The crypto market is flooded with cryptocurrencies and each one of these crypto coins and tokens are supported by blockchain networks that are unique in their own rights. Of these, Ethereum is one of the most commonly used by businesses for its ability to host blockchain smart contracts and decentralized applications. However, in recent times, some new crypto assets and blockchains have come up to threaten the monopoly of Ethereum, one of them being Tron. But, can Tron ever take over Ethereum?
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Comparing Tron and Ethereum
Tron started out as something like a poor man’s Ethereum but slowly and steadily managed to climb up the crypto ladder and inch closer to Ethereum itself.
Driven by a competent team of developers and led by CEO Justin Sun, Tron has managed to achieve extremely high transaction volumes and give Ethereum a run for its money.
At the time of writing, according to data sourced from Coinmarketcap, Tron is priced at $0.026580, while Ethereum cryptocurrency Ether is priced at $164.95. In terms of market capitalization, there is a gap of nearly 16 billion dollars between the two, with Tron obviously having the lower value.
Even though Tron might seem to be at a disadvantage as far as price and market cap are concerned, it is fast gearing up to corner Ethereum in terms of features, functionalities and efficiency.
In fact, in November 2018, Tron managed to overtake Ethereum in terms of daily transaction volume and since then its roller coaster ride to glory has mostly just moved upward. It even managed to cross 3.3 million dollars in the daily transaction value.
Moreover, the throughput of Tron is quite high at 2000 TPS and it is far higher than that of Ethereum, which is just 25 TPS.
A large number of decentralized applications or dApps have also made the move from Ethereum to Tron. Clearly, Tron seems to be catching on. But the question remains, can it move ahead of Ethereum?
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Can Tron Ever Overtake Ethereum?
“Ever” is too broad a timeframe for us to judge against but we can definitely analyse this issue in the long term and in the short term.
In the short term it seems unlikely that Tron would surpass Ethereum, considering there is such a wide gap between their positions still. While Ethereum is at the second spot, Tron is all the way down at the eleventh.
In the long run, however, there does seem to be some hope. At the rate that Tron is progressing, it definitely stands to dethrone Ethereum and take its place, even though it will definitely take a lot of time for that to happen.
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