Blockclain

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Blockchain by its term in English, is nothing more than a chain of blocks, whose data structure is decentralized and stored together (blocks). It is a system which allows all types of transactions that are verified by users throughout the systems called "nodes" which are registered in totally secure blocks and without the need for any intermediary.

Blockchain was born from the need to decentralize the economy since when carrying out a transaction of this nature it has to go through a bank which verifies our identity, for these and more services provided these entities make charges (commissions), they keep our information and then trade with them, that is why the blockchain came to break with all this stereotyping and monopoly, changing the north of the economy by no longer depending on an entity to carry out transactions and records.

This technology was created by Stuart Haber and W. Scott Stornetta in 1991 when the first work was carried out on a chain of secured blocks. It took many years for the word blockchain in Spanish to be a trend since it was not until 2008 with the arrival of bitcoin that its popularity increased. It is currently being demanded by thousands and thousands of commercial applications which has caused exponential growth and which is projected to continue increasing, by 2022 it is expected to have grown 50% compared to current numbers.

Currently there are a large number of blockchain platforms, many of which differ from each other due to their technological characteristics and their degree of maturity. Next we will compare two of them, such as Ethereum and EOS, at a glance, two somewhat similar platforms but which have their notable differences.

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Etherum

Since the arrival of Bitcoin, Ethereum is one of the most creative and innovative proposals in the blockchain world and its platforms were founded in 2014 by the Russian-Canadian programmer Vitalik Buterin. Ethereum is a public blockchain, which is used for the programming of smart contracts, stores all kinds of data and financial transactions, not everything is there in Ethereum, you can also create software for games and other applications by storing data from the same in this computer network.

Ethereum works without authorization unlike other platforms which, if required, uses the proof-of-work system which can be relatively slow in processing speed compared to others. Ethereum owns its ether token which is ranked number two behind bitcoin with a current market price of $ 2,272.01.

EOS

This innovative project was developed in 2017 by the company Block.one, whose main objective is that programmers can accept blockchain technology in the simplest and most efficient way possible so that the network has a less complex use than its competition. EOS is also a platform that allows the creation of decentralized smart contracts, online games or exchanges.

This multipurpose platform requires authorization, uses the new Delegated Proof of Stake (DPOS) consensus algorithm, which allows horizontal or vertical scaling of decentralized applications (dApps). EOS also has its token which is positioned in 21st place with a market price of 7.36 US dollars for each token.

Today we can have multiple blockchain platforms, Ethereum could be said to be the pioneer in this technology and EOS was, so to speak, its first strong competition, and today there is much more competition and diversity in this world of blockchains.

We can observe that the two handle smart contracts, creation of decentralized applications, games or decentralized Exchange. The real differences can be found in that Ethereum is a platform which does not require permission while EOS does require authorization, its speed while EOS can process millions of transactions per second Ethereum 1.0 can process only 30 transactions and Ethereum 2.0 a total of 1000 per second.

Another of its differences is the consensus algorithm while EOS uses the new Delegated Proof of Stake (DPOS) consensus algorithm, Ethereum is based on proof of work. its token, while ether (Ethereum token) is ranked number 2 behind only Bitcoin and the EOS token is currently in number 21 with a much lower price compared to Ether.

Conclusion

After the explosion of what was bitcoin, the world of blockchain and crypto assets began to evolve and take an important turn in our lives, especially within the world of economics and finance, accustomed to a type of centralized economy. and depending on some type of body or bank, blockchain platforms have come to revolutionize this entire monopoly, giving their users independence and freedom when carrying out all kinds of transactions.

Ethereum, one of the main blockchain platforms positioned for years in this world of cryptocurrencies, continues to provide its users with reliability and security when making their transactions, creation of games or decentralized applications.

We can also observe EOS a more recent platform than Ethereum but no less efficient, being the fastest platform in data processing, its easy handling and efficiency, its consensus algorithm is one of the most important bets in the market giving its investors the innovation, efficiency and security required.

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