Bitcoin is “Centralized,” says EOS Founder Dan Larimer & Takes a Dig at Cardano’s Peer Reviewing
Dani Larimer, CTO at Block.One, the company behind the 4th largest cryptocurrency EOS yet again takes a swing at the flagship cryptocurrency Bitcoin and Cardano.
Charles Hoskinson, the founder of Cardano has constantly emphasized on Cardano’s deep research papers that further goes through peer to peer review. Recently, in an interview, he shared that they have written 40 papers, out of which more than 24 got through peer-to-peer review.
In response to this Larimer countered on Twitter that the free flow of ideas and adoption is what makes a peer review truly valuable that requires asking the right questions.
“True peer review is the free market for ideas and adoption, Said Larimer. “Everything else is appeal to authority and elitism. If you don’t ask the right questions no amount of papers and academic review will produce useful answers.”
He further stated that he has been continuously and still researching technology that achieves:
“censorship resistance and open entry without falling prey to rule by wealthy stakeholders or relying on voters.”
Bitcoin is Centralized, EOS Provides Practical Decentralization
Meanwhile, Larimer says EOS is the one that provides “practical decentralization for real-world cases.”
As for EOS’ roadmap, he goes rather poetic with there being “no roads to follow” when it comes to exploratory development but just the “unknown to discover.”
Larimer says EOSIO will “continue to lead the industry in scalability and ease of development,” and the team is exploring innovative solutions to improve the ease of developing multi-thread decentralized applications (Dapp) and the blockchain scalability.
As for Bitcoin, he says, “Bitcoin centralized due to economy of scale and has high barriers to entry for gaining right to determine which transactions go into a block.”
What would happen if everyone had equal ability to mine bitcoin with equal efficiency and commodity infrastructure requirements? What if mining #bitcoin could make it deflationary?
— Daniel Larimer (@bytemaster7) April 11, 2019
Meanwhile, EOS Gets 700,000 New Users
More than 700,000 user accounts from a freelancing website called Moonlighting that was launched in 2014 are moving onto the EOS blockchain. The company got a $5 million investment round led by the FinLab EOS VC fund, a joint venture of Block.One and FinLab AG.
“We have been exploring blockchain protocols since the end of 2017 and [have] chosen EOSIO due to its ability to scale transaction processing, maintain low transaction costs and enable ease of user account management,” said Jeff Tennery, CEO at Moonlighting.
Back in 2018, Block.One had raised an estimated $4 billion in a year-long ICO. These funds are used by the company to develop the EOSIO software on which the EOS blockchain runs. FinLab VC fund is similar to Block.One that invests in funders that support application that runs on the blockchain, such as in Galaxy Digital of Mike Novogratz.
While year till date, EOS is up 115 percent, at the time of writing, EOS has been trading at $5.43 down about 7 percent in the past 24-hours.