A Response to Last Week’s EOS Analysis
TL;DR: the numbers they claim are just plain wrong
Last week an EOS takedown was released that made many bold claims against the EOS platform’s technical robustness and performance, claims which were quickly summarized and shared across social media and blog posts.
As I will highlight below, the one major claim that can objectively be proved true or false is (very) false, and thus casts a strong doubt over the credibility of the subjective claims within.
First though, an important note: what that report and subsequent PR blitz failed to make clear was that the analysis was funded by and co-written by the technology arm of a competing blockchain app platform, Ethereum’s Consensys organization.
A competitor’s critique and debate is, of course, welcome, if the critique is given honestly in good faith. This was not.
I would expect a good faith analysis by a competing organization to sign their name or at minimum include a disclaimer. They did not.
Misleading, bad faith PR is bad for the entire ecosystem, and we as the broad blockchain community can help if we call it out when we see it.
My disclaimer: I’m an EOS ecosystem advocate and token holder, I work with the EOS Alliance, and I’m a big believer in the vision of EOS to bring blockchain dapps mainstream by providing a safe, secure, and speedy business-friendly public blockchain and by enabling a seamless user experience to match the best of today’s web applications.
Disclaimer 2: I also think Ethereum is a great platform, am excited for Ethereum 2.0, hold ETH tokens, and I believe there is room for different platforms to have different strengths and both to grow independently while growing the entire blockchain ecosystem together.
Objectively, Clearly and Provably False
Many sensational claims were made that are subjective, such as “EOS is not a Blockchain.” While those claims are definitely misleading and imo false, the arguments are nuanced and open to interpretation. (For instance, it would depend on your definition of the non-specific technical term Blockchain.)
The article’s clear credibility gap is much easier to identify by through its objective claims.
Let’s focus on the biggest objective conclusion of the paper: that EOS is slow.
In it’s final conclusion, the paper claims in no uncertain terms that EOS has a max transaction throughput of 250 tx/s and in “real world conditions” would be limited to under 50 tx/s. The paper then takes this opportunity to claim that under 50 tx/s makes EOS close to Ethereum’s performance (of 15 tx/s).
Section B (images above) of their conclusion states:
“As observed in the section on performance, the transaction throughput in the system does not exceed 250 TPS even in optimal settings with 0 ms of latency and 0% packet loss. During tests with real world conditions of 50 ms of round trip latency and 0.01% packet loss, performance dropped below 50 TPS putting the system in close proximity to the performance that exists in Ethereum.”
That is just plain wrong.
The live EOS production blockchain has successfully processed peak transaction throughput at almost 4000 tx/s.
(I don’t spend much time focusing on comparing EOS to other blockchain platforms, but since it was brought up in the paper as “in close proximity” I will point out that EOS’s performance 4 months after launch is over 250 times Ethereum’s.)
IMHO, the analysis loses any remaining credibility when the conclusions presented as best case in “real world conditions” are two orders of magnitude below the reality in real world conditions, and when it is also so clearly framed in a way to make the blockchain platform which funded the research look favorable.
If the objective claims are so clearly wrong, then I feel safe to ignore the more subjective claims like “EOS is not a blockchain” and get back to work.
I hope that at least a small percentage of the companies who printed the negative headlines will note the “inconsistencies” as well.
FWIW, I know the majority of the EOS community wishes the Ethereum community the best, and I believe that both communities can work together to create inspiring stories on how blockchain is doing good in the world and facilitating the our social evolution for the better.
If you’re new to EOS and you want to experience the EOS blockchain yourself, I suggest you download the EOS Lynx wallet on desktop or mobile, send yourself some tokens, and play a game of EOS Bet dice through their integrated dapp browser.
You’ll quickly see why I believe in EOS dapps.
You can find me on telegram @dannymaximo and twitter @danlevine