EOS, Cardano and Tezos are cryptocurrency’s big sleepers. The latter project has lain dormant since last summer while its legal troubles played out, while EOS and Cardano have been beavering away, but have yet to produce the goods. With signs that all three projects are now stirring into life, investors might finally see a return. The question is, which of these sleeping giants – if any – can lay a glove on Ethereum?
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Ethereum’s Party Poopers Are Late to the Party
Assessing the merits of EOS, Cardano, and Tezos is impossible without assessing the merits of Ethereum. Its shadow looms large over the three projects, each of which is inexorably linked with Ethereum, the direct competitor they’re trying to topple. Tezos is bidding to be a better governed Ethereum, EOS is trying to be a faster Ethereum, and Cardano actually is Ethereum – sort of. Project founder Charles Hoskinson was an Ethereum co-founder and close advisor to Ethereum Classic. Oh, and Hoskinson also helped found Bitshares with Dan Larimer, who is now at EOS, but the two have since fallen out. More on that later.
The problem all three cryptocurrency projects are trying to solve can be lazily dubbed The Ethereum Problem. In terms of dominance and market capitalization, Ethereum is the runaway leader in the smart contract space. The vast majority of ICOs launch on it, and thousands of smart contracts, dApps, APIs, and cloud-based systems are integrated with it. Four times as many ethereum transactions (600,000) were completed in the last 24 hours as its nearest competitor, bitcoin. These figures paint a far rosier picture of Ethereum than is accurate however.
The Problem
All of the big blockchains, whether denominated by market cap, usage, or brand recognition, have their problems. Ethereum’s include scalability (the number of transactions it can handle per second is pitifully low), security (smart contract bugs have caused the loss of hundreds of millions of dollars), scammy ICOs, over-centralization, and governance issues, exacerbated by some extremely contentious decisions that must be made. What should happen with the Parity millions that were lost for instance – should they be returned by changing the codebase, or left to languish? Such questions lead into murky legal territory, which has already led to the resignation of code editor Yoichi Hirai.
EOS, Cardano, and Tezos believe they can solve many of these problems, or better still, avoid making them in the first place, which is easy to say. Given that Tezos hasn’t even managed to govern itself, EOS seems more interested in amassing millions, and Cardano is so experimental that are devoid of a single transaction, they’ve got their work cut out. Devising impressive figures in the lab for throughput or advancing innovative governance models is all well and good, but the measure of these projects will come when they’re unleashed into the rough and tumble of the cryptoverse, a place where things frequently break and slow to a crawl.
Contender 1: EOS
EOS has existed as only an ERC20 token thus far, but the mainnet is almost ready to launch, and exchanges such as Binance recently news of the EOS token swap. The irony of Dan Larimer’s Ethereum slayer piggybacking off its mortal enemy for the first six months of its life has not been lost. Speed and safe smart contracts are EOS’ USPs, with blocks produced every three seconds. Project architect Dan Larimer is a big believer in Dan Larimer, and is confident that his delegated Proof of Stake algorithm can blow Ethereum out of the water – and Cardano too.
Hoskinson and Larimer have been sniping at each other for months. After Larimer delivered a takedown of the consensus algorithm for Cardano, Hoskinson : “[Larimer’s critique] can be summarized as evil Charles stole all my brilliant work and didn’t cite me. DPoS is better. Their math stuff validates me. Their stuff doesn’t work. Peer review is what I say it is. I’m a genius”. Miaow. Naturally, Dan Larimer is certain that EOS can smite Cardano, Ethereum, and any other smart contract platform that dares stand in its way.
Even if EOS can reach its reported speeds, the catch, as Store of Value blog , is that “it’s quite centralized and block producers need to run super high performance computers in order to meet EOS’s blockchain demands…There are significant centralization concerns with EOS. Block producers have tremendous power and the blockchain has weak mechanisms to replace any.”
Contender 2: Cardano
Due to the $1 billion+ it has raised, coupled with its grand promises, EOS is the biggest of the three projects, and even had a three-minute slot dedicated to it on John Oliver’s . The other two, Tezos and Cardano, are no slouches however, at least not if they can successfully launch and make good on their promises. Charles Hoskinson is widely regarded as a knowledgeable and passionate figure in the cryptocurrency space, and has earned praise for the blockchain research labs he’s set up in Athens and Edinburgh via Input Output Hong Kong (IOHK).
Cardano launched back in 2016, with most of the tokens going to Japanese investors, so less is heard, in the western hemisphere at least, from impatient token-holders clamoring for a release date. Many of its investors are holding heavy bags though, for like most cryptos, ADA, its native token, peaked in January, surpassing $1.20, but is now at a little over 20 cents. When the market turns, the projects with no MVP tend to get hit the hardest, and Cardano has felt the full effect of the slump. When it launches, its blockchain will support dApps, a governance model, and is aiming to strike a balance between privacy and regulation. Like EOS, Cardano, powered by its Ouroboros Proof of Stake algorithm, should be fast and scalable.
Contender 3: Tezos
EOS and Cardano haven’t been delayed as such: they’re just huge projects whose developers have been taking their sweet time. Tezos, on the other hand, would have launched months ago were it not for all the in-fighting and lawsuits. With Kathleen Breitman that the project will launch soon, there are hopes that Tezos might soon become known for its innovative governance system, as opposed to its ability to induce squabbling on a grand scale.
It’s been so long since anyone read the Tezos white paper that the particulars of what the project will offer have largely been forgotten. For the record, Tezos will – if it works – enable token-holders to dictate how the project is run and to play their part in improving it. It will have smart contracts, a delegated Proof of Stake algorithm, and a dual blockchain model. The governance system shares some similarities with Dash, while Michelson is its smart contract language which will allow for formal verification so developers can confirm their code is mathematically correct.
When Launch?
The Cardano beta is scheduled for Q1 of 2018 (so “soon”), though more advanced features won’t be introduced until next year, so it’s still very much a work in progress. The of EOS, named Dawn 3.0, is supposed to go live later in March, so also soon. Tezos has it will be ready to launch in 2-4 months, so could be ready as early as May. Barring any more legal or technical delays, all three projects should be live and in use by summer. If any of the trio can launch a crippling blow to Ethereum, it’s likely to be EOS, but it’s also the most complex project, and thus there’s the potential for more to go wrong.
It will probably take at least a year before Cardano is in a position to position itself as an Ethereum alternative, whereas EOS and Tezos should reach full strength sooner. If Ethereum manages to solve its own problems in the meantime, Cardano, EOS, and Tezos may find themselves chasing the incumbent before they can kill it.
Do you think EOS, Cardano, or Tezos can realistically challenge Ethereum? Let us know in the comments section below.
Images courtesy of Shutterstock, EOS, Tezos, and Cardano.
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New Revolutionary Cryptocurrency With Mobile Mining App Aims to Support GREEN Energy
Cred is a new state of the art universal cryptocurrency with its own mobile app that is dedicated to support green energy and solve the pesky issues posed by bitcoin.
Denver, CO. March 2018. A new unique cryptocurrency is all set to introduce a historic chapter in the digital currency space. For the first time, it will be not just about investment but “investment with a purpose.” Titled as “Cred” with CX as the ticker, the state of the art cryptocurrency has arrived with a mobile mining app with the futuristic mission to support GREEN energy.
The launch of Cred ushers in a new record in the cryptocurrency space by enabling the investors to invest not just to enhance their profile – but also to proactively contribute towards a greater good. The latest cryptocurrency is dedicated to support sustainable projects like solar and wind energy operations.
Cred is presently in its pre-ICO stage. The Pre-ICO price is: 200 Cred= 1 USD
The Credits Cryptocurrency and Platform App utilizes mobile mining technology. Users will have the facility to opt in or out as per their preferences while mining Cred. They can even choose the mining power such as “High”, “Medium” or “Low”. Moreover, the Credits App boasts of an intuitive interface to make sending, buying and receiving Cred easier than ever. Purchase and usage of Cred will support renewable energy & sustainable projects to support our planet Earth.
“I had been dealing with bitcoin since its inception. Then, suddenly, one day it occurred to me that although the cryptocurrency world is expanding at a fast pace- yet we still don’t have a ‘crypto with a purpose’. With global warming raising serious issues today, we urgently need something to save the world. Such ethos inspired me to come up with a cryptocurrency that can support green energy and make the world a better place to live in. Additionally, I wanted something that will be more comprehensible as well as quicker and fun to share. Thus, Cred was born.”, stated Luke Ingraham, certified blockchain expert and founder of Credits.Energy.
Speaking further, Luke stressed that Credits.Energy is developed to solve a number of problems we notice today with bitcoin:
· Slow speed- bitcoin transactions can take 15 minutes up to 1 hour
· Confusing operation- Users are confused on how to send & receive bitcoins and when someone loses out on his bitcoin wallet address, it’s gone forever
· High volatility- Extreme fluctuation of prices make bitcoin scary for new investors
· Cashing out in bitcoin is confusing and also time-consuming
Credits.Energy solves all these issues with its unique design and features:
· Cred comes with its own dedicated network servers that assure lightning fast transactions.
· Cred relieves its users from memorizing complicated wallet address. You can send to users directly through the App via email address.
· Cred is specifically designed to lessen volatility by investing in green energy and sustainable projects which earn residual income to stimulate the Cred ecosystem
· Cred ensures easy intuitive cash out shortly after the ICO.
“Cred uses a decentralized blockchain which enables participants to keep tab on their cred transactions- without the worries of centralized monitoring. Moreover, for additional safety, we use the cutting edge CryptoNight algorithm that is extra anonymous outside of our platform for optimum security.”
The new cryptocurrency has already developed its app for Android users and an Apple app is in the making. Windows and Mac wallets are on the radar as well.
Interested investors can purchase Cred with bitcoin, Ethereum and PayPal. For more information, please visit
Contact Email Address
team@credits.energy
Supporting Link
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WePower has teamed up with various energy industry actors and producers in Estonia to design a full cycle tokenized energy ecosystem, from industrial production to consumer consumption, on blockchain
Vilnius, Lithuania and Tallinn, Estonia, March 2018 — , the blockchain based green energy trading platform, announces today that it has completed a round of partnerships that will enable a full cycle blockchain-based energy trade across the country. This marks a significant step in showing both the importance and vitality of blockchain technology to energy sector on a meaningful scale. On February 1, 2018 WePower successful raised $40 million, making it one of the most demanded blockchain projects of the year.
Estonia has been at the forefront of digital innovation for a number of years now. In December, 2014, Estonia has launched its E-Residency program, which created an opportunity for anyone with an internet connection to gain access to company formation, banking, payment processing and other government services that were only available to its physical residents before. In 2016, it has completed the first nationwide rollout of Smart Metering systems and in this way brought their power grid fully into the digital world. More recently, Estonia has started driving towards crypto adoption with an intention to release its own coin estcoin and in this way attract an emerging crypto business community to use Estonian e-services.These activities have created a unique development environment for WePower to fully test a holistic energy trading ecosystem at a country wide scale.
WePower has made three strategic partnerships with energy companies in Estonia that will allow for the nationwide adoption of a blockchain based green trading ecosystem.These partnerships span the energy sector from production, through transmission and to consumption:
– An independent electricity and gas system operator in Estonia have signed an agreement to launch a pilot project to test the large scale tokenization of Energy data on the blockchain in Estonia. WePower will integrate its blockchain and smart contract powered green energy trading platform into Elering’s Estfeed data exchange platform. This will form a first of of the kind proof-of-concept system for Estonia, demonstrating nation-state scale tokenization of energy consumption and production data on the blockchain;
– WePower and 220Energia have signed a Memorandum of Understanding (MoU) to work together to explore using blockchain technologies for the cross-border sale of retail energy in Europe. Both companies will work on offering a new type of digital product to consumers. With the help of energy tokens consumers will be able to choose what type of energy to buy;
– The Estonian-based wind power technology company has signed a MoU with WePower to start working on a windmill installation financing model using WePower platform; test the existing Eleon windmill integration with the WePower platform in Estonia; and explore further partnership models and ways how to create custom plug in type windmills for the WePower platform.
These three partnerships will allow Estonia, with the help of WePower, to test blockchain technology’s ability to bridge different elements of its energy sector, from production to consumption, creating a whole new level of transparency and global capital flow opportunity into the green energy development. Elering will help connect energy production tokenization with the energy supply infrastructure; Eleon, will help WePower test energy tokenization on the energy production side; and 220 Energia, will help develop tailored retail energy solution and services needed to have the tokenized energy bought and traded.
WePower has chosen Estonia as the testing ground for a national blockchain based energy system, as the country already has the infrastructure for a fully integrated solution across the whole value chain. Estonia offers both proclivity to digital innovation, cryptocurrency and the values that blockchain brings, as well as key partners that are willing and ready to work with WePower.
“WePower has shown that green energy and sustainability are some of the most supported challenges by communities across the globe that blockchain can solve,” said Nikolaj Martyniuk, Co-Founder and CEO of WePower, “We are excited to implement our technology into Estonia’s smart power grids, as it is a perfect case for new energy system testing with findings applicable in Europe and beyond. Our partnerships there will help develop the world’s first nation wide tokenized energy system, a huge step in blockchain based green energy adoption.”
About
WePower is a blockchain-based green energy trading platform. It helps renewable energy producers to raise capital by issuing their own energy tokens. WePower connects energy buyers (end users and investors) directly with the green energy producers and creates an opportunity to purchase energy upfront at below market rates. Energy tokenization ensures liquidity and extends access to capital. WePower wants to help build an infrastructure to bridge renewable energy producers output and traditional energy grid operators thus making the grid a little greener.
