Ethereum (ETH) vs TRON (TRX) vs Zilliqa (ZIL): Sharding and Plasma Plans Will Win?

The idea of “survival of the fittest” applies to many areas of the financial industry, especially when it comes to competing companies. Blockchain and cryptocurrency are some of the most competitive fields at the moment, and they often compete with each other as well. Blockchain technology is on a fast train to progress, running at a much faster pace than cryptocurrency. This speed could easily surpass cryptocurrency, though the projects that help this issue could be Ethereum, Tron, and Zilliqa.

The Ethereum platform has been around for some time, though there has been many security concerns and scalability problems over time. The most famous security breach has been the Parity incident, which will live in infamy as the coding scam that let hackers run off with $30 million in ETH. This is a prime example of the concerns that Ethereum needs to address to survive, especially considering that the platform can only perform 25 transactions a second.

Luckily, despite these issues in the security, Tron and Zilliqa seem to have been working to fix it, though their programming languages are quite different. While Zilliqa maintains a Scilla programming language that was designed to work with smart contracts, Tron uses Java as the programming language instead. The Tron network exceeds Ethereum’s scalability substantially, processing 2,000 transactions per second, though the six shards make it possible to handle 2,828 transactions per second.

Now is the time when Ethereum will have to decide if they want to evolve with the needs of the industry, or if they plan to let their platform squander. Three solutions to their scalability are presently in the works – Plasma, Raiden, and Sharding. With sharding, transactions are divided into small groups that are easier for the blockchain to manage and process, which is exactly what Zilliqa is presently doing right now.

Raiden is similar, but the transactions are scaled off-chain for processing on a separate channel. By remaining off-chain the nodes can created bonded payment channels between the transactions, which is a cheaper option. Fees only have to be charged when the transactions are forwarded.

Plasma is a little different. This process lets several smart contracts be a part of a larger whole. Each sidechain developed will have their own rules, but they still send the necessary information back to Ethereum.

Many investors still have faith in the strength of the Ethereum network, which could be, in part, due to the way that they are approaching the scalability that needs attention. Other major crypto firms have mirrored these sentiments. The co-founder of Circle, CEO Jeremy Allaire, said,

“One of the things that really catalyzed the [cryptocurrency] market last year was actually that Ethereum, in particular, kind of got to a place where you could build apps on top of it. You could issue new tokens on top of it; you could create new kinds of financial contracts, using the smart contracts technology. It also catalyzed a lot of competing infrastructures to Ethereum.”

Even though the industry is nearly a decade old, blockchain technology and cryptocurrency are still evolving to meet the needs of consumers. Faster options are needed, and developers keep delivering what consumers need to stay interested. Still, only the fittest and strongest projects will have the bullish tendencies needed to thrive as long as they can.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Bitcoin Adoption Explosion in Africa, Led by Nigeria, Kenya, and South Africa

Bitcoin continues to gain traction in Africa, with Kenya being the most bitcoin maximalist country, with 94.7% dominance. The top 10 list also contains...

DeFi App Growth Boosts Total Transactions On DApp Blockchains By $4.5B In Q2 2020: DAppRadar Report

In a report by DApp Radar, the total transactional volume on DApps touched the $12 billion mark in Q2 2020, representing a $4.5 billion...

Bitcoin to Follow the Equities Market Up or Down? One-Month Correlation Spikes to an All-Time High

Yet another week of weak price movement. The world’s leading digital asset is trading at $9,072, in red with 24 hours ‘real’ volume of just...

Public Mint Launches Its Blockchain; Over 200 Banks Plan to Support Its Digital Money

vPublic Mint, a firm founded by CNET founder Halsey Minor, has announced the launching of its ‘fiat-native’ public blockchain, which enables anyone to easily...

BTC Halving Week Brings in Record Monthly New Accounts & Doubles the Revenue for BlockFi

The past two months have been incredibly dull for the price of bitcoin, but it didn’t affect the businesses in the cryptocurrency space. The...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today