Ever wanted to know the key differences between EOS vs Tezos and Ethereum? Well now’s your lucky chance. We’ll be taking a look at various aspects of each blockchain, how they differ, and their respective histories. You don’t want to miss out on this one.
History of Ethereum, EOS, and Tezos
Ethereum was first proposed by Vitalik Buterin in 2013, but went live on 30 July 2015. Ethereum is known for introducing the concept of smart contracts. It’s an open-source blockchain platform that facilitates the building of decentralized applications (dApps), and cryptocurrency trading. At the time of writing, it has the second highest market cap, only following Bitcoin. Ethereum underwent a hard fork in 2016, splitting into Ethereum (ETH) and Ethereum Classic (ETC). Ethereum remains the more popular blockchain.
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EOS is the youngest of the world’s top 10 cryptocurrencies, only going live in June 2018. It sits at number 7 according to market cap, and remains a really popular choice for dApp developers. EOS works on a DPOS consensus algorithm, and relies on its users to vote in block producers who then provide computing power and verify transactions on the EOS mainnet by collecting transaction information and broadcast the blocks to other block producers.
Development of the Tezos whitepaper began in 2014, although it was only launched in July 2018. Tezos, and it’s cryptocurrency XTZ, is well known for its record-breaking ICO, which raised more than $232 million USD. According to the website, Tezos is a “new decentralized blockchain that governs itself by establishing a true digital commonwealth.” Tezos is a liquid proof of stake system which requires a user to stake a certain amount of tokens to participate in the network. Holders can either vote on Tezos policies themselves, or can appoint a delegate to vote on their behalf. The delegate can also appoint another delegate to vote for them.
https://www.youtube.com/watch?v=It96bIBPXZ0
Let’s take a look at EOS vs Tezos and Ethereum:
| Ticker | ETH | EOS | XTZ |
| Market Cap (time of writing) | $19,923,226,871 billion | $2,953,620,885 billion | $608,799,454 million |
| All Time High | $1,432.88 USD
(13 Jan, 2018) |
$22.89 USD
(29 Apr, 2018) |
$10.00 USD
(17 Dec, 2017) |
| Consensus Algorithm | Proof of Work (For now) | Delegated Proof of Stake | Proof of Stake |
| Transactions per second | 15 | Up to 3000 | 40 |
| dApps (number) | 2637 (According to State of the Dapps) | 304 (According to State of the Dapps) | 61 (According to Tezosprojects.com) |
| Block Time | 13 to 14 seconds | 500 milliseconds | 60 – 65 seconds |
| Total Supply | Unlimited (Released 7.4 million in 2018). | 1,033,475,257 | 801,312,599 XTZ |
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#Blockchain is more than a market. It’s a movement.
— Joseph Lubin (@ethereumJoseph) December 1, 2018
A comparison
When we look at a comparison between EOS vs Tezos and Ethereum, it’s pretty clear that they’re all very different from each other. Ethereum holds the highest market cap, and most dApps, and functions on a Proof of Work consensus algorithm. Contrastingly, EOS and Tezos work with Delegated Proof of Stake and Proof of Stake algorithms respectively. EOS has the fastest transaction speeds, followed by Tezos and then Ethereum. So, now that you know a little more about each blockchain, you can make an informed decision when it comes to trading their tokens.
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