Tron DApp Usage Jumps 48% — More Than 1 Million Transactions Last Week

The TRON Foundation launched its TRC20 exchange this week. It is a place for people to exchange tokens issued on the TRON platform. The TRC20 exchange is located at TRX.market. The TRC10 token exchange is still on Tronscan, the primary block explorer and information service for the Tron ecosystem.

TRC20 and TRC10 tokens can be understood as Tron-native analogues to ERC-20 tokens. The TRC10 token is a user-issued token that doesn’t require the writing of a smart contract. The TRC20 token provides all the functionality and power of a smart contract-based token system. TRC20 is very similar to ERC20. All that’s needed to issue a TRC10 token is 1024 TRX, which are the equivalent of Ether in the system. TRX were trading at $0.013 USD at time of writing.

Tron has a number of decentralized applications running on it at present time, and despite the overall market downturn, usage was up, according to the foundation’s own metrics, by 48% over the last week. Usage crossed the 1 million transaction threshold in a single 24-hour period. In their blog on the subject, Tron wrote:

“This week, the 24-hour transaction number for Dapps reached 1.04M, a 48% increase compared with last week; the 24-hour trading volume hit 640M TRX, an 151% increase compared with last week. We have seen significant increases in both indexes […]”

One of the more interesting projects built on Tron is SeedIt, a decentralized platform that lets users contribute funds to content creators they most appreciate. Also Project Atlas, which incentivizes people to seed content on the BitTorrent protocol, the flagship program for which Tron acquired back in July.

Ethereum DApps Not Seeing Much Usage

If we take a look at the rankings on dAppRadar and dAppTrack, we see that Ethereum dApps overall would be in a whole new league of usage if they saw anywhere near the transaction activity that Tron dApps do. There are factors that mitigate actual Ethereum dApp usage, and one is that several sub-platforms have been built and run on Ethereum which would not contribute to direct Ethereum dApp activity.

Source: dappradar.com

Also, not all token activity is decentralized application activity – for instance, the Basic Attention Token is not exactly a decentralized application. Yet, it sees several thousand tokens transmitted per hour. Same thing with  Binance Coin (BNB), which has a volume higher than many non-token altcoins. BNB had over $15 million in volume in the last 24 hours at time of writing. Since it’s not used as a decentralized application, it doesn’t count as dApp transaction activity despite seeing a high usage.

All of which is to say we’re not insinuating that the Ethereum blockchain is currently under-used. But the data tells us that the dream of Ethereum decentralized apps has yet to be realized in the form of a “killer dApp.”

The central focus of most Ethereum developers has been scaling solutions. Second-layer scaling has been a major avenue of investment in the Ethereum world. Projects like Raiden and 0x saw massive investments, and dApps which build on these sidechains would not necessarily contribute to Ethereum mainnet’s statistics, either.


Source
Author: P. H. Madore
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Ethereum vs. Cardano – Two Popular Cryptos, Two Dominant DApp Platforms

Ethereum vs Cardano

Ethereum and Cardano are two of blockchain’s most recognizable decentralized application (DApp) platforms. Often part of the same conversation, both projects utilize smart contracts to expand the value of blockchain technology beyond simple transactions – albeit in vastly different ways.

Founders from both projects, Vitalik Buterin of Ethereum and Charles Hoskinson of Cardano, make their opinions well-known and have active Twitter lifestyles. If you’ve been involved with cryptocurrency for any amount of time, you’ve probably heard about either founder at least once.

Less well known, though, is the shared history of these two projects. Before we examine the similarities and differences of the cryptocurrencies, let’s take a walk down memory lane to where they both began.

Ethereum vs Cardano – A Chance Encounter

Buterin and Hoskinson met through the Bitcoin Education Project, a creator of online Udemy courses that Hoskinson started after leaving a career in consulting. After meeting, Hoskinson received one of Buterin’s first Ethereum white paper drafts, which actually began as an outline for a Primecoin overlay protocol. From there, Hoskinson joined Ethereum as co-founder along with Buterin and six other individuals.

Hoskinson and Buterin worked together for about six months before parting ways.

A Difference of Opinion

The split really came down to one ideological difference: for-profit or non-profit. Buterin and the majority of the other founders argued that Ethereum should remain a non-profit project avoiding venture capital fundraising. Hoskinson thought otherwise.

He believed that they should accept venture capital money. However, with that, the team would need to implement some type of governance and figure out a road to profitability. As you now know, the team opted for the non-profit status.

Six months after leaving, Hoskinson partnered up with another Ethereum co-founder, Jeremy Wood, to form IOHK (Input Output Hong Kong), the company behind Cardano.

Ethereum vs. Cardano – Differences

At their core, both projects are meant for DApp development and smart contracts. However, the similarities end there. From consensus mechanisms to architecture, the two blockchains differ significantly.

Consensus Mechanisms

Right now, Ethereum uses Proof-of-Work (PoW) to maintain the network. This won’t last forever, though. The Ethereum community is planning to switch to Proof-of-Stake (PoS) sometime soon. Casper, Ethereum’s new PoS algorithm, is an attempt to solve many of the scaling issues that plague the blockchain.

Cardano also implements Proof-of-Stake but utilizes the Ouroboros algorithm. It works like this:

  • Slot leaders verify transactions and create blocks.
  • If you hold Cardano’s coin, ADA, you qualify to become a slot leader. It doesn’t matter how much you own.
  • To become a slot leader, the “Follow the Satoshi” algorithm needs to select a coin you own.
  • The network does all of this manually, so there’s no additional work that you need to perform.
Programming Languages

Ethereum’s primary programming language is Solidity. The Ethereum team created Solidity specifically to build smart contracts that run on the Ethereum Virtual Machine (EVM).

Cardano, on the hand, utilizes Haskell and Plutus. Haskell is a functional programming language that’s been around since 1990. But the most recent stable release launched in 2010. Similar to Haskell, Plutus is a functional programming language; however, it was created in-house by the Cardano development team.

Architecture

Probably the most significant way the two smart contract platforms differ is in their architecture.

Cardano is split into two layers. The layers separate the account value ledger from the reasons why value transfers from one account to the other. This separation gives you, as the end-user, more control over the privacy and execution of your smart contracts.

The Cardano Settlement Layer (CSL) takes care of the value ledger while the Cardano Computation Layer (CCL) handles the “why” of transactions.

Currently, Ethereum only has one layer. But, second layer scaling solutions are in the works. Plasma is one of those solutions. Plasma contains child blockchains similar to Bitcoin’s Lightning Network. These child chains facilitate transactions without having to take up bandwidth on the main Ethereum chain.

Ethereum will soon implement sharding as well to help with the blockchain’s scalability issues.

Other

Besides the obvious differences in market cap and price, the two cryptocurrencies have some less critical differences.

Ethereum has an over three-year head start on Cardano. The project launched in January 2014 whereas Cardano only recently came onto the scene in September 2017.

Cardano has one of the largest coin supply’s in the industry with a maximum supply of 45 billion. Ethereum doesn’t have a maximum token amount, but the circulating supply at time of writing is just over 100 million.

Ethereum vs Cardano – Communities

As of now, Ethereum has one of the largest and most active (if not the largest and most active) developer communities in crypto. It’s the top choice for initial coin offerings (ICOs) and many of the tokens that you know and love run on the Ethereum network. As long as Ethereum maintains this popularity, the price should continue to rise.

Cardano may not have the support that Ethereum does, but it still has a healthy community nonetheless. The real test will come when Cardano is ready for DApp development. The long-awaited release could bring the adoption that Cardano needs to get its price moving positively.

Ethereum vs. Cardano – What’s Next?

Both platforms have active development teams with jam-packed roadmaps ahead. Ethereum is working to become a more scalable DApp platform through the implementation of Casper (PoS), Plasma, and sharding. Cardano will soon be releasing Shelley, an update that includes human-friendly addresses, open Ouroboros delegation, and multisig transactions among other things.

It may be cliché, but comparing these two projects really is like comparing apples to oranges. Both are fruits (DApp platforms) with their own sets of pros and cons. Some community members prefer one over the other while others like them both. And, some people would prefer both fail.

In the end, Ethereum and Cardano are both respectable projects that should make a significant impact on the world.


Source 
Author: Steven Buchko
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