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A Battle Between Titans – Ethereum vs EOS

EOS (Ethereum Operating System), ranked 5th in regards to its market capitalization of over $12 billion. It currently trades at around $13 USD for each token (as of 6/20/18). In February, the cryptocurrency economy experienced a crash.

EOS cryptocurrency demonstrated that it was able to keep its stability. Other altcoins experienced a dramatic fall in cost. Comparatively, Ethereum (ETH) declined with 25% within the last month.

ETH is the 2nd largest coin, with a market cap of $60 billion dollars, currently trading at approximately $500 USD.

Additionally, there is a difference in the market cap and cost. A lot of crypto experts say there are indications which hint that EOS has the opportunity to exceed ETH.

What is EOS?

EOS (Ethereum Operating System) is a cryptocurrency that employs a blockchain network that offers a stable environment where decentralized software can be developed.

Ethereum Operating System offers a fundamental solution to scalability.

It incorporates a delegated proof-of stake protocol which basically works like a system of dedicated delegates, which are responsible for confirming transactions.

Ethereum Operating System highlights critical issues that plague blockchain and tries to resolve the issue of speed, scalability, and versatility.

EOS claims their protocol can process a higher transactional volume. Furthermore, it produces rates ranging as large as 100,000 trades per second.

The authentication procedure is separate from the implementation process.

It also claims that it is capable of solving the issue of transactional fees that has become a problem in crypto trading ever since Bitcoin’s price jumped.

EOS proposes horizontal scalability to eliminate trade fees.

EOS runs on its own blockchain called Block.one, and it is a decentralized platform that permits developers to test and create multiple decentralized programs.

What is Ethereum?

Ethereum’s token,”Ether,” operates similarly to Bitcoin. The blockchain validates and confirms these transactions.

Ethereum implements a proof of work (PoW) consensus version and has the advantage of becoming the first powerhouse in the smart contract an decentralized app (dApp) scene.

Users criticize Ethereum’s high transaction fees

Ethereum has a lack of scalability in reduced trade (approximately 15 per minute ), latency in transaction conclusion (6 minutes to affirm that a transaction), and the low proportion of network transactions that derive from applications.

However, there have been a lot of speculations from the crypto area regarding the possibility of EOS outclassing Etereum.

Ethereum plans on becoming more scalable cryptocurrency by implementing plasma, sharing and shifting to a proof of stake protocol. However, if Ethereum fails to accomplish these tasks, it is very possible that EOS will be the leading intelligent contract stage for the following reasons:

  • No Fees: Advances in the EOS network utilize inflation. Block founders receive 1 percent of the annual inflation. Furthermore, token owners are paying fees via increased distribution instead of the end user.
  • Scalability: Ethereum Operating System finalizes cryptocurrency trades in a single second and has a throughput of up to 6,000 transactions per minute.
  • Token Model: Ether token covers network fees. Additionally, the token value will not rise compared with the network adoption.
  • EOS tokens use network resources. A user with 1 percent of nominal supply is rewarded with 1 percent of network ram, compute, bandwidth and storage. Users do not need to pay transaction fees. Instead, they must own or lease EOS tokens.

Bitfinex Exchange

Bitfinex, a major exchange, announced it will base a decentralized market on EOS’s Block.one blockchain platform. EOSfinex is the new exchange.

Additionally, it will not only allow scalability of EOS for a dApp system but also solve the issue of high transaction fees that are usually charged on exchanges.

Evidently, if the Bitfinex job becomes successful and much more innovation on the EOS platform is accomplished, EOS will become a rival to the biggest coins in the crypto space.

Conclusion

Ethereum Operating System nevertheless has a long way to go, however if Ethereum fails to boost its own difficulties in time, Ethereum Operating System will almost certainly become the platform of choice that developers will use in creating consumer-grade software.

Real estate investors are itching to use blockchain technology for smart contracts and fractal ownership of property.

Meanwhile, all that cryptocurrency fans are able to do is wait and watch, as such takeovers will not happen overnight.

Nicolas Pupo-Mayo specializes in the current and future application of blockchain technology to the international real estate market. His background is in homeland security, international political affairs, and communications.

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