While existing solutions offer to solve just one problem at a time, the MoonX Family offers a highly secure, useful and easy-to-use product based on private blockchain. On paper, the EOS project looks set to disrupt the Ethereum network as it will utilize superior, more efficient technology and mechanisms. However, the Ethereum network has a market cap of around $30 billion and has a strong case of first mover advantage. What the EOS team decide to do with the large quantity of Ether they have amassed will also be a major factor in determining who comes out on top. EOS will utilize an ownership model, and here EOS token holders will gain a proportional share in the network bandwidth, storage, and processing power. Users will receive a predictable amount of network bandwidth and computing power with the option to upgrade by purchasing more EOS.

• Decentralized applications (Dapps) can run on these blockchain “supercomputers” and power the next generation of decentralized internet.
• What is to be noted is that the platform offers a multitude of blockchain solutions when compared to its competitors.
• As of the date this article was written, the author does not own cryptocurrency.
• EOS is the crypto token native to the EOS.IO blockchain protocol and network.
• The original ETH blockchain now exists as Ethereum Classic (ETC), and most of the development community’s efforts go into maintaining the current blockchain, called Ethereum.

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EOS doesn’t require the use of a third-party programming language, so its widespread acceptance may lead to its adoption over Ethereum. EOS will use a consensus model that helps avoid the need to depend on mining or staking. They also plan on using a constitution, which allows users to be subject to a single set of rules and regulations. Ethereum works on a hybrid Proof-of-Work/Proof-of-Stake system, with the intention of eventually relying solely on Proof-of-Stake consensus.

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• The EEA is a group of Fortune 500 companies, startups, blockchain projects, etc. dedicated to helping enterprise-level adoption of Ethereum.
• EOS has the potential to become a competitor in the blockchain and cryptocurrency market, but it is still in a nascent stage.
• Both platforms target the same market and audience, which is the development community.
• Larimer claims that one day, EOS will handle millions of transactions per second (TPS).
• Iain Taylor grew up in Northern Ireland, and is currently living in Halifax, NS.

EOS improves on several aspects of Ethereum, such as scalability and transaction speeds. However, EOS has its fair share of critics who deem it to be too centralized. EOS is allegedly capable of processing up to 10,000 transactions per second. The main reason why EOS is so fast is due to its DPoS mechanism (more on this later). However, EOS’s higher level of centralization grants improved scaling.

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That’s a far cry from its all-time high of over $22, reached just six months ago. Ethereum is working on scaling, but may have issues with backward compatibility. So, ETH is more difficult to adopt because it requires a programming language, Solidity.

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There are hardly any other cryptocurrencies with a rivalry as tense as Ethereum and EOS. Coming in as the number one and number two decentralized app (dapp) platforms by market cap size, both cryptocurrencies polarize crypto enthusiasts as to their preference. If Ethereum doesn’t lower the prices for transactions, it will be difficult for it to continue to exist with high standards of performance. If EOS can think of a way to keep up with Ethereum’s success, then EOS might overtake Ethereum as the ultimate decentralized application platform. But the Ethereum Foundation says that Ethereum 2.0 is just a network upgrade, instead of an entirely new system. Now, Ethereum 1.0 has been renamed the “execution layer,” which contains smart contracts and regulations.

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Ethereum and other cryptocurrencies might seem like they are only assets for investors, but that is only a piece of what the technology offers. The real opportunity in both cryptocurrencies is in the blockchain protocol that developers can build upon. Developers can build whatever their imaginations https://www.tokenexus.com/ come up with, protocol allowing. Ethereum is a crypto-based platform which was created by Vitalik Buterin. The original ETH blockchain now exists as Ethereum Classic (ETC), and most of the development community’s efforts go into maintaining the current blockchain, called Ethereum.

• We advocate for you to do your own research and make educated financial decisions.
• This is also significant because if these mining pools are taken down, it can have a negative impact on the cryptocurrency and grind transaction validation to a halt.
• We’ll be the first to report on major developments to help you make the best investment decision.
• The promises of speed, application development, reliability, safety, and more have not, as of August 2024, been tested by a large network to see if the project can live up to them.
• Ethereum’s transactions are becoming more and more popular, with new dApps growing at a rapid pace.

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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. Comparing the two platforms, EOS may replace Ethereum as the dominant smart contract platform. EOS has improved many of Ethereum’s issues is eos better than ethereum such as transaction fees and scalability but remains controversial due to its more centralized model. If Ethereum can implement a proof-of-stake consensus mechanism, EOS may not be able to keep up. However, if blockchain giant Ethereum fails to reduce transaction costs, EOS could overtake Ethereum as the victorious decentralized application platform.

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EOS doesn’t have nearly as many Dapps built on the protocol, therefore speeds are able to maintain at a high pace with low costs. This is both a blessing and a curse for EOS, as the protocol currently is in far less demand overall. However, there are rumblings in the market that EOS will soon be making some announcements that could make a significant difference in the asset’s future. EOS tokens were among the most successful ICOs in history, raising billions in capital through the once popular crowdfunding method. The current Ethereum is not the original Ethereum blockchain, interestingly.