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EOS vs Ethereum : Which one is more Promising for Future Investment?

Cryptocurrency is now a day very competitive to each other and every single platform is proving themselves better than others and EOS vs Ethereum is very close to the same competition.

In the Crypto space, we have heard a lot about Ethereum which was the first smart contract based blockchain platform after Bitcoin.

It has been accepted worldwide and was very popular in the crypto world for creating a smart contract.

That is why Ethereum is known as the Second generation of blockchain technology, but as I said this Crypto world is very competitive.

EOS Vs Ethereum

Due to second generation blockchain, it has many issues out of which the prime one is Scalability issues which are been fixed by EOS.

So in EOS vs Ethereum close competitive race which one is most promising for future investment.

To get specific ideas about Ethereum investment or its Future price prediction check our detailed guide on Should I buy Ethereum or not?

In this Ethereum vs EOS or EOS vs Ethereum guide, we will discuss the differences in between both the blockchain based platform and finding out future growth opportunities.

Lets first Brief about What is Ethereum and EOS?

What is Ethereum?

Ethereum was introduced by the Vitalik Buterin in the year 2014 and was created to solve the problems associated with Bitcoin or first generation blockchain technology.

Bitcoin was used only as a cryptocurrency but not for any other purposes, hence Ethereum has introduced the smart contract concept which could be built upon Ethereum blockchain.

The smart contract is a mechanism, where both parties agree on specific condition to occur and once that achieved will perform auto settlement of payments.

Which become the popular choice for Decentralized Apps Developers and many have developed their applications on it.

Ethereum is currently able to clear the max 15 transactions per seconds and working on the mechanism of renting the resources.

Means to use Ethereum blockchain network, you would need to spend Ether token as transaction fees.

Currently, Ethereum is standing at position #2 in CoinMarketCap in total market capitalization after Bitcoin.

To learn more about Ethereum, I would suggest having a look for a detailed guide on What is Ethereum and how it works?

What is EOS?

EOS was introduced by Dan Larrimer back in the year 2017, he was also the creator of Steem and Bitshares platform.

EOS was launched in an ICO started back in 2017 and ended in 2018, it runs for almost 350 days, one of the biggest ICO till date.

In ICO itself, it made around 4 billion Dollar worth of Ethereum, which is one of the largest collection to date any Crypto platform has made.

People are debating EOS as the Ethereum killer because it is made with a vision to solve the problems associated with Ethereum.

EOS is providing the smart contract to build DApps on its own platform and it works on owning the resources mechanism.

Where to use the network, you won’t need to pay any network fees instead you have to stack the coins.

It has current transactions speed is of around 4000 Transactions/Seconds and the team is claiming to scale this up to millions of transactions.

EOS is one of the great project trending in the market and to learn more in detail about EOS, check our guide on What is EOS and how it works?

This guide will mainly focus on EOS vs Ethereum differences and highlight the key factors which help us to identify which is promising and which one is not?

EOS VS Ethereum: Highlights for Differences 

EOS and Ethereum both are well known among Crypto investors, it is obvious that Ethereum is an old platform however EOS introduced in 2017 only.

Ethereum has already proved a lot many things however EOS has still need to do much more, so do not miss this guide till the end.

EOS vs Ethereum Transactions Speed

Lets first focus on the core problem with any crypto platform is the issue of scalability, here scalability means the ability to clear transactions per seconds.

Ethereum is able to clear only 15 transactions per seconds which is even less than Ripple(XRP) which has approx 1500 transactions per seconds.

In this fast-moving technical world, the ability to clear thousands of transactions per second is the prime need of any platform to sustain for a long time.

This Drawback of Ethereum is solved by the EOS, it is currently able to clear 4000 transactions per seconds and even more scalable to Millions of transactions.

EOS Transactions Per Secons

While referring to live stats of EOSMonitoring, you would see that EOS is able to clear 3996 TPS which is till date the max in Crypto World.

This scalability issues with Ethereum is trending new developers to look for another platform which is easy to scale.

Now EOS has become the popular choice of most of the Decentralized Apps developers. This proves that EOS is beating Ethereum in terms of transactions speed.

How EOS vs Etherum Works?

We have already learned, how mining or transaction validations occur in the Bitcoin blockchain network.

The same concept of Proof of Work is applicable for Ethereum, do you know Proof of Work mining?

If not then check our detailed guide on what is mining and how Proof of work vs Proof of Stacks work?

This Proof of work working on a consensus mechanism where validation of transactions should be required from every available node of the network.

This required more consumption of energy and more hardware to solve any mathematical puzzle associated with any block.

To solve this problem and make mining very simple and easy, EOS has removed the validation of transactions from Proof of Works to Proof of stacks mechanism.

Where they have introduced the delegated proof of stacks (DPOS) mechanism, in DPOS the validation of transactions will be done by the few validators.

In EOS network total 21 validators or block producers will be chosen based on the voting system.

EOS has created a voting system, where you or I like EOS holders can vote for the selection of EOS validators.

All top 20 will be chosen automatically, however, the 21st will be chosen randomly based on the votes he received and the number of coins he stacked.

This makes very simple that only 21 consensuses required to approve any transactions on the blockchain network. Which increase the transactions speed.

Migration of Proof of Work to Proof of stacks making platform more eco-friendly as it reduces the electricity costs and lots much.

Ethereum is proposing the solution of moving POW to POS somewhere in the future but not sure when this is going to happen.

EOS selection of random block producers making this decentralized. However, the end validation will be done through only 21 selected block producers which is a point of concern.

I would say Ethereum is more decentralized than EOS but introduced a voting system of EOS put this same in the decentralized list.

I must say in EOS vs Ethereum once again EOS is winning the race.

Transactions Fees

Ethereum is working on a rental resource mechanism, means to use Ethereum blockchain you have to pay a transactions fees.

Whenever you initiate any transaction on the Ethereum blockchain network you have to pay Ether coin as transaction fees.

This fee will ensure the security of the network and work as a fuel to complete the transactions.

What if the price of Ethereum will increase in the future, that means you would have to pay more as transaction fees.

This won’t give you confidence as a new App developer, that if your network becomes larger on the Ethereum blockchain, in future how much you will have to pay as fees.

However, EOS is working on a different mechanism of owning the resources. Where simply by stacking the coins you will get the required resources to complete any transactions.

EOS is like a decentralized Operating system which gives you a specific amount of CPU, RAM, and Net bandwidth to use the blockchain network.

Allocation of operating system resources will be based on the amount of EOS coins you will be stack in the stacking pool.

To complete any transactions on the EOS network, you won’t need to pay any transaction fees which create EOS platform as best free service providing blockchain network.

You can unstack your coins and make your money free any time you want.EOS blockchain help to determine the future cost of your projects.

You can reserve the resources you want in initial, so you won’t bother about the future price movement of EOS tokens.

DApps Development

The most use cases of blockchain network after cryptocurrency is the adoption as the development platform for Decentralized Apps.

Ethereum was created in 2014 and till date, while referring DAppRadar it has around 1400+ DApps built upon it.

This count is reducing day by day, as it was earlier more than 1800+ DApps, the reason is the Tron (TRX) and EOS.

EOS is introduced in 2017 and its main net launched in 2018 and in just 1 year around 379 DApps have been developed.

EOS Dapps Radar

Which is even increasing every week and month continuously. Hence in the race of EOS vs Ethereum for the adoption of DApps EOS is growing massively.

It is obvious that Ethereum is currently holding more DApps and EOS less but maybe in the next 2-3 year, this count may be reversed.

Future of EOS vs Ethereum

Well, in Crypto world no one can predict the future, what we can understand is the future growth possibility and technical possibility of any platform to grow.

While Referring the Etehreum back in 2017, it was the only smart contract providing platform and many ICO were launched on the Ethereum blockchain network.

Those Tokens are still operating on the Ethereum network and Ethereum has currently one of the largest strong community behind it.

Which ensuring the current price stability of the market, few companies like Airbnb and Uber have started building DApps on Ethereum test net and many more are planning to do.

Now, if you ask me should I buy Ethereum than check our detailed guide on Ethereum investment.

EOS has not yet proved anything big, it is a very new platform and already got good hype of the market.

People are expecting that the team will do some big announcement in the coming future as they have allocated around 1 Billion USD for marketing only.

It seems like the team is waiting for the market to be bullish and they may start promoting their network.

But this is pure my speculations not any official commencement from EOS team.

While referring the current price movement of Ethereum which is trading around 170 USD/ETH however EOS is around 5 USD/EOS.

Ethereum is still holding position #2 in top 10 lists of market capitalization however EOS is at #5.

It will not be easy to beat Ethereum by EOS in a short period of time, it may take time to do so if the EOS team is able to deliver every promise on time.

Well if you ask me, EOS will be the killer of Ethereum then time will tell us, as the technical specs of EOS is looking better that Ethereum but what about adoption no one knows.

My View on EOS vs Ethereum

Ethereum looks the second generation of the blockchain network, where the additional use case as the smart contract introduced including cryptocurrency.

It was able to solve the problem of Bitcoin scalability issues but now technology is moving very fast.

Only 15 TPS is even far less than VISA 1500 TPS payment network, which gives EOS more opportunity to grow as it has around 4000 TPS.

Owning a resource of EOS blockchain network making easier for any project planner to predict the future cost of the project, however, this is not the case with Ethereum

Ethereum is the most trusted platform after Bitcoin, it also has a very strong community behind it, which ensure the future of Ethereum

However, EOS is very new and it has a lot much to prove in the coming future. If you would ask me as an investor which looks more promising in EOS vs Ethereum?

I bet on EOS more than Ethereum but be remember Ethereum is still the king of Crypto after Bitcoin. Which is not easy to beat by any newbies.

What do you think let me know in the comment box and if you like this post then check Cardano(ADA) and Stellar(XLM) may also the game changer of cryptoCurrency.

Kirtish Vyas

I am an Engineer and a passionate Blogger, Who loves to share the tips on Blogging, SEO, Google Ranking, Digital marketing, passive income, Cryptocurrency, and Blockchain Technology
Kirtish Vyas

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