At a recent conference in San Franciso, Vitalik Buterin, founder of Ethereum took to stage to talk about Ethereum and other cryptocurrencies. He talked mostly on Ethereum clones that claim they are better than Ethereum.
According to Vitalik, most of the Ethereum clones are basically centralized “trash”, as they claim they can do 3,500 TPS (transaction per seconds) but in reality, they have only 7 nodes doing all the verification.
“When a blockchain project claims ‘We can do 3,500 TPS because we have a different algorithm,’ what we really mean is ‘We are a centralized pile of trash because we only have 7 nodes running the entire thing.”
The above claim takes a jab at the consensus structure of both Tron and NEO. He also mentions the drawbacks of on chain governance models that EOS runs on.
“A couple of years ago I would have been more firmly in the Tezos-EOS camp that says there should be explicit on-chain governance. And now, I’m like absolutely against that, and I think that stuff is crazy. So if you look at EOS, EOS has these 21 delegate slots. And to get into one of these delegate slots you have to basically vote – or you have to have people with enough coins vote for you.”
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