This coming Saturday proud Irishman Conor McGregor will face the proud Russian Khabib Nurmagomedov. The fight will decide the UFC lightweight championship and propel the winner to the forefront of the industry. This mighty battle between east and west is played out in the cryptoverse between Ethereum and EOS. Between Daniel Larimer and Vitalik Buterin. Ethereum and EOS are at the forefront of the smart contracts platform battle. This battle is starting to come to a head. The crypto market has contracted massively since Jan/Feb. We are seeing a veritable purge of weaker projects and a relative flow of investors into the relatively few viable projects listed on coinmarketcap.
Bitcoin and BitcoinCash might be the most virulent coin debate but the EOS and Ethereum clash seems far more interesting. Buterin’s vision of a streamlined business world replete with smart contracts looks like it might crash on the rocks of poor scalability. EOS has the advantage of learning from Ethereum’s journey to date. Besides this, EOS has a war chest of $4.2 billion from the most eye catching ICO ever. The burning question is who will prevail? To date Ethereum has been out in front as evidenced by it’s number 2 spot in the marketcap rankings and it’s Coinbase listing. However, how long will this last?
Throughput – EOS & ETH
One of EOS’ strongest points is the ability to handle a massive amount of transactions due to its high scalability. The network can handle 50,000+ transactions per second, compared to Ethereum’s current 15TPS. EOS’ near-zero transaction fees are an added bonus. This massive differential represents a crucial advantage for EOS. The EOS platform can basically be used to launch an infinite number of dApps and blockchains. Whereas we already know the Ethereum platform has historically been unable to handle high transaction volumes.
dApps – EOS & ETH
The EOS platform makes the coding of dApps easier due to its use of regular code instead of machine code. It makes deployment and execution of smart contracts easier to read and inspect on the blockchain. The EOS platform is designed to be used as it is, without any restrictions. It represents a true off the shelf blockchain solution. This is in sharp contrast to the Ethereum Virtual Machine which some developers find restrictive.
Furthermore the great dApp dream of Ethereum has hitherto rung hollow. We are yet to see the game changing ETH based dApp that brings the masses onto the ETH ecosystem. The reasons for this extend far beyond technical capability. However there is now a real fear that talented developers will take their ideas to more capable and easier to use platforms. EOS and possibly TRON look best placed to take advantage of this possible development.
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