EOS vs. ETH - Differences

in #eos6 years ago (edited)

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Here are eight ways EOS is different then ETH.

Let me know if you have any other that would be interesting to discuss.

  1. Ethereum peaks out at around 15 transactions per second (tps) globally. EOS easily does 10,000's as a starting base platform, and should scale in other ways to millions of tps.

  2. Ethereum seems unable to institute functional changes it needs for the future because it wasn't well designed for change. EOS is designed with change in mind up front.

  3. Ethereum doesn't have build-in democratic processes for its community to make decisions. EOS does. It's a community.

  4. Ethereum has a cost for EVERY transaction, never mind how trivial. Imagine if you built a social media distributed application (dApp), and people had to pay to 'Like' something. That would be awful. Nobody would use it, but EOS transactions are free. EOS based dApp developers can decide for themselves what should be charged for and what should not, and users will decide for themselves whether they accept it that way.

  5. Ethereum has a block rate of around 15 seconds, meaning that transaction confirmations (knowing they are safely locked in) take at least that long or longer. Complex smart contracts will therefore be slow (each step possibly taking minutes waiting for strong confirmation), while EOS takes around 0.5 seconds for global confirmation.

  6. Ethereum is single threaded (so it can't really use the full power of modern multiprocessing servers). EOS is multi-threaded, so it can.

  7. Ethereum is limited to just working within its own block chain instance. EOS can do cross-chain transactions, so it can scale sideways by just creating more blockchain instances.

  8. Ethereum makes you use big long secret keys that you have to keep secret, and if you lose them, you lose all your Ether. EOS has name based accounts that are recoverable on loss of passwords etc., and can have assorted additional factor authentications to stop your EOS tokens from being stolen.
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