The co-founders of Ethereum and Tron recently engaged themselves in a battle of wits. In an interview, Vitalik Buterin, the co-founder of Ethereum, commented on the competition between Ethereum and Tron. He claimed that he would “lose hope in humanity” if Tron usurps Ethereum.
Justin Sun came with a witty response on Twitter satirically praising Ethereum while at the same time diplomatically placing it to a veteran status; a thing of the past.
When #TRON succeed, we will build a monument in memory of #ethereum! @VitalikButerin will be remembered for his tremendous contribution in #blockchain industry! #TRX#BTThttps://t.co/ig3Yg50NND
— Justin Sun (@justinsuntron) March 24, 2019
Recently, a Chinese Institution: Center for Information and Industry Development (CCID), also ranked Tron above Ethereum in its list of Public Blockchains.
Ethereum vs Tron: Let’s Look At the Facts
Ethereum, released in 2015, is the pioneering Dapps Platform currently placed second w.r.t total market capitalization. Tron Foundation was initiated in 2017 on the Ethereum platform itself. However, it is far more capable than Ethereum in terms of scalability and has also implemented Proof of Stake (PoS) on its Blockchain. Tron is currently ranked 11th w.r.t total market capitalization.
Transactions per day
The transactions per day on Tron are four times that conducted on the Ethereum platform. Therefore, the usability of Tron seems greater than Ethereum. The number of Dapps that follow TRC-20 protocol is also increasing at a rate of one new Dapp every second day.
While the number of transactions executed on Tron per day is ranging in the 1.5 M to 2.9 M range, there is significant volatility in the ‘number of transactions’ on Tron. The transactions are varying by 1.5 million in a span of fourteen days. The number of transactions on Ethereum is primarily in the 500k-600k range.
The race to the Top
The Total Market Capitalization of Ethereum is almost $13 billion more than Tron. The total circulating supply of Tron is 66.68 billion, while the total quantity of Ether (ETH) tokens is 105.5 Million. Therefore, to overcome a difference of 13 billion dollars, Tron would have to gain ten times its current valuation while the price of Ethereum remains the same. Looking at the current statistic and development of Ethereum, Buterin’s Ethereum might have the upper hand.
Nevertheless, the growth of Tron has been exponential in the past year. The risk vs. reward ratio on Tron is also comparatively less than Ethereum at current prices. Moreover, Tron leads in front of Ethereum in terms of technical prowess. Hence, only time will tell whether Justin Sun’s claims are really true.
What are your views on which platform be the ultimate leader in Dapps and smart contract development?
Nivesh from Engineering Background is a full-time Crypto Journalist at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com
