EOS and

EOS and Ethereum have been considered controversial topics by many people. 

Ethereum wants to decentralize the computing of the world. In the meanwhile, EOS’s aim is to operate speedy decentralized applications (dApps). Therefore, each protocol uses a dissimilar consensus algorithm and a different governance model.

Eventually, both projects have their advantages and according to their purposes.

First, let’s study the basics.

What is Ethereum (ETH)? 

Ethereum is a decentralized smart contract platform. The Ethereum network has a token (ETH), a blockchain, nodes, and miners. Additionally, the blockchain continues consensus for a ‘virtual computer’ dubbed the Ethereum Virtual Machine (EVM). As a result,  smart contracts given out can be created and deployed on the EVM.

ETH is the native token on the Ethereum network with the current inflation rate of 10% a year. 

ETH tokens can be used not only for payments like Bitcoin but also for powering smart contracts. In addition, when running a smart contract, the fee will be turned into ‘gas’ to then power a smart contract on the EVM. This concept is in the same way as gasoline you put in your car. Also, the amount of “gas” will be different as a different amount of gas depending on how long your journey is

What is EOS?

EOS.IO is a blockchain architecture created to allow vertical and horizontal scaling of Dapps through an operating system-like construct upon which applications can be built.

In detail, the system offers accounts, authentication, databases, asynchronous communication, and the plan of applications across many CPU cores or clusters.

This blockchain architecture has turned out to eliminate user fees and be available for fast and easy deployment and maintenance of Dapps.

EOS.IO operates as both a base-layer blockchain and as a smart contract platform. The chosen consensus algorithm is based on DPoS, or Delegated Proof-of-Stake, meaning those who hold tokens on the platform may select block producers through a continuous approval voting system.

Anyone may choose to participate in block production and will be given an opportunity to produce blocks, provided they can persuade token holders to vote for them.

Consensus Mechanism

Ethereum is a proof-of-work model, and EOS is a delegated proof-of-stake model. Hence, in the Ethereum network, each node has to solve a cryptographic puzzle in order to confirm a transaction on the blockchain itself.

While in EOS, 21 nodes are in charge of producing these new blocks, which guarantees stability and network performance. Fortunately, users do not have to await transaction confirmation from every node and consensus from all the nodes. 

Ethereum Performance Over the Years

When it was initially launched back in 2015, Ethereum started with a value of $2.77 per coin. Over its first three days of trading, the price dropped to $0.68. In March of 2016, the price hit its first high of $15 per coin. On May 6th of 2017 after the ICO boom, the price of ETH hit a new high of $95 per coin. By September 18th of that year, ETH reached $800. When 2018 came, on January 13th, Ethereum became quite successful with its all-time high of $1.400.

The current value of ETH is $2,057.29

EOS Performance Over the Years

When it was initially launched back in 2017, its price was $2.29. It doubled within the first day at $5.40. While this was impressive at first, the coin started falling in value and found its bottom line at only $0.59. It only got higher in value when the crypto-boom happened and on January 13th of 2018, its value rose to $16.39. In May of 2018, the EOS price jumped to $22.89. However, that being said, nowadays the value is stable between $2 and $2.8. This is due to the fact that it dropped to its bottom of $1.86 on December 7th of 2018, and progression from that point onward has been slow.

The current value of EOS is $3.56.

EOS vs Ethereum: What does the Future Hold?

It is undeniable that both projects have performed well in the cryptocurrency market. Namely, Ethereum is the second most popular cryptocurrency in the world, just behind Bitcoin. In addition, hundreds of cryptocurrency tokens have been developed in the Ethereum blockchain. 

In terms of EOS, the project accelerated more than $2.5 billion during its one-year ICO.

This is very impressive for a new project 

On the other hand, EOS has not achieved anything the same as what Ethereum has done. Accordingly, if EOS can reach its goals, it can be a significantly better blockchain than Ethereum.

If EOS can attain immediate, free millions of transactions per second, it will be very hard for Ethereum to catch up with that level of performance. Nevertheless, if Ethereum can carry out ‘Proof of Stake’, ‘Sharding’ and ‘Plasma’ successfully, it will be tricky for Ethereum alternatives to defeat Ethereum.

Consequently, please note that the cryptocurrency market is unpredictable, fastest-changing. All you can do is check for regular updates on both of the blockchains’ development progress!

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What is Fantom?

Fantom is an open-source smart contract blockchain that uses distributed ledger technology. 

The purpose of the development team when creating Fantom is to establish a new generation platform that is based on Directed Acrylic Graph (DAG) technology.

Furthermore, Developers are able to deploy their own networks within the Fantom ecosystem, as opposed to all computing power being navigated on a single distributed ledger. Additionally, it allows the construction of dApps that improve the network scaling problems faced by current blockchain platforms.

Basically, Fantom adopts a DAG structure (not a Blockchain), but a similar distributed ledger.

What is Fantom (FTM)?

The FTM token exists as the native Fantom FTM token, Ethereum’s ERC-20 token standard, or the Binance BEP-2 token standard

What makes Fantom worthy?

Fantom brings several advantages to users compared to competing blockchains.

Speed – The average transaction time is nearly one second.

Cost – The expense of placing a transaction on Fantom is minuscule (averaging about $0.0000001 per transaction).

Security – Fantom’s validator nodes secure the network in a leaderless, decentralized, and trustless way by means of The Proof-of-Stake network.

EVM-Compatible – Fantom is EVM (Ethereum Virtual Machine) compatible. Accordingly, this means those who have created decentralized applications (dApps) on Ethereum can deploy and operate their applications on Fantom with zero friction.

Fantom Opera Chain 

Opera is completely open-source and permissionless. Accordingly, this means any developer can build Dapps utilizing the Opera environment with fast transaction finality and flexibility. Furthermore, the Fantom Opera provides full smart contract support through Ethereum’s programming language, Solidity. Being powered by the novel Lachesis aBFT consensus mechanism, Opera is able to host real-world applications with minimal risk of network congestion or high gas fees.

It is able to handle asynchronous events that miners cannot do. Apparently, dApps will benefit from low transaction costs and near-instant transaction times.

Fantom Consensus: Lachesis

With every blockchain, a consensus mechanism is available for the network to reach a mutual agreement and understanding of each transaction’s validity and confirmation.

Fantom has introduced a novel consensus algorithm referred to as ‘Lachesis’, or an aBFT (asynchronous Byzantine Fault-Tolerant) consensus mechanism. When compared to the Proof-of-Work (PoW) mechanism, aBFT offers faster transactions (just one to two seconds). Also, it reduces the vulnerability of attacks by 51%. Additionally, aBFT is scalable and secure, offering developers the chance to build peer-to-peer applications without the need to build a networking layer.

The Lachesis protocol maintains consensus in the network.

Story Data

The information that has taken place is managed independently in Story Data. Transactions and Smart Contracts are stored for tracking and management in the chain.

Based on the advantages of technology in its Blockchain Fantom. The dev team hopes to be able to apply it to many areas of life: Smart Cities, Public Utilities, Smart living, Heath care, Education, Traffic Management, Resource Management, Environmental Sustainability.

Fantom Staking

There are different ways to join staking. In turn, there are three roles you can play within the Fantom network, where you can earn a passive income with your FTM tokens.

Validators

There is a minimum requirement of 3,175,000 FTM to become a validator node. Especially, validators receive rewarded according to each epoch with staking rewards and transaction fees from the network.

Delegators

If you would like to participate in validating the network without the responsibility of being a full validator node, you could opt to become a delegator. A delegator can contribute to the network minus the upfront financial cost of being a validator node. The minimum requirement of FTM tokens to be delegated to a validator is one FTM token. Validators will take a commission from delegators in exchange for their services, which is currently 15%. However, delegators will receive a percentage of transaction fees from their appointed validator.

Stakers

On the other hand, if you would like to earn a passive income with crypto with minimal effort or requirements, you can earn rewards by staking FTM tokens in the Fantom Wallet. Indeed, users receive rewards according to each epoch with a percentage of staking rewards variable dependent upon the amount one has staked. Besides, the website offers an online calculator to work out how much FTM token interest you could earn.

Should you invest in (FTM)

Fantom (FTM) is not the first project to integrate Directed Acrylic Graph (DAG) technology.

Before that, we had IOTA, Nano, Byteball, and Hedero Hashgraph… Each project has different Functions to make a difference.

Looking at Fantom’s website, we see that the dev team’s ambition is huge. They want to apply their Blockchain to almost all areas of life.

If they achieve this goal, surely the demand for owning FTM Token will increase, and increase the price of this token.

Some key points I noted so that you can monitor and make your own investment decisions:

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Is the concept “Blockchain in retail” necessary these days?

It is undeniable that Blockchain in retail nowadays provides a huge amount of chances and resolves several resistant issues. A more vigilant look is shown following 

When the pandemic comes, retailers have coped with several major issues such as supply chain, products sales, store expansions, and ensuring that all the customers and employees are staying safe.

Therefore, retail industries need to care about blockchain more seriously and begin to integrate it into their systems.

Here are principal issues that retail industries are confronting:

Keeping up with Consumer’s Expectations

The retail industry has to handle a lot of volatile elements including consumer expectations. Indeed, consumers seem to change their expectations quite speedily. As a result, the retail industry needs to be clever enough to grasp all this information. 

Weak Customer Loyalty Maintenance

In order to keep customers, you must have a good customer experience.  We all know that dealing with consumers is a challenging mission. Additionally, promotional offers or special discounts can be helpful, it’s still not enough since most of the time, retailers are not successful in delivering personalized provision.

State-of-the-art Technologies are not available

Many technologies are made dedicated for certain businesses and can bring additional advantages when used precisely. Nevertheless, the retailer companies are completely behind the time. 

In addition, some retail companies make wrong decisions to opt for the technology. Especially, this can lead to inefficiencies and waste of money. 

Lack of Modern Marketing Strategy

In reality, many retail companies only stick with social media marketing while there are various ways you can market your products to the customers. Moreover, retail companies sometimes market the products too much, which increases customer discontent.

Cyber Crime

The increasing number of cyber hacks is another congestion for retail companies. In fact, it’s virtually easy to hack into the servers and steal data which is important. Hence, this can quickly become a huge security breach leading to losing lots of revenue. More so, it leads these companies to lose consumers’ trust .

The benefits of applying Blockchain to the retail industry

Blockchain brings many benefits to retail industries. Many of them are exclusive and only feasible when the industry starts to use this technology.

Effective Inventory Management

Blockchain in retail is useful in making their inventories better organized. Moreover, money can also be saved since it can automate the process of product shortage or product surplus according to consumer demand in real-time.

Crypto as A Payment Method

It seems that cryptocurrencies are going to become the money of the future. From here, retail companies can take one more step to accept existing crypto as authorized payment for the products. Especially, this method actually helps them make payments using secured and digital money in a transparent way.

Better Customer Information Administration

Companies can adopt blockchain in the retail market to secure the data relevant to the customer. As a matter of fact, authentication processes in the system are provided and all the information in the immutable storage is stored. Therefore, no third party can breach the network and misuse that info.

Preventing Counterfeit Goods and Fraud

By means of blockchain technology, retailers can keep track of their goods from the manufacturers and ensure that they are obtaining authentic products from time to time. Consequently, counterfeit products can be well controlled

Offering Product Origins

With the help of blockchain, the companies can eventually offer provenance as the consumer can track or see the entire supply chain of a single product. This can boost customers’ trust and they can spend their money on an authentic product.

Reducing Cyber Hacks

When blockchain appears, the scenario can change drastically. Especially, blockchain can offer high-security protocols to fight cyber-attacks, no security breach from the third party will be viable anymore.

From Person to Merchant Transactions

It can be cool that Blockchain in a retail store can provide a person with merchants’ transactions. As expected, this helps both parties to benefit from the payment process because the customer doesn’t have to cough up added charges using other third-party financial services. 

Which Retail Companies are Using Blockchain Technology?

Blockchain in retail can make a big alternation to this sector. Despite this sector’s development, Blockchain technology still copes with a variety of issues causing problems later in the future.

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