Inviting @LifeStoneTrading to Debate Against EOS Part 1
What's Up Crypto Nation!
EOS VS (ETHEREUM OR GOLEM)
Today I am inviting my good buddy @lifestonetrading to debate me in a protocol debate. I am obviously a staunch advocate for EOS and the many projects currently being built on top of it. My buddy will be free to choose another protocol.
Recordings
Part 1
Part 2
Outline
Pro EOS Block
Value: Mainstream Adoption
- Provides the vitality of the blockchain
- Brings evaluation mechanism beyond Tokenomics
- Utility brings measurable value
Criterion:
- Every day users
- Household Branding
- More money in people (rise in demand as populations rise)
- Security
- Effectively securing data, finances, and inter-connectivity
- Individualism
- Individualism is key in the newer generations
- Customization attracts users
Scalability
A. Speed
3K TPS
B. DPoS
-More democratic
- More Byzantine Fault Tolerant
Security
A. Solidity vs C++
Easier to make errors on solidity
B. Conflict Resolution
Means to reverse ill-intended or unintended errors / transactions
User Experience
A. Programer
- C++ vs Solidity Ease of Use
- How many Solidity devs vs C++
B. UI
-Chrome Extensions suck - DApps already built make EOS better (2 months devs vs years)
I like your total assessment of EOS and I think a lot of your points are very accurate. In fact, I have no reason to deny your logic.
There is one thing you have missed though and I think I know why. You are studying crypto from a microeconomic perspective focusing on a chain by chain situation. I look at crypto, and even the subjective projects, from a macroeconomic perspective. I don't really care if X project goes live or if X project ends up being a scam because I focus on the different categories inside crypto.
EOS and Ethereum are not competitors, and I don't think this attack on either side is very effective outside of a vehicle for educational purposes. You know a lot about what businesses and consumers look for in a product, but I don't think you've zoomed out enough to see what the world looks for in crypto especially across different states.
I see EOS as great for low to mid security Dapps such as video games, e-commerce, or Office products. I see Ethereum great for much larger high-security projects such as tax records, trading lots on the foreign exchange market, and securing funding between the central banks and the institutional banks.
The forex market is my specialty. I've written about the benefits that projects such as Golem, Streamr, OmiseGo, and Ethereum Alliance have for traders. I've personally done an interview with Henri Pihkala and one of the reps at CBOE. I asked them where they see the future of trading going when it comes to blockchain and both of them quoted OmiseGo as the most anticipated project right now in their industry.
Plasma chains are like highways and the Ethereum network is like a ramp to that highway. There are on chain transactions, and off chain transactions. Every day the brokers halt retail trading and they trade the lots with the central banks. This is a great example of the efficiency of on and off chain transactions. Now imagine those lots are traded through a gateway that the central banks create using OmiseGo's SDK and now everything is massively more secure. When it comes to trillions of dollars traded every single day there is absolutely no room for the possibility of a mistake.
Having a closed system that is a decentralized Turing complete Byzantine fault tolerant network means there is little to no room for error. The transactions are irreversible and the decisions are made instantly.
Turing complete is the biggest keyword. EOS maintains its transactions rate because it isn't turing complete. It's pseudo complete enough to pass, but it still requires a human voting system. EOS praises this feature but to most crypto enthusiasts it is a flaw, not a feature. The reason crypto came to me is the fact that it is permissionless. It knows that humans, and their social structures, are not to be trusted and it aims at completely eliminating any democratic human component.
At the end of the day, humans are flawed. You can make them less flawed by creating a constitution sure, but the possibility still exists as long as humans are allowed to interfere. If the constition is so perfect then I don't understand why it can't be automated cutting out all human compenents other than the user.
Until this is changed and the system rejects any and all form of human democratic interference I cannot support EOS.