“EOS OR ETHEREUM?” - A TRILLION DOLLAR WAR

The early 21st century saw the internet war between Yahoo and Google and we all know who came out as a clear winner. This analogy can be well applied to the upcoming war between EOS and Ethereum. This will be another one of its kind, and only the superior technology and innovation will win it. It took a good team, and great product and an even greater vision to make Google the ruler of the Internet, and it is going to be the exact same things that will be required, to win in the Block-chain space. There’s an inevitable bloodbath in the near future, and it will rock the foundation of the space, with only one winner.
The question is, EOS or Ethereum?

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Ethereum has already been in this space for 5 years and was launched as an experimental project. EOS on the other hand is due to be released before the mid of 2018. Though this war has been termed as the war of the century but the sad part is that EOS will be a clear winner as Google was because of its superior technology.

In layman’s terms, these are Smart Contract platforms. A Smart Contract is nothing but a code which removes the need for a third party in the validation of any transaction. Both EOS and Ethereum serve as platforms to build decentralized applications based on smart contracts. To understand it better, it is like two parties making a financial transaction without the need for a bank. The trust is embedded into the cryptographic code to eliminate the need for third-party services, by using the consensus of the stakeholders in the network. The stakeholders act as validators for a transaction, and are offered a network fee for each successful transaction. The creators of the block are mathematically chosen, depending upon the value of their stake (They stake their Ether or EOS tokens).

Why can EOS win?

1. From a design stand point, the advantages EOS gives over Ethereum is indispensable. Comparing Ethereum and EOS is like comparing the floppies of the 1990’s to the hard disks or even the cloud of the present day.

1. The consensus algorithms being used by both are poles apart. In Ethereum the trust is solely in the hands of the miners and more the miners the more is the trust unless someone has 51% hash power. EOS is more decentralised and has a better trust mechanism called as the DPOS, here the verifiers as well as the people transacting are a part of the consensus. The margin of any fraud in minimalistic on EOS.

Can Ethereum beat EOS if it is scaled?

We cannot change the engine of an automobile while it is running. Ethereum is already a running vehicle, and to beat EOS, the fundamental functions of the Ethereum architecture has to be changed. It is equivalent to changing the engine of a vehicle while it is running.

Conclusion:

We can now clearly pronounce EOS as the winner by the end of 2018 but we also need to keep in mind that Ethereum has the first mover advantage and has many DAPP’s working on it like the Cryptokitties, and has a very interactive community of engineers working on the project. The visionary in Vitalik Buterin is also one of the main strengths for the Ethereum foundation. But the engineering and programming difficulty could very well be the final nail in the coffin if it is not fixed.
Ethereum at present is not a long term solution for developers and users. EOS however, has the potential to fill the technological and fundamental gaps present in Ethereum Architecture.

As the saying goes “Time gives the answer for everything” but let’s give Time Sometime.