This article entails a brief analysis of the EOS blockchain advantages over Ethereum for dApp and whether businesses can use its smart contract development services for their decentralized applications or not.
EOS is an open-source blockchain platform for decentralized application (dApp) development. Given the EOS advantages over Ethereum, crypto enthusiasts are considering EOS.IO as a suitable and efficient blockchain for dApp development.
EOS provides blockchain developers with an easy solution for application hosting, executing smart contracts, and other operating systems like services.
EOS is giving tough competition to its adversaries. It’s because of the speculation of EOS as a centralized bank. Or the blockchain wants to achieve the top spot in the list of most promising blockchain projects. Although its previously exposed vulnerabilities and other technical issues halted its adoption for a while, EOS didn’t have a hard time.
This blockchain always seems to be in news and therefore it is not fading from the mainstream.
Now, let’s move on to the EOS advantages for decentralized application development and find out whether is it really the "Ethereum Killer."
Also, Visit: Why EOS Is Being Called the “Ethereum Killer”
Investors and traders use GitHub activity to track potential investments. GitHub commits are an easy way for investors to find out the recent updates to a codebase. And, it also helps in measuring the progress in development concerning the cryptocurrency roadmap.
Visa processes more than 20,000 transactions per second (TPS). Also, currently, most of the smart contract development platforms can manage only 100 TPS. As per the claims, EOS can manage up to 4000 TPS with the goal to reach TPS in millions in the future.
Explore More: Why is EOS blockchain the Best Platform for Commercial-Grade DApps
EOS involves no mining process. It gives the block producers added flexibility. It prevents bad actors to do anything malicious. Additionally, unlike other blockchains, it is possible to restore control of your account with EOS if you’ve lost your keys.
Not only this but also if someone alerts about a bug in a dApp, EOS freezes such accounts once it achieves a 15/21 vote agreement among the block producers.
Another advantage is that it allows updating the code of an improper or faulty contract without involving hard forking.
Eosfinex boasts of being the world’s first high-performance decentralized exchange. It shared the plans for developing a decentralized exchange on EOS. The reason to choose EOS for development is that the platform provides a transparent and trustless method for cryptocurrency trading.
The EOS Github has listed a document about EOS storage. Developed using IPFS, it explains a decentralized storage solution. EOS dApp development could utilize this document to decentrally store data without involving any third party.
In reality, Wikipedia co-founder is planning to develop Everipedia using EOS. According to him, after analyzing all possible solutions available, he finds EOS is way better than Ethereum for his project.
Check It Out: EOS Blockchain | A Beginner’s Guide to DApp Development
EOS blockchain is promising a future with more business opportunities. If you are interested in utilizing this platform for your business then you require the right service partner. Oodles can assist you in achieving your desired solutions using the EOS blockchain. Contact our EOS developers to start your blockchain journey today.