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Ethereum vs EOS: Which one is the Vanquisher?

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The architectural framework of Ethereum and EOS is very similar. In this Ethereum vs EOS article, let's figure out the differences between the two.

Introduction

Bitcoin was the world’s first cryptocurrency, whose foundations were based on the principles of the Blockchain Technology. Prior to Bitcoin, a number of other cryptocurrencies existed, but many of the users constantly reported on the double spent problem. This vulnerability in the earlier cryptocurrencies was most exploited by the hackers. With its immutable Ledger, Bitcoin effectively solved the double spent problem. Even the year 2009 was somewhat favourable for the initiation of such an era of cryptocurrencies, as in 2008 itself, the world had experienced an economic crisis. Followed by which a number of other cryptocurrencies where developed. Some of the most prominent ones being Ethereum, Ripple, Litecoin, EOS, Cardano, etc. However, the architectural framework of Ethereum and EOS blockchain is very similar to each other. In this Ethereum vs EOS article, let’s figure out the differences between the two.

 

Ethereum vs EOS

The actual working model behind both the Blockchain networks is vested completely with the creation as well as the improvement of the Smart Contract functionality. Although Ethereum is far more superior than EOS with respect to the market dominance, due to the bottlenecks experienced by the Ethereum Blockchain, the goal of EOS is to overcome all the drawbacks of Ethereum for a highly efficient implementation of the smart contracts functionality.

 

Ethereum vs EOS: Scalability

The Ethereum blockchain was mainly developed to provide an environment to run Smart Contracts, but due to the exponential rise in the transactions with the increased popularity of Decentralised Applications, the Ethereum Network experienced a high traffic in its network. This scalability issue is taken into account by the EOS community and they have improved on the attribute.

Ethereum vs EOS: Decentralization

Ethereum incorporates the proof of work mechanism for the mining purpose. The mining activity is becoming Centralised as few mining pools cover more than 50% of the total network. This has been overcome by the EOS, as there are only 21 equal priority nodes and hence effective Decentralization is achieved.

Ethereum vs EOS: Vitalik vs Larimer

Both of the founders are looking to solve a similar problem. The only feature that differentiates the two, is their strategies to implement the same. While Vitalik is famous for his bizarre nerdy characteristics as a child, Dan Larimer has been alleged as a scammer. Also, his project EOS.IO is also rumoured as a scam. Nevertheless, both the Blockchain are on a head to head competition and are highly potent.

 

Ethereum vs EOS: ICO

It estimated that the EOS community managed to raise a whopping $4 billion in its ICO, due to which speculations are on a rise, as people are questioning about the use of such huge amount. It is common sense that we don’t require $4 billion to develop and maintain a project. This is a very huge amount when compared to that of the Ethereum.

 

Ethereum vs EOS: Popularity

EOS has experienced a widespread adoption by a number of venture capitalist as well as the public, prior to the launch of the main net itself, this is very rare in the crypto community. The investments pushed the market capitalization of the EOS Blockchain up to $17 billion, prior to the launch of the end product itself. Nevertheless, Ethereum dominants when the popularity is viewed from a broader mindset.

Ethereum vs EOS: transaction fee

The Ethereum Blockchain incorporates something known as gas price with each and every transaction for its faster confirmation. Hence every user needs to pay some gas price for every transaction there undertake on the Ethereum network. On the contrary, the EOS blockchain community claims for, the confirmation of all the transactions, completely free of cost. Although Ethereum might be the second most valued cryptocurrency EOS, with its amazing features, if implemented in a proper way, might overtake it.

Ethereum vs EOS: Future

The Ethereum network was launched in the year 2015, but EOS has been launched very recently in 2018. EOS could surpass Ethereum, if it could serve thousands of EOS transactional confirmations per second, instantly with free of cost. The Ethereum network is still stuck with 15 transactions per second. However, even Ethereum is also future ready with its four proposed models to tackle scalability, with Plasma and Sharding being the two prominent one.

#Bitcoin

Can Bitcoin be Traced?

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Earlier it was challenging to trace Bitcoins, but current technology has led to practical ways of tracking stolen bitcoins.

Earlier it was challenging to trace Bitcoins, but current technology has led to practical ways of tracking stolen bitcoins.

To track the person who received the bitcoin, the address owner must be aware of it.

However, governments do not want bitcoin owners to be unknown, and they are trying to regulate bitcoin in a way that can be monitored.

It’s nothing new since people have been doing blockchain analysis and bitcoin tracking since bitcoin was used to exchange stuff on the internet.

 

Is Bitcoin Anonymous?

As Bitcoin has become more popular and some criminal activity has been disclosed on the Bitcoin network, many people have wondered whether their Bitcoin transactions are anonymous or whether there are some essential complexities that they should be aware of.

Bitcoin tumblers allow many different users to put their cryptocurrency in a “bucket” and then return the same bitcoin value to each user, but with bitcoins put into a bucket by other users.

Bitcoin is not entirely untraceable, but it is a common misunderstanding, as Bitcoin is well known for masking user identity.

 

Users who rely on bitcoin exchanges ( such as Bitfinex, Binance or Kraken ) to exchange money for bitcoin must disclose their personal information to such an account.

However, governments are beginning to introduce new rules that could force an anonymous Bitcoin exchange to verify the identity of a new user before allowing them to purchase Bitcoin with fiat currency.

Create multiple addresses so that bitcoin can be randomly distributed, making blockchain analysis more difficult and anonymous.

 

Bitcoin is often presented as an untraceable payment method that facilitates illegal activities by allowing criminals to make and receive payments without being monitored.

There are many ways in which the identity of a person can be exposed to bitcoin transactions.

 

Now you have your bitcoin clean; you don’t want to waste all the hard work of using it in a trackable transaction.

As such, if you can pay with bitcoin and rely on the trader not to keep any PII records, the purchase may be anonymous.

If you prefer to spend your bitcoin on other cryptocurrencies or cash, the easiest thing to do would be to go to the exchange.

Portfolios, currency exchanges, mixing companies, and P2P sites have all been used to cheat bitcoin users.

Keep in mind that bitcoin is still the most widely accepted cryptocurrency.

 

Bitcoin is the only virtual currency with enough people who want to buy it to become moldy.

Cybercriminals use the creation and monitoring of Bitcoin portfolios, which can be done automatically, helping them find out which victims have paid.

Bitcoin transactions are public and contain all the information we need to track ransom payments, provided that we know which wallets to look at.

In most cases, payment tracking is not as easy as cybercriminals move bitcoins through multiple wallets to avoid payment tracking.

 

So, if you’re still thinking about using Bitcoin for your transaction gateway, be careful that you can track it as well.

Most users use online bitcoin exchanges to exchange bitcoins for real currency, such as bitpay, coinbase, localbitcoins, etc.

As the number of pro traders is slightly lower in online markets, it is easy to look at the bitcoin transaction by going to their bitcoin address.

 

Oaktar can be used to collect much more than the information needed to identify and link someone to specific Bitcoin addresses and transactions and can do so without relying on cryptocurrencies.

As alarming as oaktar and its activities, no new information has recently emerged to indicate that the NSA has expanded its Bitcoin monitoring efforts to other cryptocurrencies.

These protocols include CoinJoin, Dark Wallet, bestmixer, io, sharecoin, and coinwap, all of which also offer Bitcoin and other cryptocurrencies the possibility of anonymizing their transactions.

In the meantime, the more direct and intrusive methods of the NSA are also based on the fact that crypto users unconsciously compromise their internet connections, which could not be expected to monitor all cryptocurrency transactions in mass.

 

Bitcoin, the Internet currency loved by computer scientists, libertarians and criminals, is no longer vulnerable.

But Bitcoin ‘anonymity is also a powerful tool for criminal financing: virtual money can keep shady transactions secret.

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#Blockchain

Forbes releases top 50 blockchain companies list

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Forbes has released top 50 blockchain companies using blockchain technology list and these are almost all household names of the world's largest companies.

Forbes has released a new top 50 blockchain companies using blockchain technology list and these are almost all household names of the world’s largest companies. In fact, they are all billion dollar plus companies such as Amazon, Citi Group, Foxconn, Comcast and a whole host of others and unsurprisingly the bulk majority of these companies are using Ethereum.

 

Although, outside of Ethereum which is, of course, the number 1 blockchain for these companies, we do see others like Hyperledger and Quorum for example, although much rarer on the list in terms of mentions are blockchains such as Stellar Lumens or Cardano. Blockchains such as TRON, EOS, NEM, and others are not mentioned in the list of top 50 companies.

 

Companies choosing Ethereum according to Forbes:

Big businesses really like what Ethereum is doing. Ethereum has also worked very hard to make these relationships happen over the last few years and those relationships are now paying dividends big time.

 

All the top 10 companies are located in China or the United States.

The Top 10 (Forbes List):

10. Ping An Insurance Company: China

9. Bank of China: China

8. Apple: United States

7. Wells Fargo & Company: United States

6. Bank of America: United States

5. Agricultural Bank of China: China

4. Berkshire Hathaway Inc: United States

3. JPMorgan Chase & Co: United States

2. China Construction Bank Corporation: China

1. Industrial and Commercial Bank of China: China

 

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#Blockchain

JPMorgan expanding itself into the blockchain and crypto space

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JPMorgan Chase has been posting a lot of job opportunities in the blockchain and cryptocurrency industry on Indeed.com, the job listing portal.

JPMorgan Chase, the American multinational investment bank and financial services company has been posting a lot of job opportunities in the blockchain and cryptocurrency industry on Indeed.com, a job listing site. According to the data from Indeed.com, the overall job openings for the cryptocurrency industry also seems to be on a rise.

 

JPMorgan Entering the Cryptocurrency Space:

Though the CEO of JPMorgan, Jamie Dimon has always been a strong opponent of Bitcoin and other cryptocurrencies, his company has been interestingly expanding its operations in the field of blockchain and cryptocurrency.

 

Last month, JPMorgan launched its own cryptocurrency known as the JPM Coin, which will serve the bank’s precious customers in order to make transactions between them more swift and steady.

 

Back in 2018, JPMorgan had launched a blockchain powered platform known as Quorum which might be seen quite homogeneous to bitcoin and ethereum, however, it is almost fully centralized in nature.

 

Large companies entering the Blockchain Space:

In recent times, a lot of huge companies worldwide have been entering into the blockchain and cryptocurrency space. According to a recent publication by the Forbes, large organizations such as IBM, Deloitte, Cisco, Microsoft, Consensus, and others have been curiously hiring employees that are experts in the field of blockchain technology.

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