In addition to TRON, there are other platforms with similar functionality to Ethereum - Cardano, Stellar, EOS, NEO, IOTA, etc. The developers of these networks believe that their platform has the potential to become the main infrastructure for decentralized applications and smart contracts.
Related: What is Ethereum
In this article, we will look at the differences between TRON and Ethereum.
The Ethereum network was invented by Vitalik Buterin in 2013, and launched in 2014, after an ICO round, when about $18 million ware raised. The full version of the Ethereum network was launched on July 30, 2015. In the cryptocurrency market, Ethereum is the second-largest project in terms of market capitalization, after Bitcoin. Ethereum is one of the first large blockchain networks created to develop and work with dApps. According to many developers, this platform was previously considered an example for many blockchain networks, however, some of them have already surpassed Ethereum in some aspects.
The TRON project was founded by Justin Sun. During the token sale, it raised 70 million, after which the developers launched the TRON mainnet. According to TRON developers, the project code is a fork or copy of the Ethereum project, and also uses a fork of the Solidity smart contract language. The main technical difference between Ethereum and TRON is that TRON uses a different consensus mechanism to add and verify transactions on its blockchain. TRON uses a consensus called “Delegated Proof-of-Stake”, in which 27 representatives are selected and create blocks for the further operation of the network.
Ethereum is often criticized for using scalability technology that is significantly inferior to other platforms. In the blockchain world, scalability usually means being able to serve more users and conduct more transactions per second. At maximum power, TRON can process 2000 transactions per second, while the Ethereum network can process only 25 transactions per second. The question is is it really so necessary at the moment to process a huge number of transactions per second? It's worth mentioning that Bitcoin, which still owns half the market capitalization of the entire industry, operates at 7 transactions per second.
As of the end of July 2020, an average of 1.15 million transactions were carried out on the Ethereum platform per day, and about 1.08 million transactions on the TRON platform.
In general, the more nodes a network has, the more decentralized it is. An active node requires a lot of electricity and maintenance costs to run, so this is not easy to misrepresent. TRON has about a thousand nodes, and the Ethereum network has 8448 nodes.
The address or account is used by the user to interact with the blockchain. At the moment, there are about 500,000 active users registered on the Ethereum blockchain, and about 150,000 active participants on the TRON blockchain.
Decentralized Applications - Number of active users per day
Active users are the measurement standard for the software and platform industry. For our comparison, we will use information on the number of active network users per day. As of 24 July 2020, the TRON network has about 68,000 active users, while Ethereum has only 35,000 users.
Decentralized Applications - Daily volume
The daily volume is the average amount of funds that the blockchain processes during one day. The volume can increase when exchanging an asset, when transferring assets, as well as when using assets in different applications. According to dapp.com, on July 24, 2020, TRON's network volume was 4.9 million, while Ethereum's volume was 707 million.
At the moment, Ethereum is still the leader in its field, despite the fact that Tron, EOS, and other projects are close on their heels.
However, regardless of which coin is currently in the lead, we can say with confidence that the battle of blockchains will drag on for a long time, and many more interesting plot twists await us.