Ethereum , among all blockchain projects, was the first to
venture into smart contracts and dapps . In fact, its network
was built specifically to facilitate this technology which the
Bitcoin network lacked. This was going well with a few
innovative dapps built on the network such as Cryptokitties ,
Aragon and uPort.
Since its formal introduction in 2014, Ethereum had worked on
its own as a platform with a scripting language for building
decentralized applications and smart contracts. Tron first
launched its project on the Ethereum blockchain before its
“independence” in June 2018.
However, Tron is already far ahead of Ethereum with several
innovations that make its network a hotspot for developers.
Just in the year 2018 alone, Tron has launched a number of
products that are of great value to developers and the public at
large.
It started with the acquisition of BitTorrent. Tron’s CEO Justin
Sun has a very clear agenda to decentralize the internet and
make it accessible to all. This motivated the acquisition of
BitTorrent which showed a determination to achieve his goals.
Then the Launch of the Tron Virtual Machine (TVM) which is a
platform for developers to build dapps and smart contracts.
With the launch of the TVM, Tron’s daily transaction volume
went up 12% instantly. With TVM came several products that
were deliberately designed to compete with Ethereum Virtual
Machine (EVM)
Tron’s achievements aren’t the problem, the problem is that
Ethereum has failed to develop and upgrade to stay ahead of a
game it started. I think it is safe to say most of Sun’s ideas
were inspired by the Ethereum network.
Ethereum started working on the Ethereum Constantinople
which would have been one achievement of the company for
the year. However, a recent announcement reveals the launch
has been postponed till January 2019.
By the way, the Constantinople is a hard fork. I stand to be
corrected but have you seen what the Bitcoin Cash hard fork is
doing to the BCH right now? BCH was on a free fall even prior
to the fork. Maybe Ethereum’s hard fork may do worse to its
network.
Tron is at war with Ethereum and whether latter knows it or
not, this war is real because it is basically the only network
Tron has to compete with as far as smart contracts and dapps
are concerned. Although Tron started from Ethereum, its
determination to succeed is very obvious and is beginning to
tell on Ethereum with the first project migration from Ethereum
to Tron network.
Ethereum hasn’t done anything to improve its network speed
which Sun has always used as grounds for developers to dump
the network. Another problem which the network has failed to
fix is its processing speed which Tron has surpassed by far
just barely six months after its network became independent. It
is sad to say but Ethereum may soon be out of the trade if it
doesn’t do anything to compete favorably with Tron in the
smart contract and dapp industry.
Source :
https://zycrypto.com