EOS

EOS vs Cardano – Are they Really “Sleeping Giants”?

EOS vs Cardano – Are they Really “Sleeping Giants”?

EOS and Cardano have announced some noteworthy updates regarding the ongoing development of their platforms. The crypto community is keeping a close eye on these projects, which some refer to as “sleeping giants”. However, many people have a difficult time understanding what exactly these platforms will do (and how they work) once they’re launched. This is primarily due to their highly technical nature, as is the case with most crypto platforms.

So, let’s try to understand what actually EOS and Cardano aim to do and how they plan to do it.

What is EOS?

EOS, according to the official eoscountdown.com website:

[is] software that introduces a blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications. This is achieved through an operating system-like construct upon which applications can be built. The software provides accounts, authentication, databases, asynchronous communication and the scheduling of applications across multiple CPU cores and/or clusters. The resulting technology is a blockchain architecture that has the potential to scale to millions of transactions per second, eliminates user fees and allows for quick and easy deployment of decentralized applications.

In order to understand this better, I’ll start with an explanation of what horizontal and vertical scaling of applications means. A blog post from G2TechGroup states that horizontal scaling is the process by which computing machines are added onto a computer network in order to increase its processing power. Meanwhile, vertical scaling increases the processing power of a software system by upgrading the hardware on a single machine. To make this concept more clear, the G2TechGroup blog post compares vertical scaling to selling off an old car and buying a newer one that might have much more horsepower, like a Lamborghini.

Horizontal scaling would be something like choosing to keep driving your old car while also buying a new car or even cars. Then, let’s assume that none of these cars quite have the horsepower to match that of a Lamborghini, but all of them combined will deliver all the horsepower you’ll need. So, one could say that horizontal scaling is being able to achieve the same amount of processing power, but in a distributed manner.

EOS aims to Create “Operating System-Like” Infrastructure

So, with EOS, we need not be limited to either vertical or horizontal scaling. We can use both. And, according to EOS.io, this will be possible by developing an “operating system-like” infrastructure that will allow developers to create applications on it. Once launched, the crypto-platform will have ready-to-use accounts templates and built-in authentication features. Accounts, according to the platform’s FAQs, will be simple to create and will not require users to rely on remembering complicated cryptographic keys.

The EOS network aims to take care of key management and authentication, thus allowing its users to dedicate their efforts toward building the actual applications they intend to. Theoretically, this might dramatically increase the rate at which applications could be developed in the future, because of potentially far less overhead for programmers.

So, as you can see with image above (taken from this Steemit post), it appears as if EOS will be something like an operating system designed to work on massive amounts of super heavy-duty servers. Just like operating systems for servers have databases and schemas, so will EOS. There will also be a web-based tool that will allow users to create interactive interfaces. The stated goal behind this is to make the system and applications more usable.

What is Asynchronous Communication & Scheduling of Applications?

Asynchronous communication, which is planned to implemented on EOS, allows network users to message each other “as schedules permit”, instead of relying on an automated timer that is in sync with the recipient and the sender. Also, with asynchronous communication, senders and receivers can communicate in real time. This method of communication is best described by transmitting messages “intermittently” instead of following a “steady stream”. If you’ve been following how I am attempting to dissect the quoted explanation above of what EOS plans to be, then you will now be wondering what is meant by “scheduling of applications”, another feature that this crypto-platform aims to offer.

A basic computer science course on operating systems will teach you that application scheduling is the method through which a computer’s resources (CPU / RAM) are allocated to various tasks. Application scheduling is executed by a computer(s) operating system. So, as I sit here and type this blog, the operating system running on my computer is managing and scheduling all the tasks, such as auto-saving my Google Docs document. In my case, application scheduling is only assigned to one CPU, the one on my laptop. With EOS, application scheduling will be handled “by multiple CPU cores and/or clusters.” So clearly, there will be a very large number and network of distributed computing systems that will process applications running on EOS. The number of processors will continue to grow as the EOS network becomes larger, thus making it even powerful with time.

So, what will the “resulting technology”, based on this implementation, give us?

Millions of Transactions Per Second

The EOS team says that their platform will be able to accommodate and process “millions of transactions per second”. If this happens, then the scalability issues affecting major crypto platforms like Bitcoin and Ethereum will be resolved. Not only that, but EOS will not have transaction fees; high transaction fees has been a major complaint cited by Bitcoin users. Furthermore, the EOS infrastructure will enable developers to easily launch dApps due to its network being able to handle all the basic network management tasks.

So now that I have explained what EOS is (basically) about, let’s take a look at Cardano. But before I jump to Cardano, I should tell you that I have not gone over everything related to EOS. That would be beyond the scope of one article, so you can expect us to publish more articles which continue to take a more in-depth look into EOS and other crypto-platforms.

EOS vs Cardano

Instead of describing only what Cardano is, which was covered by us here , I will explain what Hoskinson’s project is about, while comparing it to EOS at the same time. Some would argue that it might be “comparing apples to oranges”, but I think comparing both platforms does help with analyzing them. So, let’s start…

A post from Investopedia states:

“What EOS, Cardano … have in common is a link to Ethereum. Each is, in some way or another, modeled after Ethereum, and each is also attempting to supplant Ethereum by improving upon the larger cryptocurrency’s shortcomings.”

The post then points out several issues that Ethereum has such as scalability, security vulnerabilities, governance problems, and its ERC-20 token being used to launch “fraudulent ICOs”. Furthermore, a Reddit discussion comparing EOS and Cardano reveals that the best we can do, before these platforms are actually launched, is to make “educated guesses” and purely theoretical arguments as to what will set them apart. Here are a few notable comments from Reddit users:

 

 

As you can see in the comment above from mpcane, he argues that EOS, Cardano, and Ethereum all have their particular use cases and all three might be used in the years to come. Additionally, some developers like to work with objected-oriented programming languages such as C++, so for them, EOS might be the preferred platform. Cardano uses Haskell, which is a functional programming language like the older LISP, so some programmers might prefer working with that. In other words, a lot of it could come down to personal preferences and what a programmer likes and feels comfortable with.

Here’s a comment Dan Larimer made a month ago:

So, clearly Larimer claims that Ethereum code can be migrated to EOS. However, we shall see if this is the case, once EOS mainnet is launched of course.

I’d have to agree with comments above that if EOS will be able to do all what Larimer claims it will be able to, then EOS stands a very good chance of surpassing Ethereum in terms of not only market capitalization, but also adoption. Moreover, we could even see many of the platforms launched via ERC-20 tokens migrate over to EOS, provided it is in fact superior to Ethereum.

One thing that comes to my mind is what will happen to EOS and Cardano once quantum computers begin to threaten the binary-based blockchains of today? IOTA and Quantum Resistant Ledger are already preparing for that. Just one more thing to think about…

I plan to continue this discussion in future blog posts. Please note that this is by no means an exhaustive analysis of EOS and Cardano, but rather something to stimulate further productive discussion. Finally, I hope you enjoyed reading this article, and please take some time to check out our monthly magazine with 100% original content!