EOS Is 'Ethereum On Steroids?' Vitalik Buterin Serves Sarcasm On Twitter

Ethereum ETH/USD co-founder Vitalik Buterin recalled an old joke about cryptocurrency project EOS EOS/USD on Twitter Inc TWTR.

What Happened: “EOS is Ethereum on Steriods,” joked Buterin, in response to what was presumably more sarcasm from Ethereum developer Josh Stark who asked what EOS was.

EOS is a smart contract platform that quickly gained popularity after its launch in 2018, where it raised $4.1 billion in an initial coin offering (ICO). At the time, EOS was named a competitor of Ethereum because of its capacity to offer a higher rate of transactions per second (TPS) than the leading smart contract platform.

The project’s native token reached a high of $22.71 in April 2018 but is currently trading 96% below its all-time high.


After a series of internal issues, and an SEC lawsuit dubbing its ICO an “unlawful securities offering,” many consider the cryptocurrency project to be unsuccessful.

In fact, in November, EOS Foundation CEO Yves La Rose himself said “EOS, as it stands, is a failure," as per a CoinDesk report. However, La Rose stated that the new EOS Foundation would take a more centralized approach to support the ecosystem with the introduction of four pillars - Audit+, Wallet+, Docu+, and API+.

Price Action: According to data from Benzinga Pro, EOS was trading at $0.96 at press time, down 4.7% in the last 24 hours. ETH was trading at $1,173, down 3.87% over the same period.

Photo via TechCrunch on Flickr

Posted In: EOSEthereumJosh StarkVitalik ButerinCryptocurrencyNewsMarkets

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.