Vitalik Buterin and Dan Larimer collide

ETH vs. EOS as Vitalik Buterin and Dan Larimer collide on Reddit
03 August 2017   1934
Blockchain

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. 

Ethereum

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 reddit.com 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
EOS CTO

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. 

'Kodak Miner' Turned Out to be a Scam

KashMiner by Spotlite USA was promoted as Kodak branded bitcoin miner 
17 July 2018   111

The KashMiner bitcoin miner, exhibited at the Kodak stand during the CES technology show in Las Vegas, was in fact a product designed to mislead potential consumers and with a potentially unattainable potential return. This is reported by BBC.

Spotlite USA is licensed by Kodak's lighting division, which allows it to use the famous brand in its products. In January 2018 the company introduced its miner and announced that it intends to lease it. According to its business plan, potential users had to pay a commission before getting the device. It was expected that after depositing $ 3,400, the customer will receive a device that will allow him to easily cover expenses and receive revenue from bitcoin mining.

However the company did not have an official Kodak license to use the brand in the production of mining equipment and initially overstated the indicators of the potential profit of its device, refusing to take into account the growing complexity and costs of bitcoin mining. The advertising materials reported that KashMiner brings $ 375 a month, which, subject to a 2-year contract, would allow the client to receive $ 5,600 of profit after paying a commission. Experts from the industry of cryptocurrency call this offer a scam.

There is no way your magical Kodak miner will make the same $375 every month.
 

Saifedean Ammous

Economist

CEO Spotlite USA Halston Mikail previously reported that he plans to install hundreds of miners at the headquarters of Kodak. According to him, he already managed to place 80 miners there, but the Kodak spokesman denied this information.

While you saw units at CES from our licensee Spotlite, the KashMiner is not a Kodak brand licensed product. Units were not installed at our headquarters.
 

Kodak Spokesman

In a phone call with the BBC, Spotlite's Halston Mikail said the US Securities and Exchange Commission (SEC) had prevented the scheme from going ahead.