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Can you summarize what the differences are between ETH and EOS?

rthomas6 9y ago
Sure. They're both Turing-complete blockchains which can run decentralized apps/smart contracts, and of course be used for transactions directly. Ethereum (ETH): Created in 2015, currently successfully running. Right now ETH uses a proof of work consensus algorithm with plans to move to a proof of stake algorithm over time. Its smart contracts can be coded in two purpose-built languages, and work is being done on cross-compilers to facilitate writing in more. ETH can currently handle ~20 tx/sec, but the community is very active in working toward vast improvements in this regard via very technical solutions (sharding, plasma), but they're not quite there yet. Ethereum is truly decentralized and runs tens of thousands of validating nodes. EOS: Planned creation date is in June 2018. Its smart contracts will use WASM (allowing the use of many general purpose computer languages), support parallel computation, and have some sort of ability to change deployed contracts to allow for debugging and updates. It will handle 100,000+ tx/sec out of the box, and transactions will have 0 fees. Instead of fees, percentage of holdings determines allowable transaction bandwidth (If you have 1% of EOS, you get 1% of EOS transaction throughput). However, instead of tens of thousands of validating nodes, EOS will have 21, with all coin holders having the ability to vote for who these validators are. EOS will trust the consensus of these validators for transaction security. This is how EOS achieves such high transaction volume and zero fees. IMO, this is the main weakness of EOS.
- stuxnet79 9y ago
  Thanks for the breakdown. Very helpful. I'm somewhat disappointed with EOS's offering compared to ETH, as I'd always (wrongly) assumed they were providing a lot of innovations in an effort to reduce ETH market share in the whole 'dApp platform' space.
  - rthomas6 9y ago
    I think they do in some regards. 0 fees to run dApps combined with WASM-nativeness (write in many languages) seems objectively better than ETH when considering just those areas.

Sure. They're both Turing-complete blockchains which can run decentralized apps/smart contracts, and of course be used for transactions directly. Ethereum (ETH): Created in 2015, currently successfully running. Right now ETH uses a proof of work consensus algorithm with plans to move to a proof of stake algorithm over time. Its smart contracts can be coded in two purpose-built languages, and work is being done on cross-compilers to facilitate writing in more. ETH can currently handle ~20 tx/sec, but the community is very active in working toward vast improvements in this regard via very technical solutions (sharding, plasma), but they're not quite there yet. Ethereum is truly decentralized and runs tens of thousands of validating nodes. EOS: Planned creation date is in June 2018. Its smart contracts will use WASM (allowing the use of many general purpose computer languages), support parallel computation, and have some sort of ability to change deployed contracts to allow for debugging and updates. It will handle 100,000+ tx/sec out of the box, and transactions will have 0 fees. Instead of fees, percentage of holdings determines allowable transaction bandwidth (If you have 1% of EOS, you get 1% of EOS transaction throughput). However, instead of tens of thousands of validating nodes, EOS will have 21, with all coin holders having the ability to vote for who these validators are. EOS will trust the consensus of these validators for transaction security. This is how EOS achieves such high transaction volume and zero fees. IMO, this is the main weakness of EOS.

stuxnet79 9y ago
Thanks for the breakdown. Very helpful. I'm somewhat disappointed with EOS's offering compared to ETH, as I'd always (wrongly) assumed they were providing a lot of innovations in an effort to reduce ETH market share in the whole 'dApp platform' space.
- rthomas6 9y ago
  I think they do in some regards. 0 fees to run dApps combined with WASM-nativeness (write in many languages) seems objectively better than ETH when considering just those areas.