The long-anticipated launch of EOS Mainnet was delayed twice: first by more than 1/3 worldwide block producers casting negative votes, and later by the voting rate less than the required 15%. And less than 48 hours after going live, the EOS Mainnet even experienced a network freeze, according to media reports.
EOS is said to be the most expected blockchain project this year, due to its claimed high-performance technology that enables enterprises to quickly build and deploy blockchain-based applications.
However, EOS may not be the only promising projects that offer solid blockchain infrastructure solutions. An aggressive challenger has emerged – Nasdaq-listed cloud giant Xunlei went live its million-TPS ThunderChain two months ago. Recently the company released a distributed file system ThunderChain File System (TCFS). In addition to TCFS, Xunlei published three ThunderChain Request for Comment (TRC) standards. These initiatives allow the developers to fully integrate DApps including data storage, data right confirmation and token issuance.
EOS and ThunderChain not only possess the similar core performance such as million TPS, but potentially competitive in the expertise of its development team or application prospect.
Millions of Transactions per Second
TPS is the dominant indicator on blockchain performance. As stated in its whitepaper, EOS has been tested and verified to be 3,300TPS. It can theoretically realize a throughput of millions of transactions per second by an architecture of parallel chains. EOS thus aims to become a decentralized operating system supporting business-grade applications with zero transaction fee.
ThunderChain also handles over 1 million transactions per second. It can realize inter-chain confirmation and interaction thanks to its patented homogeneous multichain framework, which enables executions of different transactions on different chains. Recently, Xunlei has opened the blockchain platform to developers and start-ups to create and manage DApps on the high-performance infrastructure.
Consensus mechanism is another determinant impacting the blockchain stability. EOS adopts a DPoS (delegated-Proof-of-Stake) that is expected to strike a balance between decentralization and high performance. Block Producers (BPs) are nodes that take on a crucial role on DPoS. There are a total of only 21 Block Producers who generate block in the EOS Mainnet and for their work a Reward.
Though DPoS has boosted the speed of transactions and blockchain creation, the mechanism is still exposed to some major risks including inconsistency. Just like political elections, BPs might ultimately separate into cartels that they hold entirely different views on governance, operation and other critical matters.
ThunderChain is highly consistent and may immune to forks with an optimized PBFT algorithm. PBFT is recognized for its strong consistency and is the most popular permissioned blockchain platform protocol. It addresses the challenges without the expenditure of energy required by proof-of-work (PoW).
User Base and Applications
EOS has a massive follower number driven by its widespread super node election. Lots of token investors have been drawn to EOS who will be critical to its future user base and ecosystem development.
ThunderChain is built on its parent company Xunlei’s 400 million user base and over 1.5 million participants in its blockchain ecosystem. Meanwhile, the recently released TCFS can help developers and enterprises build DApps with the improved capabilities in openness, transparency, non-temper ability, traceability, reliability, security and encryption, mass storage and authorization.
The above only compares EOS and ThunderChain in terms of their core performance. It will take time to examine other key factors including business scenarios and legal risks to determine who will come out on top of Blockchain 3.0.