Can TRON Overtake Ethereum Or EOS?
TRON is a very ambitious project dedicated to creating a truly decentralized internet. While this sounds like an audacious feat, they’ve done incredibly well this year at hitting major milestones. Despite being one of the youngest blockchain projects, the TRON Network is one of the fastest growing and best performing digital currencies in the market.
While the company has reached many goals, one of the major milestones they’ve accomplished is reaching 1 million accounts as of December 23, 2018; just 184 days after their mainnet launch. TRON managed to reach 1 million accounts at an incredibly fast rate, three times faster than Ethereum had in January 2017.
Misha Lederman went to Twitter to show that Ethereum accomplished the same goal 542 days after its mainnet launch.
This is an interesting comparison between TRON and Ethereum. Many in the cryptocurrency community began questioning whether TRON could even overtake Ethereum’s position and gain market dominance in 2019. While it sounds promising for the TRON Network, it’s important to take into account that the cryptocurrency market and industry was significantly smaller when Ethereum first launched. TRON may be growing well with 10,000 to 40,000 new users every day, however, Ethereum is also amassing a large number of users with 50,000 new users joining everyday.
Apart from user signups, Sun also Tweeted that TRON had reached over 100 million contract triggers. Contract Triggers are mechanisms that aid in the execution of smart contracts on the network. The latest milestone of hitting 100 million triggers is a great example of the significant progress being made on the TRON network.
It was only just last month on November 27, 2018, that TRON had approximately 20 decentralized applications built on the TRON network. Sun, however, expected that in December, they would have an additional 80+ more dApps with a 400% growth rate in December 2018. TRON has in fact, also surged past this milestone as they currently have 83 decentralized applications.
Sun believes that at the current growth rate, TRON will begin to surpass EOS in regards to the number of decentralized applications on the network, by the end of January 2019. EOS currently has 259 blockchain applications. While TRON is significantly behind, their current growth rate may place them soon in front of Block.one’s EOS network.
It’s without a doubt that Justin Sun, the founder of TRON, has set grand and large goals for the network and their developer community. Sun has managed to impress and gain the respect from the cryptocurrency community as he delivers on his promises. According to CryptoDaily, TRON is one of the only few blockchain projects with an in-depth and clear plan for the future. Therefore their progression into 2018 was fairly smooth and expected. This ranged from the acquisition of BitTorrent, the launch of the TRON mainnet, and as we mentioned in our previous video, their plan to unlock the blockchain gaming industry.
These events have helped the TRX token move into a new position as a top ten cryptocurrency by market cap in 2018. Reaching these new milestones are however just another step in Sun’s plan in building the infrastructure for a truly decentralized internet. TRON’s clear plan and progression into 2018, has been a refreshing and a stark contrast to the volatile and uncertain nature of the cryptocurrency industry. As for the TRX token, according to CoinmarketCap, TRON is currently sitting at a $0.019 (Just under 2 cents per token) with a market cap of $1.3 billion dollars. TRON’s value has remained quite steady since July 2018
What are your thoughts on this situation guys?
Do you think that TRON may eventually overtake the EOS and Ethereum network?
Or do you think Sun and the TRON Foundation still have a long way to go?
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Disclaimer: Cryptopig content is written by a team of blockchain passionate people. We are not registered as investment advisors. Don’t take the information in this post as investment advice and make sure you do your own research before investing. Cryptocurrencies are a very risky investment, never invest more money than you can afford to lose.