Why Boid has chosen EOS over Ethereum and RSK
Hello, I'm John Heeter. I'm the founder at Boid.com, and over the next few weeks, I'm going to be sharing more details about what we are building. To kick things off, I wanted to talk about why we decided we will release our token (BOID) on EOS.
Ethereum has serious governance issues that prevent it from handling black swan events like the DAO and parity hacks. The reliance on "Code is Law" doesn't scale outside of engineer type users. Additionally, the payment transaction fees (gas) makes it difficult to use Dapps because users are required to hold and spend ETH every time they want to interact with the blockchain.
The pay-per-computation model of the EVM also doesn't really scale well because It adds overhead for nodes to run and check the computations. This prevents the ETH blockchain from having a quick block-time and hinders scaling. Additionally, the sharding and PoS scaling solutions are coming too little too late. Development relies on writing solidity, which is a language that's still young compared to other languages and should not be necessary. While the platform is capable of turing-complete smart contracts technically, no one actually uses turing complete contracts for anything useful. The most useful contracts on Ethereum such as tokens are already possible in non turing-complete platforms like Bitcoin Script.
RSK has all of the disadvantages of ETH because it's based on the same model. Additionally, it relies on trusting a federation to hold your Bitcoin, and hasn't built up the community and developer support that ETH has. The only advantage RSK has is that it's more scalable and "secured" by bitcoin mining.
EOS is a totally different model. Similar in structure to other Blockchain projects that are successful Bitshares and Steem. computations and transactions are free, it only requires that the developer of the smart contract stake some EOS tokens for users to run their app. This means that people can interact with EOS contracts in a browser without relying on an extension just like they interact with other websites already. Additionally, the subjective smart contract execution means that transactions are not micromanaged on a per call basis and run very efficiently on the nodes. This means nodes can scale vertically as well as horizontally.
EOS solved the governance issue with delegates that are voted by the community based on the quality of service provided to the blockchain. I personally feel its much more socially scalable, and it's more likely that EOS based blockchains will be able to break into mainstream adoption as has already been proven by Steem. Additionally they have native Ricardian contracts, recoverable accounts, delayed transactions, human readable account names. The technology is live and usable by anyone already today. They have hundreds of projects being built on EOS today. The development community is robust and well funded. Smart contracts can be compiled to work on EOS from any language because all smart contracts are compiled to Web Assembly.
If you are interested in learning more about Boid then you should check us out at www.boid.com