EOS will soon be better than Ethereum

The market started talking that EOS (the ninth most popular cryptocurrency with the current market capitalization of almost $6 billion) is able to overtake the ether, which for a long time takes the second place in the rating of digital currencies. Some even believe that in the end the EOS can overtake bitcoin. Are these assumptions justified?
For those of you not familiar with the EOS. The currency was launched by Block.one, a company from the Cayman Islands, mid-2017. The project is headed by Dan Larimer, who is also the founder of altcoin Steem (who works with the social networking platform Steemit), and a decentralized platform for trading cryptocurrency Bitshares.







EOS is still at the ICO stage, which will last more than twelve months, and at the time of writing, it was trading at $8.88. EOS aims to become a new blockchain-based operating system that is faster and more scalable than Ethereum, allowing users to build decentralized applications more efficiently.

Why is EOS called a direct competitor to Ethereum? CEO and founder bitJob (decentralized P2P market for students looking for a part-time job) Dror Medalion noted the following.

"The EOS software enables vertical and horizontal scaling of decentralized applications. It provides authentication, account creation, database support, asynchronous connectivity, and can distribute applications across multiple processor cores and clusters."
Medalion explains that, although there are many networks on the basis of the blockchain such as Ethereum (which accelerate decentralized applications), EOS focuses on the critical points of the blockchain and trying to solve the problem of scalability, speed and flexibility that is often the problem in many other systems based on blockchain currently.



"One of the main differences between EOS and Ethereum networks is the decision-making mechanism. Ethereum uses a mechanism of proof of execution of work (and will soon switch over to a hybrid scheme of the proof of performance/share of ownership), and the EOS will use the technology of Graphene, which uses the mechanism of consensus delegated equity participation (DPOS). The application of proof-of-work and ownership mechanisms leads to certain difficulties in correcting application errors, but EOS already has a mechanism that can stop them from working and make corrections."
Dor Conforti, CEO and co-founder of Synereo (blockchain company), notes that, although the underlying technology has not yet justified itself, EOS differs from other Ethereum competitors in that it is actively funded, and supported by positive assessments of the players in the digital asset market and the real sector.

Partnership with Bancor
In June 2017, the company-developer Of the bancor Protocol, which allows users to easily convert cryptocurrencies, thereby ensuring the growth of liquidity in the segment, announced a partnership with EOS. The introduction of the EOS.IO is planned for June 2018.

Currently Ethereum is the only crypto currency whose blockchain supports Bancor Protocol. EOS this provides considerable support at the same time offsetting one of the key advantages of the ether. Conforti noted the following.

"The air held a tremendous amount of work to launch and expand its network worldwide; EOS can just pay the projects for the use of its technology. Some companies will not have a choice, as the currency is supported by authoritative representatives of the industry. I hope that technology is not a "dummy". Otherwise, it will disrupt the process of creating a real, functional and reliable decentralized infrastructure for the new network."
In addition, there are many notable differences in the EOS concept. Noam Kopel, CEO and founder of DAV Foundation, explains that the philosophy of the EOS platform, its decision-making algorithm and economic model are completely different from the concept of Ethereum. But it also highlights the advantage of ether being an earlier entry into the market.



"One of the potential benefits of the EOS platform is improved scalability, which leads to faster and cheaper processing of large volumes of transactions. However, Ethereum has what EOS doesn't have: the world's largest network of tokens, developers, and products based on their platform. Also, let's not forget that Ethereum developers are working on the challenge of increasing the scalability of their network. Will EOS be able to catch up with the rate of growth of the ether network before Ethereum demonstrates that it is able to solve the scalability problem?»
The fear to miss the moment and the glut in the market ICO
Medalion warns that new projects enter the market so quickly that most investors are unlikely to have time to exercise due diligence and to clarify all aspects of each new project. And the pace of new ICO continues to grow. For most investors, market noise and rising prices provoke fear of "wasting a moment." Medalion notes that even in this case, the EOS is a different product, making it easier and potentially makes it safer to invest in EOS.

"EOS has chosen a different strategy, deciding to hold the ICO within one year. This step gains the full trust of potential investors. They have time to conduct in-depth market research before they decide to join the project. In our opinion, the choice of this approach will allow EOS to increase revenue and realize their vision."
Cryptocurrency supporters are well aware of the dangers of ICO, although new investors may not be well informed.


Jeppe R. Stokholm
@JeppeStokholm
About half of # ICOs have failed. Investigators who are performing a due diligence need to understand the new technology and the business model behind. In general: If the technology and business model is not transparent, stay away! #cryptolaw #fintech #bitcoin #ether #cryptocurrencies



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Concern about the risk of investing in new ICOS without a full understanding of the underlying technology is justified. A recent study bitcoin.com showed that about half of 902 held in 2017 ICO failed. EOS technology, along with an alternative token offering model, can prove to be a new paradigm in the digital asset segment.
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