Since EOS launched its main net last
year, the rivalry between EOS and Ethereum has become ever more heated as each
tries to position itself as the superior offering. Shots are frequently fired
from both sides.
Most recently, Block.One CEO Brendan Blumer expressed his view that EOS can “unleash Bitcoin and make it more decentralized than ever,” although he didn’t elaborate on how this could happen. However, his comments quickly drew return fire from Joe Lubin, Consensys founder, who stated that “a platform controlled by 21 crypto bros is just not all that decentralized.” From an objective standpoint, neither platform is perfect. Ethereum has yet to solve the scalability challenge, and EOS is frequently criticized for being too centralized, as well as prohibitively expensive for dapp developers. However, improvement efforts are underway to resolve the challenges. So how are the issues within each platform being addressed, and which is likely to come out ahead?
– Plasma and Casper
is a layer 2 solution being developed on top of Ethereum, which is designed to
overcome the platforms well-documented scalability challenge. Whereas networks
such as Visa manage some 2000 transactions per second (tps), Ethereum is still
limited to around 15 tps, meaning high throughput can choke the system.
Plasma aims to solve this by using
child chains, which can process transactions off the Ethereum main chain at
vastly higher speeds. Periodically, these child chains will transmit
transaction data back to the Ethereum main chain, thus protecting data
integrity. Plasma is expected to accelerate Ethereum’s transaction speeds to
around 20,000 per second.
The other significant development for
Ethereum is the long-awaited implementation
of Casper, which
will enable the move from proof-of-work to proof-of-stake. This move will help
to improve decentralization as it replaces miners with validators, removing the
domination of hash rate by the big mining…