Vitalik Buterin and Dan Larimer collide

ETH vs. EOS as Vitalik Buterin and Dan Larimer collide on Reddit
03 August 2017   2770

Distributed database that is used to maintain a continuously growing list of records, called blocks

Vitalik Buterin and Dan Larimer, the two of the biggest names in Blockchain technology world, are having a conversation on which of their two systems (Ethereum and EOS) has better overall usability for transaction numbers. 


Is an open-source blockchain-based distributed computing platform featuring smart contract functionality, which facilitates online contractual agreements 

The conversation is held publicly - on Reddit, more precisely. 

Thus, the first one to get involved in the discussion was Buterin, who responded to an Ethereum Reddit thread post claiming that EOS was far superior to Ethereum because of the number of transactions and flexibility that Ethereum cannot offer:

Vitalik Buterin vs Dan Larimer on Ethereum Reddit thread post

Vitalik Buterin argued that EOS while offering large numbers of transactions but through a system that removes the protections of Merkle proofs and makes it impossible for regular users to audit the system unless they plan to personally run a full node. Then the Ethereum co-founder claimed that the nature of EOS decentralization through DPOS causes undue reliance on voting, which has proven problematic in the past with low voter turnout and little to no voter incentive.

Buterin also took issue with EOS fees, since transactions are linked directly to coins held, making it costly for poorer users:

The poor, who are not interested in putting the entirety of their often very low savings into a funky new crypto asset in order to be able to use a Blockchain.

Vitalik Buterin
Ethereum co-founder

Dan Larimer, in his turn, did not hesitate to respond to Vitalik's remarks. Thus, he addressed the difference with EOS and validation, stating that Ethereum is built more on a system of trust with the block producers, whereas EOS has a faster and more simple sync feature for those who are not producing full nodes, making it easier to validate.

Larimer also dealt with voter turnout, mentioning that measures have been taken to increase voter appearance and participation. He also addresses fees, noting that those who use the EOS chain generally have tokens beforehand, and that the usage to cost ratio will eventually stabilize because of market forces.

Once again critiques of DPOS, EOS and STEEM are based upon flawed economic assumptions, misinformation and ignorance/denial of vulnerabilities in their proposed solutions. I fully recognize that voting is not ideal, but it is currently the best approach when factoring in all risks, attack vectors, and recovery options.

Dan Larimer

Thus, the future of Blockchain technology is up in the air. Ethereum and EOS are wrestling with each other for who will be the platform of choice as Blockchain continues to increase in popularity and widespread use. Who will win this competition, remains to be seen. 

Bitfury to Unveil BTC's Lightning Network Tools

An open-sourced LN wallet, software and hardware payment acceptance solutions, etc
23 January 2019   77

Bitfury Group presented a number of tools designed to foster the development of the Lightning Network (LN), CoinDesk reports.

Among them: an open-sourced LN wallet, software and hardware payment acceptance solutions for merchants and payment processing. The company also introduced tools for developers and an open-source LN node called The Peach.

According to Bitfury representatives, all these tools are designed to make working with a second-level network easier and more convenient for companies and ordinary users. New products created by the Lightning Peach team.

By providing these products to the market, Bitfury is encouraging worldwide adoption of this technology and providing unparalleled support to consumers and merchants.

Valery Vavilov

CEO, Bitfury

Among other things, last week Bitfury added support for LN solutions on the BTCBIT cryptocurrency exchange.