Topic: EveriToken Solution to Present blockchain limitations(ETH/EOS) ? (Read 62 times)

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Ethereum problems EveriToken solving

TPS: at present, Ethereum can only support fewer than 20 transactions per second, which is t unable to meet all the practical needs of Token circulation;

 COST: the implementation of smart contracts in the Ethereum costs gas fees per step. For functions with complex business logic (such as multi-person holding, supervision, legality, etc.), the cost will be high and uncontrollable;

 Popularize: the realization of Token Economy in Ethereum is based on smart contracts, which are non-accessible for non-developers without the use of third-party applications;

 Non-Standardization: since different smart contracts may take completely different development ideas, the metadata of these virtual Tokens is unable to connect and may be isolated. This is not conducive to the ecological development of the Token Economy; additionally, the users cannot use a unified way to query all the different kinds of Token assets they own



EOS problems EveriToken solving

 Safety: Token transactions may correspond to extremely precious and non-renewable real entities, and thus it is important that there are no security problems. However, development based on smart contracts is limited by the level of developers, and it is difficult to ensure that all types of Token developers have sufficient security awareness EOS’s smart contracts are based on Web Assembly, which is relatively new and still in the test (Beta) stage. Additionally,

EOS’s smart contracts code is Turing Complete and has excessive authority, which makes it vulnerable to unintentional security loopholes. 4 Most people cannot write smart contracts. In order to issue and transfer Tokens, thirdparty application must be relied on, and users must trust the quality of the code of the third-party. Thus, the control of assets is not in users’ own hands, but rather depends on the guarantees of the third party.

 Non-Standardization: like Ethereum, the metadata of different smart contracts cannot interact with each other or cooperate.

 Regulation, Trust and Legality: due to the technical expertise required by nonstandardization and code reading, it is difficult for the government to achieve regulation. Likewise, non-developers may find difficulty in deciding whether they can trust relevant programs, which makes it hard for blockchains to be accepted by ordinary people and governments.

 Execution Efficiency: in order to meet diverse needs, EOS’s smart contract function is complex, the system modules are numerous, and the resource scheduling and distribution are difficult. Together, these greatly increase the complexity of the system and reduce the speed of the operation. Due to the possible conflicts among different data and functions, using multithreading execution to increase speed is not easy, and scheduling costs are high. However, for the Token Economy, these complex functions are critical and must be achieved.

 Popularize: the business needs of the global economy are complex, changeable, and lack consistency. However, smart contracts take time to develop and test, and may be unable meet the diverse of the market in a short time span. This will be a hindrance to the development of the Token Economy .