Summary of clashes between Dan Larimer and Vitalik Buterin over EOS and Ethereum over the past week
The posts written by Dan Larimer regarding EOS and Ethereum have been filled with much meaningful content that may be difficult to process. In this post, I will summarize some of them:
"Response to Vitalik Buterin on EOS"
- EOS has a merkle tree structure that allows simple verification of blocks.
- EOS uses DPOS which results in fewer full nodes and thus is more prone to attacks and centralization. However, Dan brings up that Ethereum Hash Rate is concentrated over a few mining pools.
- All cryptocurrency nodes can be easily shutdown by governments or ISPs anyways as their information is known. However, since cryptocurrencies are used for legal applications, this shouldn't be a problem.
"Response to Vitalik's Written Remarks"
- Low voting participation in EOS can be remedied, and is not a major flaw since stability can still be ensured. Large voting players will vote rationally for self-interest
- The bandwidth system implemented in EOS and Steem for transactions in order to remove transaction fees do not significantly hinder "poor" accounts from executing transactions
- Dan responds to the lack of slashing condition by stating that badly behaving nodes will have their reputation and revenue affected. Furthermore, he states that the addition of a slashing condition is trivial.
"Casper as an EOS contract"
- Casper does not provide much value since most of the blockchain security comes from the proposal mechanism (PoW)
- DPoS is a better proposal mechanism as it prevents centralization due to formation of mining/staking pools