Website : https://challengedapp.io/
Play Store : https://play.google.com/store/apps/details?id=challengedac.com.challenge_dac_app
Apple Store : https://apps.apple.com/us/app/challengeeos/id1478759780
Getting Started : https://challengedapp.io/gettingstart
White Paper : https://challengedapp.io/images/chl_whitepaper.pdf