EOS vs. XinFin: Reviewing Two of the Most Scalable Blockchain

Blockchain catalyzed the race to innovate every industry. More innovators, more companies, more investors, and more countries are swarming in to find out how blockchain can be best implemented to leverage the potential of the businesses and technology we deal with today. Every time we think that we’ve seen the best that can be done with the blockchain technology there comes up someone or some startup presenting a completely unique concept to what has already been created. The unwavering efforts of the industry stakeholders have resulted in skyrocketing growth. And tons of different blockchains.

Of all those, today, we’re discussing EOS and XinFin blockchain and comparing how they stand against each other in terms of their major features.

The first point indicates EOS & Second point indicates XinFin

EOS

Mostly known for its year-long ICO that raised $4 billion and made it the highest grossing ICO, the EOS blockchain is a smart contract decentralized applications platform that boasts of high scalability. It is often dubbed the “Ethereum Killer” because many believe that it serves the exact purpose as Ethereum but with more efficiency and scalability. It uses the Delegated Proof-of-Stake consensus mechanism and forsakes decentralization to pump up its scalability.

XinFin Network [XDC]

With its prime focus on how enterprises view and use blockchain, XinFin Network calls itself the “enterprise-ready hybrid blockchain,” and it is aligned towards disrupting global trade and finance. XinFin too harnesses the potential of deploying smart contracts and uses its exclusive XinFin Delegated Proof-of-Stake consensus mechanism. The fact that makes it worth the attention is that it strings together security, scalability, and decentralization; something that is rarely found in any of the blockchains.

For a better understanding, let’s compare different features of the two blockchains side by side.

Coin Price and Market Capital values are as per CoinMarketCap value on May 27, 2019

Consensus Mechanism

As was already introduced, the EOS blockchain uses the DPoS protocol to reach consensus while the XinFin network functions over the XinFin DPoS protocol. So, how do they differ?

EOS’s DPoS protocol calls for the election of a set of 21 delegates who are responsible for the creation of each block. Also known as Block Producers, they have the authority to change the protocol, account access, and the constitution of the blockchain itself if 15 of the 21 of them agree on a proposal. This makes the EOS blockchain highly centralized and makes it stand on the extreme opposite of the concept of distributed authority, which is the base for blockchain.

Contrary to that, XinFIn created its own XinFin DPoS protocol that keeps the underlying concept of decentralization intact with their hybrid blockchain. It maintains democracy by ensuring that anyone is able to become a validator node and prevents rendering too much authority to a countable few nodes. The only condition remains that the validator node must hold 10 million XDC tokens.

Both EOS and XinFin blockchains are equally environment-friendly given that their DPoS consensus does not require a tremendous amount of computational power like that in Proof-or-Work used in Bitcoin and Ethereum.

Scalability

There exists a trilemma that the blockchains are faced with today. This makes any blockchain simultaneously achieve any two of the three main qualities of blockchain: scalability, decentralization, and security.

For EOS, it’s pretty evident that they parted with decentralization to make up for high scalability, resulting in a high transaction speed of almost 4,000 transactions per second.

XinFin, however, seems to have struck a balance between the three of these properties. Though it is not as decentralized as Bitcoin and Ethereum, it maintains a far stronger decentralized mechanism as compared to the EOS blockchain without sparing on the scalability of the blockchain. It has tested a maximum transaction speed of 3,000 transactions per second, which despite being lower than the EOS blockchain is more valuable because of the decentralization that comes tagged with it.

Target Market

The EOS blockchain is a smart contract DApp platform that is currently mostly focusing on disrupting the gaming industry while XinFin is working on disrupting the trade and finance industry with its hybrid blockchain. This makes EOS and XinFin stand quite far apart in terms of use cases.

To suit the needs of enterprises, XinFin even has a KYC compliance feature that enforces all nodes to be KYC verified before becoming a part of the XinFin Network.

Market Valuation

The Market capitalization of EOS, per CoinMarketCap data on May 27, 2019, is $6.5 billion, while the per EOS price rests at $6.95.

XinFin Network currently has a market capitalization of $1.8 million with each XDC token priced at $0.000564.

Conclusion

If you are an enterprise looking for a blockchain that can cater to your need of privacy while also allowing you to keep a public record of a certain part of your data, XinFin Network can be the go-to blockchain for it. As we said, neither of the three major features of a blockchain has been overlooked to leverage the other in the case of XinFin, which makes it quite a worthy opponent to the other enterprise blockchains, and clearly gives it a commendable lead over EOS for enterprise applications.

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