There is a great deal of talk about EOS disrupting existing blockchains.
To start, I must say that I am not a believe in blockchains competing. While some offer benefits that others do not, in the end people are establishing businesses on all the blockchains out there. Like any business, some will succeed while others fail. The main reason is people are not interested in using what is being offered. That is what is so exciting about the blockchain world. We all have the choice to utilize what interests us.
Bitshares is a blockchain that was created with the intention of taking over the financial system. Whereas right now, we see a centralized system that is run by a number of major corporations and exchanges, Bitshares offers an alternative. It is a decentralized exchange that provides a variety of innovative products. Like most blockchains, it is still in its infancy yet growing. Essentially, it offers creative ways of financing for those in need of capital while individuals have new ways of gaining a return.
Bitshares, like Hive, is the fastest blockchain out there. With the ability to process up to 100K transactions per second with 3 second transaction speed, this is light years ahead of the more well known blockchains like Bitcoin and Ethereum. That said, EOS is rumored to be able to offer virtually unlimited speed. This caused a few token holders of the other blockchains to be concerned, including those with Hive and Bitshares.
Why would anyone want to do that?
Aside from the increase in functionality, there is a more practical reason for this move.
Bitshares, like all blockchains, was built by those who believe in the "Wild West". The people involved tend to dislike the current system and how it enslaves people. They know the government really is nothing more than a stooge for the major corporations, most notably the banks. Wall Street controls the world with the ability to pump the entire global economy, right up until they crash it.
These people truly want little to do with the mainstream establishment.
Bitshares needs to protect this identity. It needs to offer the privacy that comes with the "go screw yourself" attitude. Getting away from this core is very dangerous since we are only going to see the expansion of this over the next few years.
This creates a problem. How does one take over the financial arena by operating on the outskirts? It cannot. Hence, Bitshares somehow needs to get to the institutional money. That is where the real action is.
Unfortunately, this means operating in an environment where there is regulation. This is the exact opposite of the mindset that created Bitshares (actually cryptocurrency in general). So how to resolve it?
Enter EOS.
EOS is a hybrid network in that it can operate with anonymity while also being able to offer KYC to those institutions that require it. Suddenly, a new market of major money just opened up. Financial institutions can move aspects of their trading to this blockchain while conforming to the government's regulations. At the same time, people who are involved in some of Bitshare's other products who do not want to be known can still operate in that manner.
This is a much different ambition. EOS is not a threat to Bitshares. Instead, it is an addition to it which will make it even more powerful. While I have no confirmation on this, doing something like this with EOS will give Bithsares the ability to scale to greater speeds if required. Expanding the perspective market for Bitshares can only increase the potential value.
The June release of EOS might not be the death of Bitshares but its birth.
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