EOS (EOS) has been taunted as the platform that will outcompete the likes of Ethereum. However, at the moment a number of factors seem to be denting this ambition. First, there is the issue of voting. The EOS voting process is a little bit too complicated for the average voter, who does not understand how to use command lines. This to a large extent delayed achievement of the 15% vote required to vote the main net launch. While the argument is that this voting process is supposed to increase security, its complexity might have far more negative effects than the supposed benefits that it gives to the platform. This puts EOS at a disadvantage when compared to platforms that have simpler voting processes such as Tron (TRX). Of course this could hamper its long-term value, and could see its position in the market decline over time. Most people value simplicity, and the fact that there are platforms that offer this better is a pointer to this direction.
Then there is the issue of the power of block producers. A few days ago, block producers decided to freeze several accounts that had been hacked. While this might come across as a positive move, it happened even before the constitution was ratified to give them such powers. This means that EOS might be adopting a system that is too centralized, and might put off investors looking for a decentralized Dapps platform. Then there is the issue that investors who just HODL and don’t actively participate in voting might lose their tokens in the future. This much power in the hands of the block producers might also put off Dapps developers, and drive them to Ethereum (ETH) and other platforms such as Tron (TRX) and Cardano (ADA).
In essence, EOS (EOS) might have a good platform, but in a highly competitive market place like the platforms blockchains marketplace, it might lose out due to its complexity. At this point, the whole idea of EOS dethroning Ethereum looks like a very far-fetched dream. Ethereum already has a huge market share, a growing number of developers, and it’s a truly decentralized.
For an investor looking for something futuristic, Tron (TRX) and Cardano (ADA) are better bets. Tron is aiming to be more than a smart contracts blockchain. It wants to lead the way in the decentralized internet. In a recent interview with Huobi talk, Justin Sun makes it clear that Tron aims to achieve this in its 8 year plan. On its part, Cardano (ADA) is still a work-in-progress, but it is slowly building based on all the issues that face mainstream platform blockchains today. Once the Cardano (ADA) team completes what it is working on, its value could shoot up significantly.
Ethereum too stands too rise significantly in value especially after they make implement technologies that will make it faster, and easier to scale. If it achieves these two, Ethereum has the potential to test $2000 in the future. That’s not to say that EOS (EOS) has no future in the platforms space. It has a strong community, and with the billions they have accumulated over time, they stand a chance to compete.