- Tron shows Ethereum dust in terms of daily transactions.
- Ethereum 2.0 upgrade will cement the network’s position in the market.
Tron has in the past few months from the launch of its mainnet focused on becoming not only the largest decentralized network in the world, but also the preferred for launching decentralized applications and tokens. The network has within a few months of Independence from the Ethereum (ETH) blockchain achieved great milestones including but not limited to the Tron Virtual Machine (TVM), acquisition of Bittorrent; a peer-to-peer file sharing platform with over 100 million users, the launch of TRONBOX, Project Atlas among other amazing developments.
Ethereum, on the other hand, has been struggling with critics besides, the market bear trend is not helping with the situation. The good news for Ethereum is that the developers of the platform are burning the midnight oil to make sure that the impending network upgrade, Ethereum 2.0 comes as soon as possible. This upgrade is supposed to uplift Ethereum to support transactions in the excess of 1,000.
However, the 11th largest cryptocurrency, Tron is on another level when it comes to daily transactions. Ethereum has a market cap of $21.9 billion compared to Tron’s $1.5 billion, although the smaller coin’s daily transactions have hit 1.2 million. Ethereum transactions currently stand at 555k following a drop from 614k on October 29.
Tron is slowly becoming the preferred network for developers owing to its easy to use tools and lower hosting fees. Moreover, products like TRONBOX have made it easier for developers providing an easy access to vital development tools. The compatibility feature of TVM to Ethereum Virtual Machine (EVM) makes it possible for developers to switch between the two platforms seamlessly.
Tron TRX) is trading at $0.02 on Friday and has a 24-hour trading volume of $57 million. Ethereum (ETH), on the other hand, is changing hands at $212 and is up a subtle 0.8% on the day. Ethereum has a 24-hour exchange trading volume of $1.7 billion.