The concepts of survival of the fittest and Darwinian evolution doesn’t only apply in the flora and fauna world, but also in the world of digital currencies and blockchain technology. Blockchain projects that ignore the fact that blockchain tech evolves very fast will find themselves behind other blockchain projects that solve similar problems but in an efficient way. This is where the competition between Tron (TRX) and Ethereum comes in.
The platform of Ethereum (ETH) has been known to have some scalability issues and security susceptibility. When it comes to scaling, the platform only handles twenty-five transactions per second, and this causes the platform to slow down whenever a new ETH decentralized application becomes very popular like the well-known CryptoKitties.
Ethereum’s security issues are being tackled by the Zilliqa (ZIL) and Tron (TRX) teams. Zilliqa has come up with a new programming language that was designed with the security of smart contract in mind, while Tron utilizes the Java programming language. The Tron platform handles up to 2000 transactions per second while ZIL handles up to 2,828 transactions per second.
How Ethereum (ETH) Can Keep Up with the Competition
The Ethereum platform is currently exploring three scalability solutions – Plasma, Raiden, and Sharding. Sharding divides transactions and nodes into smaller divisions instead of having the whole network to validate the transaction, and this is the same concept used in the ZIL platform.
On the other hand, Plasma utilizes a series of smart contracts to build hierarchical trees of sidechains. It is with these scalability solutions that a lot of digital currency fans and investors are bullish about the digital currency. Similar sentiments have also be voiced by the CEO of Coinbase, Circle, and other top digital currency companies across the globe.
Ethereum (ETH) is the second largest digital currency in the world by market cap, and the team behind the digital currency is working so hard to maintain its position.