EOS vs. Tezos vs. Tauchain: The Dummies' Simplification Of Possibly The Biggest Blockchain Launches Of 2017...

in eos •  2 years ago  (edited)

As the blockchain revolution gains momentum, so has this year brought countless ICOs with mega-hype and mind-blowing multi-million dollar crowdfunding campaigns. It's been a ride. And it's tough to keep up with everything coming out.

Yet, there are a few projects that stand out amongst the many.

And while many ICOs have been projects built on Ethereum, there are a few upcoming platforms that may give Ethereum a run for their crypto: namely, EOS, Tezos, and Tauchain.

Understanding both the finer technical differences between these blockchain protocols and the implications of their successes is not exactly easy. Nonetheless, if we're choosing to play in the blockchain space, it's wise to develop at least a basic understanding of what's what and why each may be important to know about.

Herein, I'm going to attempt to pay forward some of what I've been learning in regards to these different projects - simplifying as much as possible to make it easier to grasp some of the overall concepts that may help in navigating this maze of complexities in the crypto world.

Don't expect explicit technical details here. And I may be missing many points, as I'm by no means an "expert" in these specific matters myself. Yet, it is my intention to provide as much as possible to bridge the worlds of this crazy technical stuff with the more practical, down-to-earth, bigger picture of how these are relevant for the non-techies.

So, here we go...



First came Ethereum...

Ethereum launched as the first real "world supercomputer." It wasn't designed for cryptocurrency - but as a platform upon which to build a sort of idealzed decentralized, censorship-resistant internet utilizing smart contracts.

The crypto world got very excited about Ethereum, because it opened new worlds of possibilities for what kind of decentralized applications (dapps) could be developed utilizing smart contracts to rid commerce, economics, and governance of unnecessary middlemen to massively increase efficiencies and level playing fields.

As such, Ethereum has been growing a large community of supporters and developers working on a wide variety of projects and platforms.

But, the growing enthusiasm and interest has far outpaced the technical development.

Ethereum is much faster than Bitcoin, but is still years away from numerous upgrades required to scale to run applications supporting millions of users. And, it's received various criticisms regarding different aspects of its protocols that leave question as to whether it will be fully capable and suitable of everything envisioned for it.

As such, other blockchain projects have been built seeking to solve the challenges inherent in Ethereum's design and/or improve upon the concept of a decentralized smart contract platform.

Thus, we have this new round of contenders appearing on the scene…



EOS

If you haven’t heard of EOS yet, you are likely new to Steemit. EOS is the third of a potential power-trio of blockchain projects from Dan Larimar (@dan / @dantheman), who is also the creator of Bitshares and, of course, Steemit.

An excellent primer on EOS would be the following, written by @trogdor:

Introduction To EOS: The Epic (Blockchain) Operating System

In short, EOS is being introduced as a blockchain and interwoven blockchain operating system that is both highly scaleable - being built on the MIT-licensed Graphene technology that has well-proven its performance with Bitshares and Steemit - and makes developing decentralized applications much simpler and easier for developers.

Again, I’m not highly technically-inclined so this isn’t the place for geeky details and a thorough overview of what programming languages each uses. However, to my understanding, EOS is being developed such that it will be using more commonly-used programming languages and have a foundational set of stuff in place so pretty much any standard web developer can get programming dapps on it right away - versus something like Ethereum, which has a more complicated coding language to learn and requires programmers to moreless start from scratch when building on the platform.

These two things are what really make EOS stand out - at least for me. Scaleability is a major issue, and this tech is designed for scaleability, whereas Ethereum and others are struggling to figure out how to scale. And, EOS “should be” much more accessible to developers - enabling a wider range of applications to be built on it faster. Both huge points in regards to increasing adoption and implementation.

Also very noteworthy: Dan Larimer’s track record.

Bitshares has been up and running for years. Steemit’s been blazing for a year now. Meanwhile, growth on Ethereum has been moving relatively slow, and other blockchain projects have barely completed their prototypes in the same timeframe. Simply put - the success of Dan’s projects speak for themselves. They may not have raised huge hype and been marketed with the same gusto as Ethereum - but the fundamentals have been established solidly with tangible, functional results that are a good indicator that EOS ought to be taken seriously.

And, gauging from their list of partners, this is a serious venture - no crypto underdogs here. From the official launch at the Consensus 2017 summit to the rounds they’re making at global conferences (as seen below), and with the power players onboard… EOS is undoubtedly one to keep an eye on through its development.



Tezos

Tezos is another one whose ICO just launched yesterday that’s gotten some big hype - partly because they’ve gotten the backing of some big-name VC guy. Yet, upon investigating any project sauntering through the limelight, one would always be wise to look deeper into what substance lies behind the hype.

As I’ve been digging, I couldn’t totally figure that one out. Partially, because most all the info on it is very technical - lacking a clearly-communicated projection for its implementation from an entrepreneurial standpoint.

To my understanding, Tezos is priding itself on two strengths: Security. And a protocol that incentivizes developers to upgrade its coding by rewarding contributors.

Sounds good in theory. Yet, beyond that…?

The team seems very focused on the technology. However, as to how that tech is to be brought into the marketplace… it doesn’t feel they have any vision for that beyond throwing money at business development people to figure it out. And surely, they might get some marketing superstars and dealmakers onboard that could take their technology out to be implemented in the real world. Though that very little has been publicly disclosed in regards to any sort of strategic roadmap beyond the technical development is not entirely confidence-inspiring, in my personal, humble, possibly-ignorant opinion.

It’s also been noted that the programming language they’ve chosen to use isn’t the easiest to code in - thus creating a potential bottleneck, with developers wishing to create apps on the blockchain either having to already be specialized in that coding language or go through another learning curve - as opposed to something like EOS, which is being developed to simplify for a wider range of programmers already versed in compatible languages. This is a fairly significant point, which could potentially put limitations on adoption.

Also worth a read, for anyone doing their research on Tezos, is the following Reddit thread that provides some interesting info and perspectives worth consideration:

What are everyones thoughts on Tezos Coins's ICO ?

And, one other great overview by @kyle.anderson that gives a great simplification of the project and some questions worth asking:

We don't need to Hardfork: a questionable story about Tezos. - [ICO July 1st]

Of course, we here all make our own decisions. Though in consideration of all these points - I, personally, will not be putting my money into this one.



Tauchain

Okay, now… I’m not gonna even begin trying to offer explanations on Tauchain.

This one isn’t exactly straightforward or easy to understand. But, it must be introduced.

It had been in my peripheral for a while, and then came more focused into my attention via @dana-edwards.

You know how they say, if you wanna be successful, be the dumbest person in the room? (“surround yourself with people who are smarter than you.”) Well, Dana is in that room you wanna be in. For as smart as I can get feeling sometimes, engaging in Dana’s writing constantly humbles me with the level of his - or maybe ‘her’, not yet totally sure with the unisex name - intelligence. Dude or lady… @dana-edwards is one very smart being whose opinion I’ve come to highly respect and take in weight some weight of significant expertise. So when Dana started translating more of what Tauchain was about, I paid attention. And while I didn’t grasp it all, I got enough that my curiosity was piqued.

There is no synopsis I can create to do justice to how Dana has spelled out some of the scenarios for what may lie ahead with Tauchain - thus, here is the collection of his stories on it that would be recommended reading for anyone wanting to learn more:

Though to offer my humble summary and viewpoint…

I haven’t spent the necessary time to understand Tauchain. It’s complex. It’s deep. It’s kinda overwhelmingly technical. But, I’m pretty sure it’s absolute fucking genius.

Others have said Ohad Asor, the creator, is a genius. Like, next-level genius. And from what I’ve grasped it’s true.

The leaps in evolution encapsulated in the theories forming the foundation for Tauchain are pretty awe-inspiring. Rather difficult to translate. But profound.

Catch is, it’s still essentially in concept-phase.

Those investing in the AGRS token aren’t backing a tested-prototype. They’re placing their bets of faith in one man and his promises to carry through an idea.

The concept of a blockchain platform with AI integrations and automated programming - the two key ideas that stood out for me when researching Tauchain - is powerful. The depth and detail that’s gone into planning this for the last couple years, is quite impressive. Yet, it’s advanced. The technicals, the foundational background context & theories, and the implications of what could result from its success.

And, this advancement poses challenges to its success. Essentially, cuz it’d fly right over the heads of many people who aren’t at a genius level. Much work is needed to translate the vision, organize presentations into coherent, simplified, digestible marketing materials, and ground it all down into language much more comprehendible to the average man than what content is currently available explaining it all.

Nonetheless, as these challenges are risen to, Tauchain could potentially be one of the biggest game-changers in the blockchain space yet.

Dig in if you dare, though be warned that it’s not light reading and will take plenty of time invested to even begin grasping it.

It might very well be a worthwhile investment, though.



And in the east…

Last but not least, this story would be incomplete without at least making small mention of both Qtum and Antshares/Neo.

Both these China-based blockchains have been getting some buzz. The momentum of the blockchain revolution is growing strong in the land of the rising sun, and while numerous projects are popping up in the east, these two are probably the main ones that have had the news syndicated far enough to generate attention in the west.

Antshares - which recently rebranded as “Neo” - has been pitched as something like “China’s Ethereum,” with some upgrades including the support of multiple programming languages to make dapp development easier for programmers. The price of their ANS token has risen a fair amount over the last month or so, with news coming out about potential partnerships with Microsoft, the founder’s discussions with Vitalik Buterin, and positive outlooks for what may come on this platform.

As far as Qtum goes, I can’t honestly say I’ve researched enough about it to confidently comment with any insight - which probably means it hasn’t been that hyped up, though might be one to check out for anyone desiring to really get deeper into the scope of projects currently out there.



And that’s that.

Invest wisely. And that entails your time just as much as money.

Because really, it’s one’s knowledge of these realms which enables smarter, more well-informed investment decisions. Some of those decisions are monetary. Some are strictly a matter of what projects, teams, and ideas we align our energy with to support and contribute to.

There are numerous opportunities ahead in this space - and not just for simple financial returns, but for collaboratively designing new socio-economic structures building a better world. Our little writings on Steemit are just the start. Much bigger things are yet to come, should we choose to engage in this blockchain revolution and lend it our vision, talents, and passion. And learning about these developing platforms and ecosystems is key in knowing how & where we may best step to participate in the ways we're most suited for, where our skills and knowledge may best serve.

Onwards and upwards...

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There is no time to follow all this new projects, thank you picking most promising of them and serving with easy to read explanations.

your welcome, though this is still just a tiny fraction of what's out there...

so which project your following closely?

Thank you for introducing me to Tauchain, Ant Shares and others. And while your understanding of EOS and Tezos may be more nebulous than my own I definitely share your excitement. It's very clear that Ethereum isn't the highest stage in blockchain evolution - we are not even crawling out of the oceans yet, just going multi-cellular so far.

I heard Vitalik speak about Ethereum at the time when it and Maidsafe were vying to be the next big things in blockchain tech. Neither had even working test nets at the time and heaps of scorn and FUD were been directed at both.
I was skeptical but interested - Vitalik was clearly one hella smart dude not even 20 at the time.

I somehow got busy at work and looking for a new job and forgot to get in on the Ethereum ICO (more fool me) but did okay with Maidsafe who are still working slowly towards something bigger. I rather think similar stories will happen with many of the BCs we are seeing launching now.

Maybe only 1 in 10 will succeed (like VC-backed software startups and restaurants) but at least we are moving forward, invigorating the gene-pool and seeing what works vs. last time around when we had hundreds of Bitcoin clones with a different name. Yeah, I once held 9,000,000 MOON coins - it would be worth a whopping $500 now - but it has no more reason to exist now than it did then.

@rok-sivante
Yours post is amazing. I an still reading your article and this is something that nobody knows till date
Thank You for sharing

curious - which part "nobody knows 'til date?"

I'm not too sure this is anything necessarily new - perhaps I've just curated some perspectives on these three projects and translated it slightly differently.

glad you found value in it - that was obviously the point in writing & releasing it. just curious for more detailed feedback as to what in particular you found was particularly new or different, so can try offering more of that in future posts...

Thank You for sharing.

I'm really bullish on Antshares/Antcoins. China is a massive market

I'd agree, will be interesting to see what'll happen when it's on more exchanges.

Totally agree with you there, it's China's ethereum

*NEO ;)

Good high effort post... It would be interesting to revisit this post 2 years from now...

Thanks so much for that article. I'm a dentist and know a lot About a few subjects. Programming is not one of them. Nonetheless I am fascinated with all things blockchain, AI , robots, 3D rendering etc. I need the dumbed down version though.

Glad it was of some service... :-)

Great information! I'm reading and learning what I can on these. Thanks for sharing!!

Very Interesting and informative article. EOS, i feel is the near future. Tauchain( reading about it for the first time), as you describe it, may be the far future of blockchain.

IF it can be pulled off as conceptualized and I understand it as Dana summed it up as, it'll definitely be one major piece of the puzzle - though EOS, Tezos, Ethereum, and others will each have their place as well...

Currently I am having an eye on EOS to invest in. Will do R&D about Tauchain

Underated post!

thank you, great post

EOS was great to follow, huge ICO but then on buy day they didn't allow US its to purchase? Bullshit lol

could always bypass with a VPN...

and based on my understanding, it might work out to a better buy later on in the sale...

True, asked the same question but not sure on the legality, maybe im bring over cautious

EOS is so interesting. Don't miss out (!)
I use Private Internet Access VPN, and EU based SMS web pages (google it), and mailinator.com for email ;-)

Yogi! you come through when I need a trusted source for that last push, I'm all over this brother, thank you! Surf on!

At this point, I'd guess it'd be unregulated and there isn't any way it'd be found out...

Plus, you could probably just by them on poloniex anyways, even if you are in the US...

But if any US exchange releases information about your holdings, then you could possibly get into trouble for violating the legal rule 501 of the SEC.

not that it applies to me as a Canadian citizen, though to clarify for any US citizens reading...

what is Rule 59?

would a trader still be held liable if the exchange sold to them, with their account registered in the US?

are the terms and agreements for the ICO that US citizens are not allowed to hold any of the EOS tokens, period - or rather that the company distributing the tokens are not allowed to sell to US citizens?

The SEC rule 501 (not 59) prohibits a company from selling an unregulated/unregistered security to public investors. But it doesn't prevent US public investors themselves to go and buy these securities through foreign exchanges (not sure about exchanges registered in the United States). So the terms and conditions are usually to protect the company (in this case EOS) from any litigation. But under certain exemptions these securities can be sold to 'Accredited' US investors.

Basically, what needs to be understood is that US investors are protected from any security fraud by having rules that prevent company's from selling unregulated securities.

Excellent clarification. 👌

Unless I'm mistaken, the citizen wouldn't have violated anything as the onus and restriction is on the exchanges.
Crypto-startups not including US citizens in their ICOs is a precaution for any possible regulation that may eventuate - and don't forget many of these are truly global startups where, for example, something legal in Sweden may not be legal in the US - but I have never read anything that has made me feel that US citizens (and no, I'm not one) have anything to fear from the SEC. Yet.
As far as I understand it, as long as you're including any gains on your tax return you are obeying the law as it stands in 2017.

Thanks for this article about all these projects.

Tauchain seems fascinating, so I'll look into that. And the Chinese projects also seem worth looking into.

Just a heads up, Japan is the land of the rising sun ;)

I have heard of Xem/Nem having prospect in Japan...

That was a fantastic summary. definitely the best I've read so far.

Much appreciated.

I'm still confused....

Wow good job on such an informative article man!

Very great read... Thanks for giving me an idea of what EOS is

glad it was helpful :-)

Thank you for sharing - how you explained EOS actually helped me write my latest post about the few altcoin project I'm stalking this month.

Consider their own FAQ doesnt quite explains what is EOS stands for and the white paper is beyond my understanding. This really helps! Btw, what do you think EOS stands for?

awesome, glad to hear.

in all honesty, I have no idea. although I'd side on the bet that the "OS" does stand for "operating system." :-)

very interesting. i loved your post. many thanks...

very interesting, I wanted to take part in the EOS ICO but I missed it - damn!

How could you miss it? It's going on for the next 336 days...

well I wanted to buy this morning when it was at 1,10. I didnt make it home before it went up to 4,00. Now I am not so sure if it isnt too expensive...

In my opinion, there's no rush to buy at this point...

Consider - if the price stays around $1 for the whole ICO, that means about $2mil per day, which is arouns $800 million for the whole iCO...

That could happen. Though that might also be over-optimisitic.

and, factor in potential price increase of ETH. I think it might not be unreasonable to predict anywhere from a 2-4x prive increase by the end of the ICO. So if you buy into EOS now, factor in the potential opportunity cost... I wouldn't expect EOS price to rise THAT much proportionately that they're raking in 2-8 million per day.

Thus, in my opinion, I think the best buys may be available when ETH price rallies again to new highs. But, I could be wrong, and ETH might not keep climbing...

This has been a wonderful blockchain primer of projects to come and has been very helpful. My team has been working on a Pharmaceutical blockchain based Supply Chain solution for close to 3 years.

In this time the landscape has changed dramatically and again these projects you reviewed are changing it again.

We are convinced that a a Graphene solution provides the enterprise robustness we are looking for. We are planning on an official announcement about our Pharmaceutical Blockchain of Value in about a week.

In the mean time any Bitshares developers interested in knowing more should hit me up here.

whoa, awesome. that'd be quite an amazing project to help grow the Bitshares ecosystem for sure!

Yes we are expecting some great synergy to be created from this initiative. We're looking forward to working with and growing the Bitshares ecosystem.

Thanks!

I have read the post
very interesting
thanks for sharing

Never heard of Tauchain. Another token on my list to investigate. There is so much happening that it is hard to keep track. Thanks for updating us.

Tauchain is a tough one to get into. Dana's coverage of it really started helping narrow down in focus to get into it, so I'd definitely recommend the links above as a resource to get your foot in the door. even then, it doesn't seem all straightforward, but at least for me, that was an approachable starting point...

Tezos ico already launched. Your article states that it is launching tomorrow? maybe i'm misunderstanding something.

thanks for the catch... I began writing this a couple days ago. edited to "launched yesterday." cheers.

No problem :)

Good)

This is a nice guide to the Big 3 ICOs everyone is currently talking about. I'm sure it will be helpful to many. I like to diversify, so I am in all 3. Thanks for this!

;-)

Thank for your advise and a great post

Great post this is.. EOS is going to MOON in next 15 days.. Must check this

https://steemit.com/eos/@durgeshg/don-t-miss-a-chance-to-become-a-millionaire-invest-to-eos

My biggest problem with these new ico's is it resembles very much the dot com bubble. Lots of hype and money thrown at an 'idea'. Nothing really to sustain growth if there is nothing to prove the pudding. Just money being thrown at techies. Oh how I wish I had taken up programing instead of gaming in my teenage years lol KingabelICO... oh well

Definitely sounds very dot com'y! For sure people will make a lot out of this revolutionary technology and we are all throwing money at things hoping it's it.

true. hence the need for discernment and due diligence to pick apart which projects actually have the substance and teams behind them that could take the idea to fruition...

Impressive article, very instructive and well put together, thanks.

Thanks for the summaries, very helpful!

Great post,as I'm fairly new with cryptocurrencies it was really helpful to me. Thanks and keep up the good work

your welcome.

Small quibble - the phrase, "land of the rising sun" refers to Japan, not China. ;)

Fun fact: the characters used to write 'Japan' in Japanese are 日本 (nihon) which literally mean Sun Origin. From the perspective of China, Japan is located to the East, from where the sun rises.

Really good synopsis. Quick question: what if the Chinese govt. likes crypto so much that instead of co-opting Antshares/NEO, they copy t like they do with so many other items - from Michael Koors purses to GE engines! I would hate to be holding a bag of ants...

t'is possible. though suppose it'd be up to the people to choose which they'd prefer to use - ringing in the free market...

What about iota and the tangle?

don't know much anything about 'em.

You missed other interesting platform https://dfinity.network/ coming up in this space which seems highly scalable and uses "Randomness" based design in blockchain. Another new world computer.

Great post ! Tezos s almost done, was waiting for the 2000 block. about to invest. Anyone knows how % of tokens will be on the market ?

Any idea about NEM, Waves, Omni, Bitshares and Nxt

Not enough to confidently comment...

I'm bullish on Bitshares due to what seem like solid fundamentals.

I've got a little bit of Nem cuz heard from a trusted friend there's been some excitement building in its community of developers and has some interesting prospects in Japan.

Waves was the first or second ICO I bought into, though didn't know much about what it was at the time. Ended up selling cuz progress was super slow and didn't see results validating keeping my funds locked in it.

Don't know much about the other two.

  ·  2 years ago Reveal Comment

STOP SPAMMING.

Seriously, I want to flag this because spam like this is NOT appropriate however.

However, I think it could be beneficial to the Steemit community if you'd set a good example and help grow the platform in your country. hence, I decided against flagging this post - well actually, I did - but then saw when your reputation score dropped to 25, thought a warning would be more appropriate.

If I come across any more spam from you like this, you're getting flagged. STOP IT.