Which one, Ethereum or Solana, is more like EOS back then?

Source: Vernacular Blockchain

The crypto community has always had many branches of different projects, from the earliest Bitcoin hard fork, LTC, Doge and other "copycats", and later Ethereum, EOS, Solana and other well-known factions were born one after another. They represent the similarities and differences in concepts and directions. There is cooperation in their respective ecosystems, and more communities attack each other because of different views.

Since Solana performed well in this round, while Ethereum's performance was relatively unsatisfactory, people in the Solana community said that ETH was like EOS back then, while people in the Ethereum community countered that SOL was EOS. When a project is considered to be like EOS, it means that it is considered to face an unfavorable prospect or enter a "bottomless abyss". So in the end, which one is more like EOS, ETH or SOL? Today we will take a look at it from multiple angles... 01 Technical route and design concept Ethereum, Solana and EOS as the underlying public chains, the most important goal of their technical solutions is to break the "impossible triangle" of blockchain and become a safe, reliable, high-performance and highly scalable infrastructure. In terms of expansion plan, Ethereum chose to transition from the POW consensus mechanism to a special POS consensus mechanism and plans to increase network throughput through sharding in the future. Later, it is tentatively planned to switch to an expansion plan centered on the layering of Rollup Layer2 for expansion, and some progress has been made. Compared with Ethereum, Solana uses "Proof of History" more radically to achieve faster transaction confirmation. This consensus mechanism achieves high performance and can handle a large number of transactions. Similarly, EOS was also a high-performance blockchain at that time, and achieved extremely high throughput through the DPoS (delegated proof of stake) consensus mechanism.

In terms of technical routes, Solana and EOS are more similar. Both of them sacrificed some decentralization while aggressively pursuing extreme performance, exposing some node concentration problems.However, the difference is that although Solana has experienced several unstable downtime experiences, it is gradually being optimized and upgraded. The Ethereum solution is considered more conservative. In order not to sacrifice decentralization, it chose a difficult and complex path.

02 Sustainability

"A journey of a thousand miles tests a horse's strength, and a long time reveals a person's heart." In the ever-changing crypto field, "survival" may be the most valuable quality of a project. Many times, innovation also means taking an unconventional path and facing more risks and challenges.

From a historical perspective, Ethereum has withstood the challenge and test of "time", second only to the crypto asset leader "Bitcoin". Currently, Ethereum still maintains the largest development community and active ecology, and has a moat of real-world applications such as DeFi. Continuous innovation and ecological construction have made it firmly sit in the "second place" position of crypto assets.

EOS does not seem to have withstood the test of time. EOS and its ecology had a period of glory, but then exposed some sustainability deficiencies and eventually became unable to recover. Whether it can "come back" in the future is still unknown.

Solana, which has a shorter history than EOS, has also experienced the adverse effects of the collapse of its main supporters SBF and FTX, as well as frequent downtime and attacks. It can be said to have been through a lot, but it has also exposed some stability and security issues, and its sustainability is facing a test.

Perhaps based on the experience of EOS's relative "failure", the Ethereum and Solana communities will carefully consider the issue of sustainability.

03 Community support and institutional support

The development of crypto projects is inseparable from the continuous support of the community, and of course there is also the shadow of institutional capital behind it. Ecological prosperity is inseparable from the community, and the capital brought by institutions accelerates its progress.

EOS actually had a broad community consensus in the early stage of its launch, and also received a lot of capital and institutional support. Its development company Block.one also invested a lot of money and manpower. However, perhaps due to the pressure brought by the US SEC supervision, Block.one, as the project party, could not directly participate in the launch of the main network and the operation of the project. After settling the lawsuit with the US SEC, it chose to lie down with the huge wealth in its hands, which was equivalent to throwing the project to the community.

Due to the influence of governance model and centralization issues, the community consensus of EOS gradually weakened, and the confidence of super nodes and developers gradually lost, and finally this result we saw.

Compared to EOS, Solana has received relatively more support from Wall Street elites and capital. The good trend seems to have gathered a strong community consensus in the short term. The leadership of its project team is also very active in the community. In addition, the loose state of US crypto regulation after Trump took office, the Solana team will not have similar pressure. On the contrary, because of the popularity of concepts such as Meme and the "identity" of Made in USA, it has received continuous capital support.

Ethereum needs no further explanation in terms of community and institutional support. As the second largest crypto asset and the only two US stock spot ETFs, its ecological maturity and liquidity are far ahead. Coupled with the project's sustainability advantages, its long-term appeal is expected to increase.

04 Summary

Although we have analyzed the similarities and differences between Ethereum, Solana, and EOS from multiple important perspectives, on the surface Solana is more like the radical EOS, while Ethereum is more stable, but the "time", "place" and "people" conditions of the three are different. Perhaps no one is like the other, and each will face different tests and challenges and its own unique path.

Everything will be proven by time. Under more friendly regulatory conditions, perhaps Ethereum, Solana and other crypto projects will have a bright future.