Ethereum is the second most valuable digital currency in the world with a market cap of $51.84 billion. The value of the digital currency is $517 and its trading volume in the last twenty-four hours is $1.52 billion.
On the other hand, EOS is the fifth most valuable digital currency with a market cap of $9.60 billion and a trading volume of $694.10 million at the time of writing.
Both digital currencies have seen a drastic decline in value since the spike that happened in December 2017 and early part of January this year. Nevertheless, EOS has shown the ability to shake off bearish pressure and defy the trend of the market to recover lost gains more than Ethereum.
EOS is one of the few coins that have broken the record of their all-time high in January and set new records. On the other hand, Ethereum has lost more than sixty percent of its value from its all-time high earlier this year.
The Platform of EOS
The EOS platform has been designed to introduce a new ecosystem for Dapps (decentralized apps). It is aimed at having a more stable ecosystem, and a lot of people compare it to Ethereum in some ways. Besides offering solutions to a lot of blockchain related issues, the network uses a Proof of Stake consensus algorithm.
EOS isn’t the only rivalry Ethereum has, as there are a lot of entities that surfaced in the market. Some are proving to be better than Ethereum while others are solving problems Ethereum failed to address.
Can Ethereum Survive the Entrance of EOS?
A lot of experts in the industry have predicted EOS to be the Ethereum “killer.” Well, the competition is now set as the Mainnet of EOS is finally live. Nevertheless, Ethereum is the king of Dapps offering flexible, simple, and easy solutions when launching tokens.
Ethereum is not done yet as it is thriving to become more scalable, and it plans on switching to Proof of State protocol. Whether EOS will outdo Ethereum or not is one of those questions only “time can tell.”