TRON Posts Personal Bests in Surpassing Transaction Volumes of Ethereum and EOS
TRON the 11th largest cryptocurrency network by market capitalization has surpassed the transaction volumes of Ethereum and EOS amid recent market rise. TRON was founded back in 2017 but has made significant progress in a short period of time. This is the reason it is often referred to as Ethereum-killer.
TRON is quite similar to the Ethereum in its network functionality, where the network is not just focused on pushing their native token up the price charts, but built a complete blockchain ecosystem with functionalities such as Dapp hosting, tokenization and many more. While Ethereum has been in the crypto space for quite some time now, TRON is giving it a tough competition.
TRON's biggest forte is its Dapp hosting platform which has already surpassed the historical highs of Ethereum and EOS based Dapps in Q1 of 2019. Justin Sun, CEO of Tron foundation recently tweeted to share the historical news, where his tweet read,
“The total transaction volume on #TRON was very impressive in Q1. It once surpassed $91 million on March 15, which was way beyond the historical highest record of #Ethereum and #EOS dapps. #TRX $TRX”
The 2019 Q1 report of the TRON suggests a massive jump in the number of active users on its Dapps, increased transactions, and a rise in volumes as well. Even though these metrics were never consistent and went through several ups and downs throughout the quarter. However, March was the best performing month.
The number of active Tron Dapp in January was lowest at 101, which increased to 104 in February and touched 130 by March. The number of active users on these DApps, however, showed a different pattern with January registering 137,905 active users, February saw a surge with 160,990 active users, while the numbers declined in March to 113,807 users.
Ethereum No More A Dapp King
The reports of TRON surpassing Ethereum as the leaders in Dapp transaction volume came on the heels of a new Diar report, which revealed that Ethereum network's Dapp volume has reached an all-time high in the month of April. The report read,
“This year is the most prolonged period of growth in terms of transacted volumes DApps have witnessed, ever.”
As per the data available on etherscan.io, the total number of blocks on the Ethereum network was 6,424, while the block reward was at 13,206.26 Ether.
On the other hand, the EOS network was at the 58439066th block with EOS authority being the head producer. EOS has been a tough competitor of TRON, and its Dapp transaction volume is also better than Ethereum. The report from Hard Fork confirmed the same and also added,
“It might sound like Ethereum is on a knife-edge going into Q2. But given how well it weathered the bear market and how stable its price was for the first half of Q1, it seems to be resilient in the face of recent challenges.”
TRON has been on a development spree ever since it shifted its operation to its own mainnet from the Ethereum platform. Since the move, TRON has performed exceptionally well especially at the decentralized application hosting front. While the network has recently surpassed the historic high of Dapp Transaction volume on the Ethereum network, it did not come as a great surprise.
Even the most successful Dapp, a gaming-focused application is hosted by TRON, which not only generates the highest revenue amounting in tens of millions of dollars but also boats of highest active users. Looking at the progress that TRON has made over its short period of existence, it might enter the list of top 10 cryptocurrencies very soon.