Two top coins that occupy leading positions in the crypto markets and both repeatedly showed both good growth and a drop in prices during the end of last year and until today. Despite this EOS more than Ethereum, demonstrated the ability to get rid of the pressure of bears and showed a relatively good resistance in case of failures. EOS is one of the few digital assets that broke their January highs and set new ones. Ethereum, on the other hand, has lost more than 60% of its value from traded highs. Due to the relatively good performance and growth EOS called Ethereum “killer”.
EOS – a new decentralized ecosystem
EOS is a protocol designed to create a new ecosystem for decentralized apps. EOS uses the consensus algorithm Proof-of-Stake, offering solutions to various problems associated with the blockchain. It develops an infrastructure that will provide the highest level of scalability in the industry, and recently launched its own mainnet.
The decentralized EOS system is often compared to Ethereum, but certainly the EOS platform isn’t the only competitor to Ethereum. There are numerous cryptos that entered the market, some of which were much better than Ethereum, in dealing with various issues that Ethereum failed to achieve. Looking back, the addition of EOSIO to the industry will revolutionize and implement solutions to vital issues that haven’t been addressed by any of the existing protocols. This is due to important issues related to scalability, transaction speed, fees and flexibility. According to the EOS team, their platform supports more than 100,000 transactions per second, which is a record indicator. They also developed ways to separate some decentralized application processes, for example, the authentication process was disbanded from the execution process.
In addition, EOS claims that making transactions in the blockchain industry should be absolutely free, and this can be realized by integrating horizontal scalability, while Bitcoin has some of the highest commissions for transactions.
Will Ethereum survive the battle with EOS?
Many experts in the industry from time to time said that EOS is the real Ethereum “killer”. Ethereum is the leader of decentralized apps that offer simple and flexible solutions when launching tokens. Nevertheless, Ethereum is still at the development stage and it’s working to become much more scalable through the introduction of plasma, and it will also switch to the Proof-of-Stake protocol.
In the future, Ethereum should make the aforementioned improvements to have its trumps in the battle with the EOS. For example, the bandwidth for EOSIO is 6000 verified transactions per second, while Ethereum, on the one hand, is struggling due to the large number of dApps on its platform. Another important problem is the fees, the costs for the Ethereum transaction are borne by the users. On the other hand, the cost of the EOS transaction is paid using inflation. Annual inflation of 1% will be distributed among block producers every year.
EOS breathing down Ethereum neck
Ethereum is a mature platform in the industry, and EOS is a relatively new one. Since EOS at the beginning of its journey as a platform for decentralized applications, it has the potential to rise and compete with Ethereum. Will EOS “kill” Ethereum, this is one of those questions that we say “time will show”, but now we can say that EOS has already approached Ethereum and already breathing down ETH neck.