The crypto world is waiting with bated breath for the Merge, Ethereum’s long-awaited switch to a proof-of-stake verification model. Many see it as one of the most anticipated upgrades in crypto since Ethereum launched in 2015. But what if there’s already a blockchain with proof of stake that is far more scalable? Enter the EOS blockchain, also known as the Electro-Optical System.
The EOS Blockchain vs Ethereum
As previously mentioned, the EOS blockchain already works on a proof of stake consensus method. Though, that’s not the only thing it has going for it. Besides PoS, of the upcoming Ethereum upgrades, sharding is probably the most significant. It’ll vastly increase the scalability and efficiency of the Ethereum blockchain. But, the thing is, EOS is already highly scalable.
EOS has some distinct features that separate it from Ethereum. For instance, the EOS blockchain works with EOS.io, a native web3 development toolkit. The toolkit makes the EOS blockchain great for hosting DApps, or decentralized applications, making it a direct competitor to Ethereum. But also, EOS does everything Ethereum does, but it’s more scalable and faster.
Vitalik Buterin on EOS
Ethereum co-founder Vitalik Buterin even weighed in on the competitor to his creation. Even he acknowledged that EOS outperforms Ethereum. Buterin tweeted, “EOS is Ethereum On Steroids. The name reflects the fact that the core team learned from Ethereum’s amateurish naivety and idealism, and built out a team of professional top-talent software developers that created a smart contract platform with much higher scalability and speed.”
$EOS vs $ETH
Don’t be misled. Though EOS is theoretically the “better” blockchain, Ethereum is still far more popular. As of publication, EOS’s token, $EOS, trades at just over $1 and has a market cap of just over $978 million. $ETH, though still down significantly, trades at just over $1,200, with a market cap of $149 billion.
EOS is technically the more advanced blockchain. Ethereum’s creator said so. (Though, you should take his words with a hint of sarcasm.) But blockchain tech is still in its relative infancy compared to other tech industries. So what do you think? Will EOS outperform Ethereum one day?