Germany examines EOS and VeChain
Germany examines EOS and VeChain
Blockchain

Germany examines EOS and VeChain

By Marco Cavicchioli - 11 Jun 2020

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In Germany, the Federal Office for Information Security (BSI) examined the VeChain and EOS blockchains

They published an in-depth official report on the security status of more than 300 blockchain solutions currently on the market, in which only four blockchains are analysed, namely Corda, VeChain, EOS and Sia. 

Corda is a private project, whereas VeChain, EOS and Sia are public blockchains

About VeChain it says: 

“VeChain, like Ethereum, is a combination of Asian technology and digital currency.

Its blockchain is designed to store information about certain products. Unlike OriginTrail, VeChain is significantly more capitalized and is supported by a significant number of large companies. VeChain and OriginTrail cover the Supply Chain Management domain”.

OriginTrail is a project based on the Ethereum blockchain, but the report does not focus on it. 

With regard to EOS, it says: 

“EOS is a core technology designed specifically for the implementation of decentralized applications (so-called dApps). According to the developers, EOS is designed as a sort of blockchain-based operating system. EOS has a market capitalization of over 3 billion euros. The analysis is particularly interesting, given this high market relevance, mainly due to the new concepts utilized, such as the purpose-built consensus model”. 

The report also mentions Sia, saying: 

“Sia is a blockchain-based cloud data repository where users can make their free space available to other users. This concept poses significant security risks to users as it essentially allows outsiders to access their hard drives. Like OriginTrail, Sia has a low capitalization, although it is currently receiving a lot of media attention. It can therefore be assumed that Sia will occupy a substantial part of the market in the future. The analysis of Sia covers the field of data storage”.

Accordingly, while the assessment of Sia is uncertain, i.e. with both positive and negative sides, the assessment of EOS and VeChain seems to be good, as there is no evidence of any problems. 

BSI admits that they chose to analyze these projects because their code is public, in addition to the fact that they evidently found them interesting, and it is curious that they ignored other very important blockchains such as Ethereum, in first place, but also Cardano, Tezos, Stellar, TRON and Binance Chain. 

Nonetheless, it must be said that the study was probably aimed at analyzing projects that are interesting for companies, especially at a technical level, and not for investors or private individuals. 

 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 25 thousand subscribers.

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