The Tron Foundation says its recently launched Mainnet has gotten to about 1,200 transactions in one second. The new transaction speed is eighty times faster than Ethereum (ETH), and this was revealed by Justin Sun – the CEO and founder of Tron – in a tweet when he was talking about the potentials of BitTorrent acquisition by Tron.
Why Tron Has a Higher Volume of Transactions
By comparison, the speed of Ethereum is presently about fifteen to twenty TPS (transactions per second). The potential of Tron (TRX) to carry out a higher transaction volume than Ethereum is attributed to the fact that the network decided to allow its community members to elect a certain number of firms and individuals called “Super Representatives,” which are basically the nodes that’ll be responsible for creating blocks and validating transactions on the network.
Why the Ethereum Network Is Slower than Tron
Ethereum presently has more than 13,000 nodes on its network that records the decentralized ledger of the platform independently and increase the security of the network. Nevertheless, since all the nodes are required to process one transaction at a time, the platform has a limit on the number of transactions it can execute at a time.
Ethereum is presently working on scaling solutions such as Plasma and Sharding to enhance the transaction speed of the network. Vitalik Buterin – the creator of Ethereum (ETH), says the network will likely hit millions of transactions per second in the future.
Tron just migrated to its Mainnet from the blockchain of Ethereum late last month, and the blockchain project has been doing great ever since.
TRON (TRX) Price Today – TRX / USD
At the time of writing this article, Tron (TRX) is trading at $0.0376 after an increase of more than 2.8 percent over the past twenty-four hours. The market cap of the digital currency is $2.42 billion and its trading volume over the past twenty-four hours is $191.69 million.