EOS and Ethereum are two of the popular and highly valued cryptocurrencies in the market. Both of these projects share a lot of similarities but at the same time they have their major differences.
EOS is a blockchain technology that has been introduced by Block.one, a company founded in 2017. The EOS project aims to provide more scalability and flexibility than ethereum.
It has some features that make it seem better than ethereum:
- EOS transactions are free.
- It has the ability to freeze certain accounts if they are found to be compromised or contain illegal activities.
- It allows for parallel processing of transactions.
- It requires only 1 confirmation for irreversible transactions.
EOS is a blockchain, smart contract, and decentralized application platform which features horizontal scaling. It can process millions of transactions per second.
Ethereum is a decentralized platform to build dapps with smart contracts. It has the first-mover advantage in this space, but it is slow because it can only handle 10 transactions per second. Some people say that it’s because the blockchain cannot be scaled to handle more transactions for now, but others say that it’s an intentional design choice because Ethereum aims at decentralization instead of scalability.