As decentralization begins to go mainstream, the crypto-community has to decide which blockchain technologies it will back and why; this article is an argument for the EOS blockchain and Delegated Proof of Stake.
When Dan Larimer (creator of the Bitshares, Steem, and the EOS blockchains) announced at the Inside Bitcoin Conference in Vegas in 2014 that mining was now obsolete, he did not endear himself to many that were in the crowd. This is because many of the people in attendance had made their fortunes mining cryptocurrency using the Proof of Work (POW) model. Unbeknownst to Larimer, that announcement sowed the seeds of a silent war; a war between those that wanted to ensure that the POW system continue to thrive, and those that wanted move on from an antiquated system to a superior one.
The writing was on the wall, so to speak, and the community would have to choose – would they go with POW or DPOS? The choice the crypto-community made then was one driven by fear and greed, but with the impending release of EOS the community has another chance, and this time their choice will shape the world’s view on blockchain technology forever.