EOS: a threat to Ethereum?

Date:

2018-05-06 16:30:08

Views:

3486

Rating:

1Like 0Dislike

Share:

EOS: a threat to Ethereum? Source:

Despite the fact that Ethereum was the first of its kind, tryptomer watching with interest the development of other platforms, smart contracts, which are not Ethereum against slipping from the throne of the leader. Why is it important to explore this new market? Because many bichenovii enthusiasts realized the potential of Ethereum, until he surpassed Bitcoin in several key points. Lately we are hearing more and more about EOS. Let's do some research?

If you Google "EOS", you can find the Forbes article, which goes something like this:

"Top cryptocurrencies sniffing dust EOS".

If you look at coinmarketcap.com it will be clear that in this title there is truth.

We not going to talk about the price, but the token EOS significantly increased in this setting in recent times and entered top-5 of cryptocurrency by market capitalization. It is important to understand that the EOS hasn't even been launched — it ERC20-token on the Ethereum platform. However, as other platforms of smart contracts for supply chains, for example, AMB and VET. Usually the developers of these ERC20-tokens guarantee the possibility of exchanging tokens further on native cryptocurrency, so it will be with EOS.

the

Why is EOS so much interest?

Most of this price movement EOS can be explained by the fact that the EOS, according to the developers, can solve the problem of Ethereum: scaling. During cryptostome that was in December-January, the price of transactions in Ethereum was a few dollars, for many DApp (decentralized application) on the platform was too expensive. Especially if a function token has been entertaining (games).

EOS promises to solve the scaling problem using a different consensus mechanism called Delegated Proof of Stake ("delegated proof of share ownership"), or just DPoS. Read more about the differences between Proof of Work and Proof of Stake we . If you understand what a PoS, DPoS will be very similar, but the number of nodes (nodes), capable of confirming the transaction, there will be less, so the network will be more democratic. She will be able to process more transactions because it will be less decentralised, and therefore less secure.

the

Arguments against EOS

DPoS checked only partially. DPoS blockchain already using Notably, Steem and Bitshares. Dan Larimer, technical Director BlockOne, played an important role in creating all three of these networks. But DPoS have their weaknesses. Not so long ago against the DPoS expressed Buterin acne, but to understand his argument is quite difficult to mere mortals. In any Protocol transaction confirmation will be vulnerabilities at the level of design, but how they will behave — will be known only when people begin to use EOS on a large scale.

Another argument against the use of EOS for application development is that Ethereum is already offering DPoS for DApp at the expense of third-party applications in the Network Loom. Loom already started the application StackOverflow in the form of third-party chain DelegateCall that allows users to earn karma in this third-party chain and then upload it to the main Ethereum network in the form of ERC20-token. This approach satisfies both sides: users benefit from quick and cheap (or free) of the transaction using the application but can safely store the token in the main Ethereum chain, which uses PoW or PoS will use in the future.

The Main criticism of EOS is that it belongs to Brock Pierce. But although Brock Pierce's questionable past, it would be a logical mistake to assert that as the EOS network is a Scam based only on this observation.

the

Can platforms for smart contracts to be several?

For a Long time, many people believed that the cryptocurrency market will declare one winner, which will dominate all other cryptocurrencies, will take their share. But now we have literally thousands of crypto-currencies and tokens that are fighting for users, developers and miners. In retrospect this makes sense because we are not used to use a single currency. Everything points to the fact that smart contracts will be the same. Can Ethereum, EOS, Cardano, NEO and others to co-exist together? Most likely, among these platforms, start up a serious fight, because space for development is not too big. The seller can easily make different types of cryptocurrency as payment, but the application developer will develop them for different platforms — he will choose the most convenient and appropriate. Actually, it developed the Internet and continues to develop the blockchain. In the first case we see a limited number of protocols, which become dominant at a basic level — for example, TCP/IP and HTTP to send and receive data from the server. We can assume that one platform smart contracts will become dominant in the future.

the

Conclusion

Will be interesting to see how the EOS will show itself after you start the core network. To succeed, EOS will have to earn the love of application developers and users of the cryptocurrency. Although there are different rumors, the number of people who are really interested in using and creating applications on the platforms of smart contracts, is too small. Would EOS a threat to Ethereum? It is too early to tell. But you can do your own research.

Recommended

CRYPTOMACH / Maximum exchange rate of Bitcoin in the future, the output of the crypts on the map, Ycash and the Board of Finance

CRYPTOMACH / Maximum exchange rate of Bitcoin in the future, the output of the crypts on the map, Ycash and the Board of Finance

the long-awaited summer. Niche cryptocurrency supported the event and gave unusually hot week. During the last seven days, we learned about the new line of graphics cards from AMD, the mining in TON and hard forks . In addition dealt with the profita...

Co-owner Bitcoin.org Coinbase Pro ridiculed and called a stock exchange Scam

Co-owner Bitcoin.org Coinbase Pro ridiculed and called a stock exchange Scam

co-Owner Bitcoin.org and most popular forum about cryptocurrency Bitcointalk.org Cobra called Coinbase Scam Pro trading platform American crypto currency exchange Coinbase. In his tweet he wrote «if you read Coinbase Pro backwards, get the word ...

The Ethereum is a cryptocurrency Scam. A new report Chainalysis

The Ethereum is a cryptocurrency Scam. A new report Chainalysis

When people learned how to create a new cryptocurrency and began to build their infrastructure like marketplaces, in the field began to appear and fraud. According to blockchain auditor Chainalysis for the past two years, fraud in the ecosystem has s...

Comments (0)

This article has no comment, be the first!

Add comment

Related News

Analyst with wall Street explained why you should not buy bitcoin right now

Analyst with wall Street explained why you should not buy bitcoin right now

wall Street does not love cryptocurrency and I think it is the root of many evils. Nick colas is an exception. He actively analyzes the situation with Bitcoin and other coins and shares tips. Now he recommends to wait with market ...

The greatest fraud or businessman-loser. How does mark Karpeles after breaking the Mt.Gox

The greatest fraud or businessman-loser. How does mark Karpeles after breaking the Mt.Gox

Once the largest Bitcoin exchange Mt.Gox in February 2014 stopped trading. The reason is that the hackers who stole from the wallets of users, 850 thousand bitcoins. The blame for the incident fell on the founder of Mt.Gox Mark Ka...

South Korea will cancel the ban on ICO

South Korea will cancel the ban on ICO

In February, the South Korean government about the decision not to ban transactions with bitcoin in the country. Then it was reported that the Ministry will be engaged in pre-trade transparency, not ban digital money. Now official...

Startup from Singapore has released a Bitcoin banknote

Startup from Singapore has released a Bitcoin banknote

In February, the canadian Bank VersaBank about the plans to create the world's first a digital safe to store cryptocurrency. Assets the Bank's clients will be stored on servers with special protection from hacking, and the securit...

Switzerland's largest Bank will not trade cryptocurrency

Switzerland's largest Bank will not trade cryptocurrency

At the end of last year, Switzerland's largest Bank UBS to merge with Barclays, Credit Suisse, HSBC, MUFG and State Street to create your own coins on the blockchain. The token will be called Utility Settlement Coin and make Bank ...

What is cryptocurrency Dash? A brief overview

What is cryptocurrency Dash? A brief overview

Today, probably no one left who knows something about bitcoins and cryptocurrencies. But despite the fact that Bitcoin is a perfect example of a decentralized, peer-to-peer cash when it comes to privacy, he has little to offer. In...

A Chinese billionaire has bought 10 thousand bitcoins in the beginning of the year and earned a few million

A Chinese billionaire has bought 10 thousand bitcoins in the beginning of the year and earned a few million

At the beginning of the Chinese year of the business angel and the owner of the service Meitu Cai Wensheng, made a fortune in the crisis of the dot-com announced its intention to accumulate 10 thousand bitcoins. Now he said that h...

CB wants to transfer a system of transfer payments on the blockchain in the next year

CB wants to transfer a system of transfer payments on the blockchain in the next year

In mid-April in Kaliningrad hosted a forum IPQuorum on the theme of intellectual property. It called for including Russian officials, who positively on the blockchain. Now about using technology thought the Bank of Russia. Accordi...

Changebot resumed work. The largest p2p exchange of cryptocurrencies in the Telegram back in business

Changebot resumed work. The largest p2p exchange of cryptocurrencies in the Telegram back in business

In late February, we review the Telegram-bot for buying and selling cryptocurrencies. Changebot is the guarantor of the transaction and ensures the safety of both sides. A few days ago, the service stopped working, but now everyth...

Charlie Shrem: may will be the last opportunity to see Bitcoins cheaper than $ 10,000

Charlie Shrem: may will be the last opportunity to see Bitcoins cheaper than $ 10,000

In late April, a trader Dmitry Lavrov for major cryptocurrencies. Then, the expert predicted the overcome a mark in 9000 dollars and it is likely to jump to 12 thousand. The founder of the cryptocurrency exchange BitInstant Charli...

Richard Branson has warned of Scam projects, acting on its behalf

Richard Branson has warned of Scam projects, acting on its behalf

last week that scammers have learned to fake verified Twitter account. During a failure of the Telegram, the attackers copied the account of the founder of the messenger of Pavel Durov and earned one bitcoin. Now CEO of the Virgin...

Economist Nouriel Roubini: Bitcoin and the blockchain is just nonsense

Economist Nouriel Roubini: Bitcoin and the blockchain is just nonsense

In March, a prominent economist and Professor at new York University's Nouriel Roubini that the stock market has no prospects in the near future, he will collapse, and the value of Bitcoin will fall to zero. Now he spoke out again...

Bitcoin can replace cash in 10 years

Bitcoin can replace cash in 10 years

Bitcoin returns to the main strip major publications. The world's largest bitcoin's break of $ 10 000 per BTC, returning to the powerful 200 day movement average support in 9800 dollars. Last week . Don't forget that bitcoin will ...

Know your heroes: five biggest cryptocurrency Scam in the history of mankind

Know your heroes: five biggest cryptocurrency Scam in the history of mankind

with Bitcoin in 2009 appeared decentralized network. A few years later, entrepreneurs began to create on their basis own products. a network Ethereum, the second by capitalization cryptomnesia, which has partial responsibility for...

Mastercard has lost customers due to restrictions on the purchase of cryptocurrency

Mastercard has lost customers due to restrictions on the purchase of cryptocurrency

In February of the payment system Visa and Mastercard have equated the purchase of cryptocurrency with a credit card for withdrawing cash and raised a Commission for such transactions. It has become one of the causes of customer c...

In Moscow detained the drug dealer who sold cocaine for bitcoins

In Moscow detained the drug dealer who sold cocaine for bitcoins

Bankers and government officials regularly accused of cryptocurrency in the mass of sins. With their help, ostensibly to Finance terrorists, launder money and sell illegal substances. Usually the magnitude of the panic is exaggera...

Reddit will resume accepting payments in bitcoin in the near future

Reddit will resume accepting payments in bitcoin in the near future

At the end of March the largest forum Reddit to pay for the premium subscription with bitcoin and other coins. The reason was the failure of the service Coinbase Commerce. Now the technical Director of the company Christopher Slou...

In Moscow caught the drug dealer who sold cocaine for bitcoins

In Moscow caught the drug dealer who sold cocaine for bitcoins

Bankers and government officials regularly accused of cryptocurrency in the mass of sins. With their help, ostensibly to Finance terrorists, launder money and sell illegal substances. Usually the magnitude of the panic is exaggera...

The inhabitant of Omsk was sentenced to three years in prison for

The inhabitant of Omsk was sentenced to three years in prison for "selling" mining farms

In mid-March we on 54-the summer inhabitant of Omsk. He is charged with stealing two million rubles under the guise of selling mining hardware to mine, which he passed on the article 159 of the criminal code. The court held fraud ...

News mining-pool 2Miners. April

News mining-pool 2Miners. April

2Биткоина decided to publish monthly progress reports on the project . of April for our favorite mining pool was cool. We have added three new coins introduced some functions for professional miners and have updated the kernel poo...