Author Topic: Differences between Ethereum and BTS the super DAC  (Read 884 times)

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Offline coolspeed

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Differences between Ethereum and BTS the super DAC
« on: February 22, 2015, 08:08:24 am »
1. In BTS, the program is not data. The program is program itself and versioned and achieved consensus by the community (delegate group) by the wallet version number. On the other hand, in ethereum the programs are data and not globally versioned and consensus achieved. Instead, every transaction (including every shorts, bettings) is data and distributed through the blockchain.

One of the challenges is the program size. Does any one know whether what is recorded on chain is the program itself, or just the program's pointer at programs pool and the program version?

Another problem of ethereum's approach is that the over fragmented programs, or say program versions. Every smart contract may have different input and output definition. Whether such a program hell suitable for DAC / DAO remains to be observed.

2. If the scripting ability added to BTS in later version, then it becomes somehow like redis. Redis does not support scripting by design, but when it's given scripting ability through the lua language, there was no un-compatibility. So I guess when we get the scripting ability in similar way, there won't be any problem.

Except for the language simplicity. Ethereum VM (also known ad EVM) supports only a few instructions (In fact much less than the Java Virtual Machine).

And (probably) emerging so called industry scripting language standard. No one really know whether ethereum will get the language networking effect. If so, the obvious answer to BTS is to fork ethereum VM into BTS just like Counterparty did, rather than implementing scripting ourselves.

3. bytemaster would say blockchain data structre. Bytemaster once claimed that ethereum lacks many of the high level data structures blockchain applications need. To my knowledge BTS has a plan to implement universal graph database (data structure), and anyone know how is the progress?

Conclusion:

Like I often say, ethereum is like FPGA while BTS is like ASIC. Both are useful, strong and needed by the industry.

Even though the Bitshares official(?) site - bitshares.org says:

BitShares - The Decentralized Exchange

We would expect BTS to become a super DAC that does not lack the ability of what ethereum claims, thus super DAC. Bytemaster once said that he does not   like ethereum's way that much. As to my following, not enough comments on this are given, except for crypto product's ease of use perspective. I guess he means the way so called "DApps" are distributed. I guess he imagines something like Apple AppStore in his mind.

I hope to hear bytemaster's opinion on this. And of course any thoughts are much appreciated.

References:

1. I Asked Vitalik Buterin Which Networks Will Prevail After The “Blockchain Wars”, This Is What He Answered.
http://www.naation.com/2015/02/06/i-asked-vitalik-buterin-which-networks-will-prevail-after-the-blockchain-wars-this-is-what-he-answered-2/5776/

« Last Edit: February 22, 2015, 08:23:03 am by coolspeed »
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