Evrmore vs Ethereum vs eUTXOs
Bitcoin uses:
- a UTXO architecture (Unspent Transaction Outputs)
- a simple cash-like protocol
- no smart contract functionality
Ethereum uses:
- an Account based architecture
- complex general-purpose smart contract support
eUTXO schemes (Cardano and Ergo) use:
- an eUTXO (extended UTXO) architecture
- a complex extended protocol which transforms UTXOs into Smart Contracts
Evrmore is building:
- a UTXO architecture
- a simple DeFi (distributed finance) and commerce protocol
- limited covenant contract functionality
UTXO has many advantages over Account-based design.
- Atomic swaps and other parallel operations are much easier to implement securely
- Privacy is easier to control due to simpler objects with short life controlled by fewer parties
- Scalability and cost predictability are superior due to well-defined operations and interactions
Smart contracts and eUTXO architectures aim to provide general-purpose Turing complete programmability. They deliver dramatic increases in complexity and flexibility at the cost of much lower security, predictability, and performance.
Ravencoin has shown how the Bitcoin UTXO protocol can be enhanced to support assets beyond cash while preserving the advantages of the Bitcoin design. Evrmore will further enhance that protocol to handle most common commerce needs and financial instruments WITHOUT the cost and risk of general-purpose smart contracts.
Purpose-built and optimized is better than general-purpose.