EOS VS Ethereum: A Potential Ethereum Killer!

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EOS (EOS) has been touted as the Ethereum (ETH) killer in part because it is expected to support next-generation smart contract platforms, with higher transaction speeds and better features. With the launch of EOS.io mainnet, the EOS vs. Ethereum battle has all but started as the two blockchain projects gunner for developer’s attention on the creation of decentralized applications.

Competition between the two blockchain platforms is expected to drive innovation which should result in smart contract platforms capable of pushing boundaries on scalability.

While the two are focused on facilitating the production of decentralized applications, they differ a great deal when it comes to key aspects of operations.

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Ethereum vs EOS: Decentralized Applications Prowess

Ethereum has made a name for itself as a preferred platform for running smart contracts. Businesses are increasingly using the projects blockchain to handle many tasks, from recording information to conducting transactions.

EOS is now plotting to break the status quo as it moves to curve a substantial amount of market share on the development of DApps. EOS shares a good number of similarities with Ethereum on the way it handles DApps development.

However, given that it is a new project, it has gone a notch higher and leveraged recent technological advancements as it looks to gain a competitive edge. The new technology should allow EOS to process a higher volume of transactions compared to Ethereum and at a much faster rate.

EOS will also leverage new features expected to provide the platform with inherent flexibility when it comes to communication.

Ethereum vs EOS: Programming Language

Ethereum allows developers to create applications using its native programming language Solidity. The requirement has significantly stifled Ethereum’s adoption given that not all developers are fond of the programming language.

EOS should be a preferred destination for developers given that it has no limitations on the type of programming language that people can use to develop applications.

Ethereum vs EOS: Target Market

Ethereum has curved for itself a niche market on the development of decentralized applications. Talk is rife that the platform could soon become a leading smart contract platform for organizations planning to build DApps in the financial industry.

The reason why EOS is dubbed as Ethereum killer has to do with the fact that it operates using a proof of stake consensus protocol. The protocol makes the platform to be less centralized an advantage that allows it to work more efficiently than Ethereum.

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What this means is that EOS remains well positioned to host a diverse range of DApps especially those that require a large amount of resources. The fact that EOS has no transaction fees also means it could elicit strong interest from people who are trying to avoid Etherum blockchain costs.

Ethereum vs EOS: Technical Differences.

Ethereum uses the Proof-of-work consensus protocol that allows its blockchain to process 15 transactions a second. In addition, the protocol makes it difficult for Ethereum to fix broken decentralized applications on the network.

In contrast, EOS leverages proof-of-stake protocol that eliminates a good chunk of Ethereum’s deficiencies. For starters, the protocol makes it possible for developers to freeze the network whenever a broken application is detected. The action can be carried out without affecting other accounts on the network.

Fast transaction speeds is another attribute associated with the DPOS protocol which developers say will allow EOS blockchain to process an average of 1,000 transactions per second.

In addition, EOS is looking to beat Ethereum by allowing its blockchain to process transactions and execute transactions simultaneously

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Bottom Line

EOS has what it takes to take on Ethereum, should it find a way to implement all the noteworthy features. Even though Ethereum has an early mover advantage, it may be a matter of time before EOS ends its streak as a preferred platform for smart contracts and DApps.


About Author

Swati Goyal has an extensive work experience of more than 6 years, in the field of Finance in diverse roles ranging from accounts, financial research to and Cryptocurreny. She follows the Finance market and enjoys writing on it, Swati's hobby is reading, watching movies and television shows.

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