The debate over EOS versus Ethereum has persisted since EOS first launched last year. It was a discussion we held internally when we began the planning process for our own blockchain-based technology.
Our criteria for evaluation was simple: We needed to choose a technology that could support an unbounding financial market, assist with heavy regulation, and is consumer centric.
In the end, it wasn’t a fair fight. To build an enterprise-grade financial product using blockchain with high scalability, low latency and zero transaction fee, EOS was our choice. In our opinion, it is currently the best available public blockchain platform. We chose EOS for several key reasons:
First, and perhaps most obvious, is EOS’ ability to execute more transactions per second than Ethereum. This functionality is essential for supporting a feasible financial marketplace with the potential to scale multiple times over. Established, sophisticated markets are comprised of tens of millions of trades per day. The Nasdaq, for example, records more than 10,000,000 total trades every day the market is open, in a six-and-a-half-hour span.
While no blockchain technology is at quite that capacity, EOS currently can execute more transactions per second than Ethereum. For comparison, EOS can handle 1,000+ transactions per second (tps), whereas Ethereum can currently support 10-20 tps. The all-time high transactions per second number as recorded in the EOS network monitor is 3,996. With Ethereum, it is around 26 tps. On a cumulative scale, this difference only magnifies.
Second, EOS’ design means we can scale our platform with no impact to users, regardless of whatever may be running on the blockchain. This is critical to the longevity of our business and thus an essential criterion for our decision. The EOS platform is designed for parallel execution to scale to theoretically millions of transactions per second.
Third, EOS provides an extremely robu...