Hope yo all are good and enjoying your lives in a good way.
Here is my homework task for professor @alphafx.
Give a detailed comparison between two blockchain platforms of your choice.
There are many blockchain platforms that contains centralized and decentralized systems. And today, in this post I will do a detailed comparison between EOS and Ethereum.
There are several differences present in both EOS and Etherem. Both platforms based on the decentralized blockchain platforms. Both systems have proven their importance in the market. The main differences are their speed, governing body, token rank, consensus algorithm.
Comparison between the EOS and ETHEREUM
EOS (Decentralized Block chain system)
- It is formed by the Daniel Larimer. He was the co- founder of the other BBlockchains as well. It was developed in 2018
- It has proven a good platform for investment and crypto currency.
- It required the voting system in which the progress is handle by the block producers.
- In term of the speed, the total block confirmation speed is 1.5 second.
- No fee is required for this application. It provided authentic system of voting with best security.
- The name of the governing body for the EOS is EOSIO Core Arbitration Forum.
- The best thing about the EOS is that it can host number of decentralized applications. Also because it is totally free. There are number of edits that can be made in this system.
- The ledger form included permission for this platform.
- The permission is required because there is a strong security and contained validate alterations that required proper permission.
- The voting system is called as the Delegated Proof of Stake.
- This platform is well – rated in terms of running decentralized applications.
- There are some disadvantages included its RAM price, limitations in the smart contracts.
- The ranking of the token is lesser as compared to the Ethereum. The remark is 22.
- This blockchain platform was established by the programmer (Russian- Canadian).
- This is the best platform for different computing systems.
- It uses the smart contract system and developers give access to the system.
- The speed included transactions (30) per second respectively.
- The name of the governing body for ETHEREUM is the developers that produced it.
- The best thing about this platform is that it is much faster than other systems.
- In this type, the ledger system is permission less.
- This system is permission less as the proof of work is must in this system. On the other hand, it uses the proof for the stake system.
- The programming system included Ethereum Virtual Machine. This machine system is very useful for the smarter contracts.
- The agreement algorithm used Proof of the work by the company in this platform.
- The platform is very friendly in terms of smart contracts.
- There are some disadvantages included high volatility which can also increase the loss in the profits.
- The ranking of the token is much greater as compared to the EOS. The remark is 2
To conclude, blockchain technology is not limited to few systems. The revolutionary blockchain system is maintaining the database by using decentralized systems. Two examples of such systems are EOS and Etheruem.
The EOS and Etheruem both work using authentic platforms. But their token ranking, ledger type, confirmation speed, and other features differ from each other.
The EOS is gaining popularity because it is free, no fees are required to use this service. This system was launched in 2018. But the disadvantages are also present like the increased price of the RAM. It restricted its services for the smart contract as it is the feature of the Ethereum used the programming computing systems. It is also considered one of the best-decentralized systems as it uses smart contracts with good speed as well. The best thing about this platform is that it is much faster than other blockchain systems.
Additionally, just like EOS, Ethereum also has some disadvantages like high volatility.
Blockchain technology requires better storage systems. Both these systems maintain transparency ad transaction very easily. ESO runs voting systems while Ethereum programming computing systems without any complication. Both database systems have maintained their integrity by launching the best features.