cryptocurrency

EOS vs ETH vs DOT. Which is the Best Blockchain Protocol?

Published

2 months ago

08/02/2021

Anietie

Today, blockchain technology is seen in almost every sector of an economy. Blockchain is the backbone technology of digital currencies.

One of the interesting aspects of blockchain is its decentralisation. Instead of being stored in any one single point, the blockchain system is entirely decentralised, which means that no central authority can’t advance its agenda and control the network. Decentralisation also translates into more security besides being a fair system of distribution.

There have been many blockchain protocols over the years such as Bitcoin, Ethereum, Polkadot, Algorand and so many others.

Ethereum

Ethereum was created specifically for smart contract execution, decentralized apps and autonomous organisations. Ethereum offers far more functionality than Bitcoin which makes it attractive to developers for a variety of reasons.

EOS

EOS is a programmable blockchain offering smart contract computation. Compared to Ethereum EOS introduces a different approach to solving some scalability and usability problems.

EOS introduces a different consensus algorithm called — Delegated Proof of Stake (DPoS).

With negligible transaction fees, EOS presents itself as one of the best blockchain protocols that exist.

Polkadot

Polkadot is a blockchain protocol designed to support multiple chains within a single network. It aims to overcome a problem in the current blockchain landscape: hundreds of blockchains exist in isolation and have little ability to communicate.

Different Polkadot parachains and applications can share information and functionality thanks to the project’s interoperable design and compatibility between chains.

With these many blockchain protocols and it’s different pros and cons, blockchain users may find it hard to determine which protocol is the best and which project is more likely to progress in the future.

Join Samuel Joseph (CEO of Lightblocks and Co-Founder of HaggleX) and Chimezie Chuta (Founder of Blockchain Nigeria User Group) as they debate on these three protocols and find out which of these three protocols is the best.