This is quickly becoming one of the most exciting races happening in the public blockchain and crypto world. There are several other competitions like Cardano, Stellar, and NEO etc. However, it is evident that the real battle is among Ethereum, EOS and Tron.
All three have their own merits as well as drawbacks. However, following should be of help to get a brief understanding of similarities first:
- They are all infrastructures for decentralized applications(DApps) to be built on top of.
- They all have their native tokens and allow users to create crypto tokens of their own.
- They all support smart contracts, which in fact is the lines of written code that a blockchain stores on it and then gets automatically executed as and when the terms and conditions, predetermined through consensus, are met.
All three Blockchain platforms believe that they possess everything that is required to go above and beyond the basics currency or Bitcoin asset application, in order to become the very basis for DApps (decentralized applications) as well as for keen contracts.
Though EOS, TRON, and ETHEREUM all are focused on the same goal, they have a different approach for shaping their goal into reality. In this write up we will compare EOS and TRON, owing to their recent triumph over Ethereum in the sense of luring more of active users, which is considered to be metric one can boast of in the realm of technology.
A Brief Background
What Is Ethereum?
Ethereum is a decentralized and open source network venture that is maintained with no formal administration, structure, or the executives’ framework. Ethereum has been dominating the market for a very long time and if it has maintained its position for such a long time in blockchain and crypto world, surely it is capable of it.
It is noteworthy, that both EOS and TRON, started off in the market as Ethereum’s ERC-20 tokens but have changed significantly now. Ethereum focusses on decentralized applications, or in simple words, it is more decentralized than rest of two.
Security: Because Ethereum is a mature platform, they are quite efficient at defending attacks and are breached rarely. They are now attacked significantly less when compared to EOS. Somehow, the new fork could prove it to be a little problematic.
What is EOS?
EOS was developed by a private company – Block.one. It has had the most successful crowd-sale because and raised a total of $4 Billion with a year-long fundraising campaign. The EOS primary net was launched on June 14, 2018.
In order to simply demonstrate, in July 2018, EOS successfully reached the high point of 1000 transactions per second. This figure is certainly and evidently higher than what Ethereum has ever been able to boast of.
Security: No doubt EOS has various security issues and performs the worst when compared to others. According to Golden Finance, “various security incidents tend to occur every day.” The objectives of such attacks are mostly EOS.WIN, EOSBet, EOSDice and other head ventures.
What is Tron?
Tron is founded by Justin Sun. TRON successfully raised a total of $70 million much before launching its primary net in May 2018. It uses a fork of the Solidity smart contract language, which was the programming language developed for and used on Ethereum.
Tron network definitely knows how to be in the news, be it the acquisition of BitTorrent or Justin Sun’s tweet to support binance cryptocurrency exchange after a massive hack recently.
It is noteworthy though that BitTorrent’s acquisition by Tron network wasn’t to prove superiority but to incorporate the functionalities in its own framework. Because of this Tron boasts of far more advanced data handling and faster transactions.
Security: Tron was recently attacked this January and with it being a latest organization it proposes that its security is probably not as good as the other two platforms. As stated by Bitdegree, “the reputation around it has been pretty good thus far”.
SCALABILITY OF THESE PLATFORMS
Other than Governance, the greatest difference between these three contenders is their way to deal with the scalability trilemma. It is basically, how to balance security, decentralization and scalability. It implies that, out of the three, you can just pick two alternatives while giving up on a third one.
A Blockchain cannot possibly have maximum decentralization, security and scalability all at the same time. For EOS and TRON, the primary selling point is their far better limit and capacity than scale when compared with Ethereum.
Each second, it can deal with thousands of transactions rather than the tens, which mean they are undeniably more easy to use for the general users who has become used to utilizing applications with quick speeds.
Speed: Transaction(s) per Second
Ethereum is mainly criticized by EOS and TRON and numerous other dApp platforms for utilizing far inferior innovation in terms of scalability, which is the ability to deal with expanding measures of work. Scalability generally means its capacity to oblige more clients and more transaction every second.
What we are estimating here is the maximum limit or greatest recorded transactions per second. At its maximum limit, EOS can deal with 4000 transactions per second while TRON can deal with 2000 every second, when compared to Ethereum’s measly 20 Transaction per second.
Activity Transaction(s) per day
Image Source: Blocktivity Transactions Chart: https://bitcoinexchangeguide.com/tron-reveals-why-it-is-a-better-solution-than-eos-and-ethereum-in-latest-weekly-dapp-report/
There is no consistent or undisputed winner. As mentioned previously, all measurements above are imperfect or flawed, some way or another, and every individual will have a different opinion relying upon which estimations they see are significant and all the more most likely, which tokens they hold.
Regardless of what you trust, the Blockchain race is a long one and whoever is driving today may fade into oblivion one year from now. So, in case you have a strong conviction on which Blockchain is the best; you will be liberally rewarded for being right by just purchasing its coin and clutching it. Good Luck!
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