Author Topic: BitShares vs Ethereum  (Read 19145 times)

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Offline xeroc

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here is a good comparison  video for BitShares vs Ethereum
I am finally taking a look at that one .. thx

Offline sfinder

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Offline toast

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Our technical team has evaluated the Ethereum proposal and design and have concluded the following:

1) Mining means the DAC will be operating at a loss or break-even at best.  No dividends.
2) Scripts will require more blockchain space and bandwidth resulting in lower transaction volume for the same level of decentralization.
3) We do not believe the scripts can efficiently implement a BitShares like market matching with automatic margin calls at scale. 
4) Merged mining would be required to secure parallel chains... this has its own challenges.
5) Mining will result in centralization one block at a time, something very bad for chains that implement markets.
6) Finding GPU developers is hard enough, defining a new dedicated language for this purpose will be even harder.
7) If you eliminate mining, then the cost of launching a new DAC is near 0 and you can simply use C++ to encode your contracts starting from a 'shell DAC' and launch without having to overload everyone not interested in your contract. 
8) NO 'competitor' thus far is willing to admit that multiple parallel blockchains will be required to handle the order of magnitude greater transaction volume an exchange experiences vs Bitcoin and this is for a SINGLE currency pair.  Imagine attempting to have every tradable market on one chain!   This will rapidly be centralized into trusted supernodes that can handle the bandwidth requirements.
9) You think bitcoin verification times have trouble scaling, imagine executing an interpreted language!

Conclusion: We believe Ethereum is an interesting computer science project with little compelling advantage in developing new DACs and many drawbacks.   

We wish them well and if their scripting language and contract design proves useful as a means for very special purpose contracts then we suspect we will be able to adapt it to a more efficient, profitable, AGS honoring DAC.
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Offline oco101

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« Last Edit: February 04, 2014, 06:50:28 pm by oco101 »


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Thoughts on Ethereum?

...will it catch on and when?

...and if/when/how to invest in it?