Five major advantages of EOS

2017-12-06

Higher level decentralization

According to the POW workload proof mechanism, Bitcoin's mining machines are becoming more and more powerful. With the emergence of super mining machines and mining tyrants, the computing power is increasingly concentrated. The top five mining pools of Bitcoin master more than 60% of the calculations. It can be roughly thought of as five super nodes. PoW, the most decentralized design, has gradually become more centralized in reality, causing doubts and even panic in the market.

The above figure shows mining pool share statistics for one year from BTC.com

Under the DPOS mechanism, although EOS has abandoned partial decentralization and became a weakly centralized or multi-centered model, the 21 supernodes have equal checks and balances. This is Similar to the corporate board system. As a whole, it is more decentralized than the increasingly centralised BTC as the mining dominates.

Excellent security

The core of the blockchain is security, safety always comes first. Bitcoin partially solves the problem of double payments, but still faces the risk of 51% attack. It is not difficult for the government or large consortium to carry out the attack.

The transparent forging mechanism and the ability of super-nodes to resist 90% of attacks are considered that the possibility of dual payment is eliminated. The acquisition of 90% of the currency is not feasible in reality. Even if a large consortium has enough power to do so, it will lose the motivation for attack after the acquisition.

Faster transaction processing capabilities

The transaction processing capacity of the VISA system reaches 10,000 times per second, Bitcoin can only reach 7 times per second, and Ethereum can only reach 20 times per second.Obviously, it seriously restricts the large-scale application of the blockchain project.

At present, the worst of EOS transaction processing capacity is 1000 times per second, the average is 3000 times per second, the best situation is 6000 times per second, ideally 8000 times per second. Through the cross link communication technology, it can realize millions of transactions per second , which is close to or even exceed the level of the VISA, and that already possesses the necessary conditions for large-scale commercial.

more energy-saving and environmental protection

Under the POW workload proof mechanism, Bitcoin mining needs to consume a large amount of costs, such as: mining machine fees, electricity bills, etc. Costs are ultimately paid by users, and funds continue to flow to the miners, eventually to the grid and mining machine manufacturers.

Bitcoin network energy consumption is very high, and it has cost about 2.37GW of electricity. What does it mean? If we use solar panels to power the Bitcoin network, we need 10,915,248 peaces of solar panels. If we place a panel every 10㎡, we need 109k㎡ of land to provide power for the Bitcoin network, which is equivalent to the entire area of Yantai City in Shandong.

Under the DPoS entrusted proof of interest mechanism, the EOS block is no longer produced by "power mining", but by the 21 super nodes produced by voting. The energy consumption is only generated by the node server. Compared with the Bitcoin, The energy consumption of the network is negligible.

Sovereignty and Governance

Under the POW mechanism, bitcoin miners have the right to decide (ie, the power to vote) and the right to manage (ie, the right of block accounting). While the currency holder is the owner of the system, it does not have the corresponding rights. This is like the separation of sovereignty and the governance; without the right to control, the sovereignty will be virtual.

Under the DPOS mechanism, EOS users are miners, where sovereignty and governance are combined. The share of governance rights is the same as the holding of coins. With the same shares and the same rights, users are the real masters of the company, and this is more reasonable.