Ethereum Blockchain Challengers Tron and Qtum Look to Become Top Distributed Ledger Networks
Yoan Vilner is a startup mentor at Microsoft and Google-led accelerator projects and blockchain tech blogger. He recently published an article that was featured on Forbes. In the article, he claimed that open source hybrid distributed ledger technology by Qtum might be the future of the blockchain.
Tron And Qtum Are Strong Competitors For Ethereum
According to Vilner, the x86 Virtual Machine recently released by Qtum will offer a much better value proposition than Ethereum. He explained that this Virtual Machine would make it possible for developers to contribute apps and code by being able to use a wide array of programming languages. Worth noting is that other blockchain-powered platforms developed after Ethereum allow the users to deploy DApps and use smart contracts with coding languages with which they are familiar.
For example, Tron lets the users contribute code in Java. Ethereum has its own programming language that is called Solidity, which many programmers do not know how to use. This has greatly influenced the number of developers willing to take time to contribute code to Ethereum. Besides allowing developers to more options to code, Qtum also supports SegWit. This separates transaction signature data from the transaction data. According to Vilner, this makes Qtum more efficient.
Another point worth noting is that Qtum can use the Lightning Network. Vilner then added that the Qtum developers plan to launch QtumX in 2019. According to a blog post on Medium, the Qtum development team has design QtumX to be an enterprise version of this smart contract platform. Large companies can use it since it has better stability. It could help to grow the exchange efficiency and guarantee the network’s safety.
However, the products and services developed by Qtum have yet to be fully tested. Whether they will be better than Ethereum remains to be seen. Vilner, who is also a CNB contributor, Tron will transform how producers and consumers of content interact and transact.
Tron Could Be Centralized
Vilner also claims that Tron’s purchase of Project Atlas and BitTorrent will help Tron to become the largest decentralized network globally. The aim of these purchases is to connect the Bittorrent P2P network to the Tron Blockchain. However, a close examination reveals that the governance model of Tron requires one to appoint 27 transaction validators. Thus, there will only be 27 masternodes, which control most actions on the network.
As was covered by CryptoGlobe, the EOS platform has a similar model of governance. In the EOS platform, the crypto community picks 21 block producers. These validators validate every block on the network. This has led to some serious issues since the block producers have been colluding. Many consider EOS to be centralized instead of decentralized. Most people do not believe it is democratic at all and is prone to misuse.