What people are saying about EOS
A few days ago, I learned about EOS from reading a post by @officialfuzzy. Its CTO is steemit's co-founder @dan. I had no idea what it is and how it works. So, did some digging in Google (isn't that obvious?). The top result referred me to a post in medium. This is the post Google I am talking about: Is EOS the Ethereum killer?
The comments made in response to that post shared some valuable insights about EOS and how it works. I am quoting some of them below:
EOS is definitely cool concept, but DPOS is pretty centralized (graphene, steem, etc.), to compare EOS vs Ethereum isn’t correct.
The author replied:
Sure, DPOS is more centralized than Casper, but…
- Do you care about the “security” of blockchains today? For example when you use EthereumClassic -> the network is not that really “secure”. In VERY rare cases good decentralization really matters. If so — you can end up with using Bitcoin’s blockchain (about $1 per tx currently))
- EOS should be treated absolutely like Ethereum, because it IS the blockchain, it HAS smart contracts, it ALLOWS to code different applications on top of it. It is not some domain-specific blockchain platform/DB like BigchainDB or even Corda.
So why not compare it?
omni420 replied:
DPOS is done through representative democracy, the most rational type of democracy. Funding in DPOS designs like in BTS was done through treasury and voting personally or via proxies.
Ethereum foundation controls Ethereum completely as was evident by unpopular fork to bail out the Foundation investments. The funding for development is controlled by Ethereum Foundation from ICO. Ethereum is infinitely more centralized than BTS/STEEM/EOS.
Some reading for you: Reddit
Thanks for reading and I hope you enjoyed it.
The image posted above is from the medium post. So, I didn't add any source.
This statement is actually incorrect, if we consider the only rational definition of decentralization. For more details refer to this excellent post by Ian Grigg.
img credz: pixabay.com
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Interesting read! Thankssss!
Interesting point of view, thanks for sharing...