If you develop a decentralized application (Dapp) and look for a way to cut costs, a ready-to-use blockchain environment is the most attractive option. In this post, we'll compare two of such environments, EOS and genEOS.
To Use or Not to Use
If you think that you need a your own blockchain, make sure your budget allows you to develop one since it can come at quite a cost. If it doesn’t, it’s possible to use a third-party blockchain instead, provided within a decentralized ecosystem like genEOS or EOS. The key advantage here is the cost-efficiency .
The key disadvantage here is that all built-in features can’t be changed. You will have to use an entire environment with its pros and cons, if any. For example, you can’t adopt the Proof-of-Work concept if the platform features Proof-of-Stake.
The Matchup
Let’s compare EOS and genEOS against such criteria as positioning, crowdsale, governance model, and their technical stuffing.
General vs Business-Focused Positioning
What’s similar? They both facilitate Dapp developers’ tasks with a pre-built blockchain.
What’s different?
EOS provides only a blockchain, and that’s it. Any extra functionality needs to be created by Dapp developers separately.
Targeting businesses, genEOS plans to launch a specialized toolkit to ease the development process. If these tools appear unsuitable, it will still be possible to develop your own.
The outcome. The business-focused genEOS is going to make the development process cheaper by offering its pre-designed tools. Any development apart from that would require higher budgets, though.
Limited ICO Audiences vs Everyone
What’s similar? EOS and genEOS both feature crowdsale functionality, supporting token distribution.
What’s different?
EOS couldn't ensure legitimacy for all ICO participants. For example, Chinese and Americans couldn't participate in the ICO.
genEOS guarantees legitimacy for all crowdsale participants regardless of their nationality (KYC is required).
The outcome. Planning to start an ICO for you Dapp, don’t forget about its legal status for people from the different countries. Unlike EOS, genEOS makes ICOs legal for investors from all over the world.
Monopolized vs Shared Governance
What’s similar? Transaction approvals require confirmation from 21 witnesses on both platforms.
What’s different?
EOS. The choice of these 21 witnesses is made in the following order. After candidates apply, 21 witnesses are selected among them randomly. But despite the selection process appears to be random, EOS is much more monopolized than it seems. This is because 75% of the ecosystem is owned by 100 EOS-holders.
genEOS will be selecting 21 witnesses using its accelerating voting system. This will eliminate the risk to monopolize the genEOS blockchain.
The outcome. EOS can’t guarantee that a blockchain governance will be shared, while genEOS can.
No Extras vs a Toolkit
What’s similar? Both platforms use the C/C++ programming language. Other programming languages are expected to come shortly.
What’s different?
EOS aims to engage its community of developers. No out-of-the-box tools are delivered. At the same time, the platform allows developers to upload their decentralized software for public use. The flip side of this is that the platform doesn’t guarantee such applications are error-free.
genEOS plans to deliver a ready-to-use web toolkit along with its blockchain as such. As an example of these tools in action, a genEOS crypto wallet app will hit the market soon. These official tools are developed and maintained by the platform’s original team, so genEOS guarantees that they’re bug-free. On the other hand, being pre-designed, these tools can’t be changed.
3 Steps for Choosing a Blockchain Platform
Step 1. Get to know all the characteristics of different blockchain ecosystems.
Step 2. Check what platform meets your requirements. If none, make sure you have enough resources for blockchain development from the ground up. If your budget is limited, stick to a ready-to-use blockchain environment.
Step 3. If your choice fell on a particular blockchain platform, make sure its features correspond to your vision.
Conclusion. genEOS and EOS both supply developers with a blockchain that uses the Proof-of-Stake consensus. Both allow developing Dapps in C/C++. But the difference between the platforms is in their positioning and features, which make genEOS more cost-efficient when it comes to business-specific Dapps.
The outcome. Adopting the ready-made tools by genEOS is cheaper than their development from scratch. However, if the tool parameters don’t appeal to you, you’re welcome to develop your own. Both platforms allow doing this.
Will GenEOS give an airdrop for its project pretty soon?
We are not planning an airdrop. But you are welcome to join our crowdsale and project.
You should do something for the people who funded the EOS development, why would current EOS stakers support your project?
Thanks for the question.
The genEOS mission is to remove blockchain adoption barriers faced by the business community by creating a powerful, fast, and secure decentralized ecosystem that lets businesses design and deploy their own Dapps.
Our team will be optimizing the interface and the features on offer in the operating system based on users’ feedback.
In Q3 2018, for example, we will be releasing an official wallet and dev toolkit. The roadmap is available here: https://geneos.io/
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