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Published On: Fri, Apr 6th, 2018

Is EOS the Ethereum Killer?

A lot of people in the digital currencies world are asking if the emergence of EOS could the be the end of Ethereum’s preeminence. This new alternative developed by Dan Larrimer combines the capabilities of various platforms and technologies to herald privacy, speed, and affordability of financial technologies. Dan Larrimer also has other successful projects under his belt including; Graphene, BitShares and Steem technologies. EOS uses Delegated Proof-of-Stake much in the same sense like other superior technologies.

EOS has emerged as a strong alternative because it has many features that Ethereum doesn’t. Some of them are:

  • The power of the technology
  • Unmatched scalability
  • Support of Proof-of-stake authentication

 


The Structure of EOS

EOS is still under development. Dan Larrimer recently resigned from other responsibilities to put more focus on this project. Much of the nitty-gritty details about the program are thus not available yet. From the little that is known, however, this project will not be only about smart contracts or scalability options. Instead, the improvement of design and features will make it much better than Ethereum.

EOS also has a more sophisticated blockchain that allows for a Network Allocation Bandwidth system to manage the sharing of the blockchain. This is in sharp contrast to Ethereum which relies on the old binary system. Fixing problems in the EOS system will also be quick and efficient.

The whole system is supported via a central database that manages communication between the different entities and facilitates security and transparency. The level of clarity needed for the system to work removes any flaws that would otherwise limit the older systems. The supremacy of the thus lies in its ability to effectively disseminate communication and messages that are accurate and specific.

The Insights about the System from Its Developer

According to Dan Larrimer, smart contracts are processed over the chain, each with its own account, and this ensures that interoperation between the accounts is maintained. He also adds that as of now, no blockchain can match up to EOS in terms of reliability and features. He reckons that the project is an evolution of the powerful Steem and Bitshare applications. Regarding the support of these applications on the platform, Dan says that it is possible although the prerogative on their use lies on the community. The information about token distribution on the platform will be made available at a future date.

In Summary

EOS still has a long way to go. The platform is however not only a great idea but could also translate to a great project if successfully completed. The features that come with the financial system signify what should be the norm in the current era. The team of developers undertaking the project is also transparent enough to provide updates via various platforms.

Whether EOS will become an Ethereum killer remains to be seen. From the foundation that has been laid and the technological support behind the project, however, it is natural to expect that this platform will definitely trounce the dated and unreliable Ethereum.

Author: Andrew Cioffi

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  1. Is EOS the Ethereum Killer? - Today Coins News says:

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