What is the difference between Ethereum and EOS?

What is the difference between Ethereum and EOS?

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Answer What is the difference between Ethereum and EOS?

The question is often asked about the difference between the EOS currency and the Ethereum currency, now we will explain a comprehensive and detailed explanation of all the differences between the two through your Arab Bitcoin website.

The beginning was with the founder of the Ethereum currency, Vitalik Buterin, who expressed his opinion on the EOS project through one of the social media platforms, which opened the door to communication and debate about the two currencies extensively, as some began to study the main factors of the difference between the two and delve deeply into all the details, We’ll see if there is a possibility to compare them or if it is a pointless argument at all.

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First: What is Ethereum?!

It is a currency that was built in the SOLIDITY programming language on open source code, allowing anyone to use it normally. This open system helped develop its crypto system better through the strong community of the Ethereum network.

It was programmed by the Russian (Vitalik Buterin), Vitalik’s opinion was that creating a new currency that is handled by natural scripts is easier for users than code and code and launched his project in early 2014 and has gained support from the blockchain community.

The Ethereum currency was introduced as a branch of the main Ethereum platform, and it can be bought and sold on any of the exchanges as well as through transfers between individuals, and according to statistics, the Ethereum currency is the second most popular currency after Bitcoin.
The fee for transfers in the Ethereum currency is called GAS and is present for all transfers without exception.

Second: Ethereum development

It was dealt by a very smart contract between the Ethereum platform and one of the programmers (his identity was hidden), where the functions that the programmer would perform within the network were determined, and once the required work was completed, the network would automatically pump the agreed funds into the programmer’s account, there is no need in this system to third parties or the presence of other persons to act as a direct intermediary.

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Another reason why traders buy Ethereum is the high transparency of its use and the integrated security system that is difficult to hack. as such The platform allowed users to design their own digital currencies, which allowed for further growth and adoption of the blockchain world, these currencies are traded between individuals and most fall under the ERC20 standard. All these elements have made Ethereum a strong name in the crypto markets.

Third: Can the Ethereum currency expire?!

Ethereum faced huge changes in late 2016 and then its value increased significantly, and talking about any collapse that may happen to Ethereum, some see it as a fantasy because the second most famous currency of digital currencies and has multiple uses today cannot disappear due to a drop in prices.
But in fact, we will take all the unexpected reasons that can cause the collapse of Ethereum.

One of the bad things about Ethereum, which may cause it a noticeable decline, is the lack of expansion in the network and its inability to accommodate a high number of operations. The year 2017 witnessed an extraordinary demand for digital currencies and frequent and high operations, but it turned out that the network is not equipped to receive this huge number of numbers.

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And the decline and weakness in speed began to include the transactions themselves, and it was even noted that there was a small percentage of the phenomenon of investors fleeing from dealing with Ethereum, and another problem appeared, which is the high transaction costs, which were later resolved. As well as frequent complaints about the inability of the network to use. It is worth noting that the year 2017 witnessed fierce competition between Ethereum and many other currencies, but Ethereum always prevailed.

What is EOS?!

It was created in 2017 under the management of a platform called BLOCK.ONE with horizontal and vertical staging with the aim of accommodating one million operations per second, a feature that enables the user to complete operations in an orderly manner with complete prevention of possible errors.

If the EOS system is implemented and all the desired goals are achieved, all the problems of the Ethereum currency will be solved and it will be a step to advance the world of the blockchain in an advanced way, and the problems they face in the Ethereum network will disappear, related to scalability and usability, in addition to the network’s ability to complete millions of transactions per second.

Also, an innovative system will be designed in currency offerings, so that it will be written in normal code instead of programming code, making it easier for the trader to read the repeated operations. Network EOS aims to build an environment that attracts creators, imagine a company with a full suite of applications with almost no restrictions and more systems to deal with smart contracts.

Here it is worth noting that we cannot make all the comparisons between Ethereum and EOS, which plans to be a special place to provide programs that enable developers of crypto systems to work better, and although some call it a currency, this is due, according to experts, to its desire to stay away from a trading body American securities and stock exchange, and calling it currency is, in the end, a legal description and nothing more.

More about the EOS project

The project falls under the umbrella of a major company such as BLOCK.ONE, which will invest huge sums in many projects based on blockchain technology, and this will be done with the participation of other companies such as Galaxy Digital.
It is clear that its system of work will be similar to that of Ethereum, and it may compete seriously and strongly in the event of achieving its goals, noting that the main network was launched recently in the month of June.
Another strong thing that attracts the trust of users to the company is the presence of a person like Brenden Bloomer, founder of OKAY.COM and Daniel Larmer, founder of the BIT SHARES platform, and some may see the presence of a person like Brock Pierce, who is negative, having failed experiments in the world of electronic currencies.
It is worth noting that the platform is still new and facing some difficulties, and this makes it a double-edged sword as it can build support and develop capabilities further at the beginning of its journey, as well as make many doubts about it.
Some experts argue that the EOS model lacks many security controls, will be highly vulnerable to hackers, and will have a major flaw in the original protocol.

Is Ethereum better or EOS?

Ethereum is a real, tried and used platform that has millions of users around the world and still maintains its unbridled strength in the currency market, and its great commitment to all the conditions for operating the basic currencies and its constant and continuous development made it a difficult competitor to overcome, and the platform is also recognizing all the flaws in it and trying to improve it continuously and renewed.
On the other hand, EOS is the newly born on the ground of the digital currency arena, and in theory, nothing will compete with it at all, but in terms of implementation, the matter is somewhat different, but the support surrounding it makes it seem that it will become very easy and simple, as well as its constant promises that it will be the best soon, As well as their constant optimism that the Ethereum coin will inevitably be under their wing.
In general, time will prove to us if the EOS is a giant ship that will move from the far west to the far east easily, or is it the Titanic of the modern era that will sink in the middle of the distance?! Share your thoughts and ideas with us

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