EOS And TRON Show Their Strength Surpassing Ethereum In dApps This First Quarter
Ethereum (ETH) seems to be having two strong competitors in the market, EOS, and Tron (TRX). Both of these projects have performed very well during the first quarter of this year. According to a recent report released by Hard Fork, only the dApps over 50 were developed on top of the Ethereum network.
Ethereum’s dApp Not As Attractive As Before
The largest dApps are now from EOS and Tron rather than from Ethereum. As reported by Hard Fork, 26 of the top 50 decentralized applications were built on top of EOS, 21 on top of Tron and just 3 using Ethereum.
One of the main issues affecting Ethereum is the fact that it has scaling issues that EOS and Tron do not have and that was able to solve by centralizing their operations compared to ETH. Ethereum has a network of decentralized nodes and miners (with Proof-of-Work) that EOS and Tron do not have. Nonetheless, Ethereum wants to become a Proof-of-Stake (PoS) network in the future.
Ethereum has also updated its network to Constantinople, which reduced mining rewards for users and improved the network in many other issues. Hard Fork mentioned that attackers could have exploited smart contracts to steal funds from them by interacting with a specific contract several times.
The report has also mentioned Ethereum’s governance. This is a very important topic for the community because one of the developers, Lane Rettig, explained that the governance of the ETH network has already “failed.” At the same time, there are some enthusiasts that think that the Ethereum network is being controlled by just a small number of individuals.
Currently, Ethereum is the second largest cryptocurrency and blockchain network in the space, followed by EOS in the 6th position and Tron in the 11th position. These networks have $17.11 billion, $4.49 billion and $1.59 billion market capitalization, respectively.
All these networks have very interesting projects for the future that will play an important role in determining the fate of their networks.