BM declares war on Ethereum again: DeFi has failed in Ethereum, and EOS is the future

Bitshares, EOS founder, and Block.One CTO Daniel Larimer (BM) became the news center again yesterday. The object of this BM discussion is the decentralized financial (DeFi) that has been popular this year, and it expresses the firm position of "DeFi is not EOS." Nowadays, the EOS heavy press conference in June is getting closer and closer. BM has previously said that it will announce the biggest news since the birth of EOSIO in June. Now BM has publicly shown its love to DeFi, and it is speculated that after taking the E-shop market in Ethereum, EOS has taken a look at the DeFi market.

BM yesterday directly attacked the progress of DeFi's DeFi on Twitter. He “does not talk about feelings” and characterizes the fiery DeFi on the Ethereum platform as “failure”, he said.

“When it comes to DeFi, Ethereum has failed. Ask Bitfinex, Bancor or other projects that want to implement a simple order book on Ethereum. EOS learned from the earliest DeFi platform bit stocks. Only EOSIO can Speed, low latency, ordered indexing, floating point, and C++."

“EOSIO has a RAM market, bandwidth lending, Bancor algorithms, domain auctions, and a variety of linked token designs. The future of DeFi is at EOSIO.”

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As a predecessor of BM, what class did BitShares have? Netizens believe that bit stocks have done a good job in decentralized finance. BM replied,

“From BitShares 1.0 to 2.0 to smart contracts, EOS has learned a lot.”

BM: Bitco is the first to create DeFi, and MakerDAO is a branch of the BitShares development team.

Some netizens said for the BM message,

"So why is DeFi actually invented on ETH? What breakthrough ideas have emerged on EOS, or is EOS just copying ETH? It seems that what EOS does is copy."

The BM retaliatory denied this claim, saying that DeFi was born in the BitShares and was promoted on EOS.

“DeFi was invented on the BitShares and promoted on EOS. The MakerDAO team is a branch of the BitShares development team. In addition, EOS is not copying others because Eosio does things that eth can't do.”

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However, some netizens do not buy it. Directly attacking EOS is not a blockchain at all. It is not decentralized. Let's talk about centralizing finance.

“DeFi can't be decentralized without a blockchain. EOS is not a blockchain. Of course, we can put DeFi on EOS, but in that case, DeFi is not DeFi. It's CarFi (Cartel Financial)."

In addition, BM has discussed DeFi in the EOS Telegram group. BM said,

“EOS is designed for DeFi and offers a better DeFi experience.”

DeFi is now in full swing on the Ethereum network, and the scale of the DeFi industry is also expanding, becoming a fire after Ethereum following the ICO. EOS has become the biggest competitor of Ethereum since its establishment. In the field of Dapp, EOS also worked hard to break the monopoly of Ethereum. If BM declares war again, it will attract DeFi for EOS. Today, there is less than a month left in the EOS conference in June. According to previous reports, Block.one will release heavy news on the first anniversary of the EOS main network, announce the new EOS future development route and new products. What kind of news will BM release? We will keep a close eye on the latest developments.

How does BM view decentralization?

In addition, although it is criticized that EOS is not a blockchain, it is not decentralized, but this may be because BM has its own views on decentralization, and his understanding of decentralization may be "unique." He said on Twitter yesterday.

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If people want to be decentralized, they have to pay more for local services. Most people want accountability, not decentralized services that are low quality and costly.

Smart people support decentralized systems with a large number of service providers. This means supporting many currencies, blockchains and centralized businesses. Any link is a central reflection.

Decentralized solutions will only succeed if the centralized financial costs outweigh the public interest. As long as people trust the big government, then we still have a long way to go. Accountability can give new vitality to the center.

The centralized system takes advantage of the prisoner's dilemma, in which individuals sacrifice group freedom for private savings. Breaking this dilemma requires individuals to place principles on the centralization of profit or decentralized systems. This has become a paradox.