EOS 3.0 struck at the end of February the momentum of EOS will replace Ethereum?
If this year there will be cryptocurrency beyond bitcoin, then Ethereum is undoubtedly the most powerful player. Ethereum is the second-most expensive place for cryptocurrency for a long time, and its gap with the market value of bitcoin keeps shrinking. At the time of writing, Ethereum's total market capitalization has exceeded 50% of bitcoin. But also have to say that some Ethereum has been stagnant recently. In contrast, EOS 3.0 is due to be released by the end of February, and its outlook is favored by more and more investors. EOS is going to surpass ETH.
The advantage of Ethereum is that it is more than just a cryptocurrency, it is also an ecosystem platform that can build applications (DAPPs) on Ethereum. Many tokens are also based on Ethereum's ERC20 and ERC223 standards. Now Ethereum Peach is full of the world. Many overseas blockchain projects ICO, private placement, usually only received ETH, so that a wave of private placement in the beginning of a huge demand for ETH, the price is also straight up, once exceeded 10,000 yuan.!
However, with the increase of transaction volume, Ethereum has increased its application and started to follow the example of Bitcoin. The network congestion and the increase in handling fees have become increasingly prominent. Bitcoin network can handle about seven transactions per second, Ethereum is promoted to 30-40 transactions, although the progress is still large but still can not meet the requirements, and even a pet game such as CryptoKitties can cause congestion in the Ethereum network. Although the short-term speculative currency armies are not so concerned about the project and technology, but the technology-deficient network will appear to mention the slow transfer of bills, high fees, which will affect the return on investment.
EOS and Ethereum have similarities, we must establish a distributed application ecosystem, but the concept and technology are some different. From a practical point of view, EOS has shown a strong network performance advantage now, let alone not explore EOS can reach millions of transactions per second propaganda processing power, but even if the practical application has shrunk compared to bitcoin, Ethernet Square a few pens, dozens of pen handling capacity is also qualitative improvement, the second arrival is not a dream. At the same time, according to the EOS white paper, EOS can realize a zero fee (gas, not a service fee charged by the exchange), and it does not consume any gas for application development and transfer.
EOS in recent months, the overall currency prices increased significantly, except for marketing tools, after all, still behind the technology and projects as backing. EOS is a blockchain operating system designed for business distributed applications. It supports multiple applications running simultaneously, supports multiple programming languages, provides low-level templates for DAPP developers, and lowers the number of open gates .
There are differences in philosophy between EOS and Ethereum. Ethereum provides a platform without features. Simply put, creating an application on top of Ethereum requires the developer to do it himself and does not have a ready-made template. The EOS provides some commonly used function templates, developers can call directly, can improve development efficiency and reduce costs, and off-the-shelf templates after multiple verification, more conducive to reducing technical loopholes, improve security performance.
And then there is performance, as mentioned earlier, EOS can achieve millions of transaction processing performance, so the establishment of a variety of applications in EOS, will not be as hard as Ethereum network stretched.
In terms of the consensus mechanism, Ethereum was originally a PoW consensus mechanism, and then transitioned to PoW + PoS (Proof of Entitlement) blending model. Finally, PoW was completely discarded to PoS mechanism instead of over-reliance on computing power. The EOS is the direct use of DPoS (commissioned proof of rights) consensus mechanism, we have done golden science financial science, simply put it like China's people's congress system, the voting by a small number of representatives elected votes. Although it is impossible to break away from the need to talk about which consensus mechanism is better, DPoS is more suitable for establishing ecosystems.
In summary, EOS can solve the problems of low application performance, poor security, high development difficulty and high processing fees in current blockchain. On the EOS platform, developers can more quickly develop the required DAPP, and users do not need any fees when using these DAPP, and higher performance can carry millions of applications. Therefore, if the EOS platform is to be implemented, heavyweight applications are more likely to emerge on top of it.
Like Ethereum, the application of EOS will determine its value. In December 2017 entered the EOS 2.0 phase, the minimum viable test network to complete. And that is in early December, EOS's price began to soar.
The end of February this year, EOS 3.0 stage is approaching, the current development progress of 91%. EOS 3.0 will redefine single-chain horizontal and unlimited expansion through secure inter-blockchain communication. With these two features, there is no longer any limit to the development on the blockchain and no further restrictions on how to decentralize the blockchain network. With the arrival of EOS 3.0, EOS or will usher in a new round of price increases.
Finally, while Ethereum has been somewhat neglected lately, with the currency gaining a bit decadent, it's still too early to say that EOS will replace Ethereum. However, according to the current pace of development, EOS took the lead in completing the route planning at all stages and is technologically more advantageous than Ethereum, and the EOS approval level has also risen. I believe in the arrival of EOS 3.0, EOS will further expand the advantages, replace Ethereum is not impossible.