Ethereum (ETH) vs EOS (EOS) – Which One Will Win In The End?One of the obvious differences between Ethereum (ETH) and EOS (EOS) is age. While EOS came into being in 2017, Ethereum has been around since 2014 and that is significant in the cryptocurrency space. Being the newer blockchain, EOS was meant to be an improvement on Ethereum.
The platform of EOS intends to involve both vertical and horizontal scaling with a view of increasing the speed to millions of transactions every second. This way it will be possible to offer enterprise solutions at the industrial level while also not leaving out everyday users. If this goes according to plan, the current transactions speed of Ethereum would be surpassed significantly thereby established EOS as a blockchain development authority.
Besides improved scalability, EOS was designed with flexibility in mind. This is in view of the fact that complaints have been made concerning the fact that on Ethereum when one application stops working on the blockchain network, the performance of other applications is also affected. EOS aims to solve this issue by suspending the problematic app until the code has been updated by block producers. With EOS the various parts of an application can be disabled as well as enabled all at once. As an example, if an application provides both social media and shopping modules it will be possible to specify that only one particular part of an app will receive and send data. This improves redundancy.
Another big difference between Ethereum and EOS is the fact that EOS is yet to be deployed fully and is largely theoretical at this point. As such the support and strength that EOS is perceived to possess is based on its potential to a big extent rather than what it has already achieved. Ethereum, on the other hand, is a tried and tested platform which already has a history. The developers behind Ethereum also recognize the weaknesses, flaws, and issues that bedevil the platform and are continuously working on improvements without sacrificing the founding principles of inclusion and decentralization.
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Reputation of leaders
With regards to the people behind the two blockchain platforms, Ethereum has a better reputation compared to EOS. Part of the reason for this is that Brock Pierce, the former chief strategy officer of the firm behind EOS, Block.one, has been tied to scandals ranging from sexual assault to failed ventures. Since this came to light Block.
Another difference between Ethereum and EOS is in regards to network governance and consensus. While EOS uses a proof-of-stake mechanism which is delegated Ethereum employs the proof-of-work algorithm. With the PoW mechanism fixing applications which have stopped working is difficult and this has been exemplified by decentralized autonomous organizations on the Ethereum network suffering fatal failures. This poses a risk for investors as they stand to lose their investments. Additionally, it could result in a hard fork leading to a competing blockchain. This is what led to the Ethereum split resulting in Ethereum Classic (ETC).