I was picking this title for this post because I saw too many Ethereum vs EOS articles. If blockchains will be mass adopted, there will not be a single blockchain platform. If not(It's hard to believe that now, but you never know), none of them will become so relevant. So, beside technicalities how similar are they?
Ethereum has a vibrant community, an experienced team and many tokens defined in it so it will be really hard to replace ethereum. Soon they will migrate to PoS and the fees for transactions and running contracts will probably get much lower.
EOS comes with all the advantages Steem has. Fee-less transactions, huge number of transactions per second and it relies a lot on steemit and bitshares communities. They are probably using the existing Steem and Bitshares codebase and probably many of their devs joined the EOS.
In the coming year(s) Ethereum will probably dominate the space. Currently, with a few exceptions, blockchain technologies are pure speculations, but soon the blockchain technologies will evolve and will become part of day to day life. Slowly waters will split for ethereum and eos.
Ethereum target is closer to financial sector, while eos is a platform for all kind of apps, like steemit.
As both of them will grow, they will be more similar. Ethereum migrating to PoS and having new dapps to make smart contracts friendly to all kind of people and EOS trying to make as easy as possible to develop apps. To some extent they will be like linux and windows: ethereum having it's own cryptic language, while EOS will be able to run any code compiled to webassemblies.
We can see how difficult it is now for ethereum to take the leading place owned by bitcoin. I will be even more difficult for EOS to challenge an Ethereum which has an active development team. On the other side, there will not be only one blockchain platform and both Ethereum and EOS can co-exist.
I wonder if like with all new technologies there will be a winner takes it all scenario
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Probably the winner will take the largest share from its segment. But it's hard to visualize how the whole blockchain industry will look in 5-10 years. Like today we don't have a single giant internet company.
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Thats true but on the other hand we have google being the winner on search engines, facebook (current :)) winner on social media, apple hardware...
So for smart contracts there could also be one winner, another one for currencies,...
My head starts hurting if I think about it too much.
But its clear the world is changing. Im working for a large telecom company and blockchain technology is clearly pushing for attention :)
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EOS is going to be one of the hottest ICOs on Ethereum network.
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well... right now, it's not a really good one considering that the price of an eos today is more or less equal than first ico day and it's deep has not been stopped yet... I start to think that no new news are a bad signal.. I hope I am wrong...
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Dont think so, for me the best ERC20 token is OmiseGO.. pretty bright future :)
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Thank you for the insight.
This is the first article I saw that spelled it out so plainly. I agree, we have no way of knowing what will take place since the blockchain game is just getting started. However, I believe, too, that being in the lead early on is of great help. Yes there are examples of where that didnt work out (search and browsers are a prime example). Yet we already see apps being developed on ETH.
It is refreshing to see someone who believes ETH will be a big part of the blockchain world going forward. Thank you.
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Ethereum has better backing though so it can easily surpass any competition, nice article though thanks for sharing!
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That is very true.
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Ethereum has already asserted itself and is the main token that is going to be advocated by a lot of people including Russia, Microsoft and Visa. I think EOS will be able to get some people to use their platform but I don't know if it will be as big as ETH and if will really be this 'Ethereum Killer' many people say it is @steem-buzz
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if only they can come together and form one strong electronic currency i will really love to see that works
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good
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This post received a 3% upvote from @randowhale thanks to @steem-buzz! For more information, click here!
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Based off of the announcement EOS put out last night, they won't actually be their own blockchain. Maybe this is a new idea on how to compete in the space? Seems like they're just going to be a tool for people to create their own blockchains. Not sure how this will impact the EOS ERC20 token.
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This post has received a 0.97 % upvote from @booster thanks to: @steem-buzz.
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This post has received a Bellyrub and 5.00 % upvote from @bellyrub thanks to: @steem-buzz. Send SBD to @bellyrub with a post link in the memo field to bid on the next vote, every 2.4 hours. Be sure to vote for my Pops, @zeartul, as Steem Witness Hope you enjoyed your bellyrub!
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really thanx for this information
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I agree. EOS may become something great but I don't think it will replace Ethereum by any means. The market for the blockchain is gigantic. So many things can be replaced by a blockchain infrastructure, and the infrastructure has barely been built on a foundation yet.
Ethereum, as said by Steembuzz, will have it's own audience separate from eos or the likes.
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