Ethereum is the most popular and the first blockchain to offer token creation services. Ethereum is an open-source decentralized blockchain with smart contract capabilities for secure transactions on its network. It holds a strong position in the cryptocurrency market with a high level of trust due to its maturity. ERC-20 is the standard used by all Ethereum-based tokens. Most of the altcoins in the market are based on Ethereum as an ERC-20 token. It has a large community that uses Ethereum to develop the technology behind the cryptocurrency and many applications which we use today.
- Privacy and security have always been major concerns for Ethereum. Ethereum allows private data to be encrypted and only shared directly with the parties involved.
- Ethereum has a great user base which encourages developers to deploy their applications on the Ethereum network.
- Most of the altcoins in the market use Ethereum for high-speed, secure, and private transactions.
This article focuses on discussing the difference between Ethereum and EOS. The following topics will be discussed here:
- Introduction To EOS.
- Ethereum vs EOS.
- Which one is Better?
Introduction to EOS
EOS is an alternative to Ethereum that exists in the crypto asset market. It also features an open-source decentralized blockchain with smart contract capabilities like Ethereum. Businesses and developers around the world use EOS to create secure, transparent, and deterministic digital infrastructure. EOS is powered by a strong community dedicated to building and innovating on the platform.
- EOS is different from other blockchains because it provides updatable smart contracts and is built on C++.
- EOS is also designed to allow a higher level of configurability, which is especially valuable for building and managing programmable infrastructure.
- EOS is an open-source platform that provides industry-leading transaction speeds and sub-second block time delay rates, allowing developers to transact at lower costs through efficient resource management.
Ethereum vs EOS
Below are some of the differences between Ethereum and EOS.
|
Basis |
Ethereum |
EOS |
|---|---|---|
|
Scalability |
Ethereum can currently process up to 15 transactions per second, but not fast enough to compete with payment systems. |
According to EOS engineers, the platform can already process 10,000 transactions per second. |
|
Network fees |
Every transaction on Ethereum requires gas (the cost of doing the transaction on the network). Prices are affected by transaction complexity and network volume. |
EOS operates uniquely and has no transaction fees. Instead of paying gas to cover transaction fees, users rent their tokens to cover the bandwidth. |
|
Smart Contract |
Solidity is a programming language designed for developing smart contracts that run on the Ethereum Virtual Machine. |
EOS is different from other blockchains because it provides updatable smart contracts and is built on C++ without disrupting the blockchain network. |
|
Governance |
Ethereum is currently working on a proof-of-work consensus and plans to move to a proof-of-work/proof-of-stake hybrid. |
EOS uses graphene technology and utilizes delegated proof-of-stake consensus. |
|
Denial of Service |
In Ethereum, miners choose high-fee transactions to join the blockchain, and the probability of low-fee transactions being blocked is very high due to limited bandwidth and processing power. |
Owning EOS tokens can provide users with corresponding disk space, network bandwidth, and computing power. |
|
Design philosophy |
Ethereum is a great neutral platform. It does not have feature packs that enable users to develop their own feature-based sub-portals in contracts. | EOS has features such as cryptography and blockchain communication. It also has many other features, from a web toolkit for helping interface development to various other options such as self-describing database schemas. |
Which One is Better?
Ethereum and EOS are two of the most popular open-source decentralized blockchains with smart contract capabilities in the world. EOS has been called the “Ethereum Killer”. The Ethereum altcoin is the second largest cryptocurrency by market capitalization. The main advantage of Ethereum over EOS is that Ethereum tries to implement a proof-of-stake consensus mechanism. If Ethereum fails to low transaction fees then EOS may overtake Ethereum as the ultimate decentralized application platform. Still, there are a number of factors that influence the results of Ethereum vs EOS. I hope you are able to understand the difference between Ethereum and EOS.