Topic: Is EOS the new era for blockchain or just a commendable whitepaper? (Read 108 times)
November 05, 2018, 07:08:37 AM
It seems to me that at the current moment there really are a number of questions for EOS. Not everything goes as smoothly as stated in white paper. But more importantly, how the project developers will solve these problems. At the current stage, I believe more in the etherium, since the ether with all its problems is already a fully working product. It has all the chances to improve and introduce some ideas of his competitors. But at the same time, the ether already has a huge community of followers and admirers.
November 05, 2018, 06:13:32 AM
While researching on EOS, I saw a lot of people bashing bitcoin for not being technically as strong as EOS is, according to its white paper.
EOS has almost promised all the possible tech implementations present at this time. It is the first-ever workable implementation of DPoS algorithm.
It seems to have the most efficient transactions with a transaction speed of 0.5 sec/transaction, which become 100% irreversible in only 1 second.
The security and efficiency of EOS are unmatchable as well.
The whitepaper of EOS is really something commendable but is its implementation possible?
The reality is different!
EOS has been through a lot of trouble since its birth.
The 51% attack seems to be quiet easy to achieve in EOS as it is possible as soon as you own 51 votes.
DPoS is the least decentralized algorithm of blockchain yet they promise decentralization! It chooses a consistent number of nodes who work as the verifiers for blocks. EOS has 21such nodes that overlook ever activity in the block.
BUGS- Well not to question the efficiency of EOS but it has unnumberable bugs in the system. Although they are putting their efforts to get rid of them yet they keep showing up!
Cutting the long story short, PoW has been the most decentralized algorithm of all times. The only importance and need of blockchain is for "Decentralization". If a blockchain based system is centralized then why even need it?
Let us not forget that the basic aim of any crypto is to stand out the fiat currencies by ensuring decentralization in its system to enhance the trust of people who are a part of that system! No tradeoffs with decentralization can be acceptable!
EOS has almost promised all the possible tech implementations present at this time. It is the first-ever workable implementation of DPoS algorithm.
It seems to have the most efficient transactions with a transaction speed of 0.5 sec/transaction, which become 100% irreversible in only 1 second.
The security and efficiency of EOS are unmatchable as well.
The whitepaper of EOS is really something commendable but is its implementation possible?
The reality is different!
EOS has been through a lot of trouble since its birth.
The 51% attack seems to be quiet easy to achieve in EOS as it is possible as soon as you own 51 votes.
DPoS is the least decentralized algorithm of blockchain yet they promise decentralization! It chooses a consistent number of nodes who work as the verifiers for blocks. EOS has 21such nodes that overlook ever activity in the block.
BUGS- Well not to question the efficiency of EOS but it has unnumberable bugs in the system. Although they are putting their efforts to get rid of them yet they keep showing up!
Cutting the long story short, PoW has been the most decentralized algorithm of all times. The only importance and need of blockchain is for "Decentralization". If a blockchain based system is centralized then why even need it?
Let us not forget that the basic aim of any crypto is to stand out the fiat currencies by ensuring decentralization in its system to enhance the trust of people who are a part of that system! No tradeoffs with decentralization can be acceptable!
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