Steemit Crypto Academy s2week1 Homework for @alphafx. Task: COMPARISON BETWEEN ETHEREUM AND TRON by @arahman

in SteemitCryptoAcademy3 years ago (edited)

Hello @alphafx, I would like to say a very big thank you for the lecture you gave.I am here today to answer your homework task, which is the comparison between Ethereum and Tron.
But before I start the comparison, I would like to share some knowledge about Blockchain

BLOCK CHAIN

blockchain-3277336_960_720.jpng.webp
Pixabay

If you want to understand what a blockchain is, then you must understand what a database is.
Now, a database is an electronical storage of information on a computer system. It isn't necessarily recording and storing marks of students in an examination on Spreadsheet. Database involves huge amount of data or information that can be accessed and manipulated by different users in a very fast way.
This brings us back to what Blockchain really is. This simply means that, Blockchain decentralizes and transmits information to several users and this data or information can easily be manipulated by the different users or servers. All of this is possible by covering several servers(sometimes hundreds or thousands) so that they can create enough storage for many users to access the database simultaneouly.

800px-Blockchain_workflow.png
Wikimedia


TRON AND ETHEREUM

Now let's understand what Tron is, and what ethereum is before we get to the comparison of the two.

Ethereum

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Some people actually don't know what is ether and what is ethereum. Ether(ETH) is the cryptocurrency for the Ethereum network, you shouldn't confuse yourself with the two.Ether(ETH) is also the second most popular cryptocurrency, with Bitcoin(BTC) leading the way.
Ethereum is an open-source decentralized blockchain which helps in the running of smart contracts and also allows apps to be built on it without the involvement of a third-party system.
Ethereum was lunched in 2015 after the successful lunch of Ether(ETH) in 2014 on pre-sale. It was a great success.
ERC-20 tokens is the name given to projects built on the Ethereum network. As of today, Ethereum is valued at US$2,390.91

Tron

monitor-tron-stock-md.jpg

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Just like ethereum, Tron is also a decentralized platform that supports content creators and entertainment. It was founded in Singapore in the year 2017 to help reduced the transaction fees paid by creators for publishing and gaining access to digital works on the blockchain. It uses a cryptocurrency called Tronix(TRX) which is currently valued at US$0.1460

COMPARISON BETWEEN TRON AND ETHEREUM

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1. SECURITY
Considering Ethereum, it has been so concerned about building more security on the platform since the hack that occured in 2016. Ethereum has since built to become the most secure peer-to-peer network and with more improvement coming.
Tron on the other hand, has not recorded any breach of security or hack involving siphoning funds unlike Ethereum.It uses the mechanism called Proof-of-Stake
2. TRANSACTION SPEED
The speed of a transaction depends of the size of a block, block time,network traffic and transaction speed.Tron with a huge speed than Ethereum of about 1121 transactions per minute and Ethereum. In other words, Tron uses about 15 seconds to complete a transaction while Ethereum uses about 6 minutes. This makes Tron more fast in transaction speed than Ethereum.
3. DECENTRALIZATION
The main aim of Ethereum is to provide worldwide network of decentralization to accomodate creation of projects and smart contracts. But Tron aims at abolishing any form of third-party systems in entertainment and content creation.
4. Market Value
From my previews paragraphs, it clearly shows that Ethereum has a much higher market value than Tron.(Ethereum with $2,390.91 and Tron $0.1460)

Summary of the comparison between Tron and Ethereum

EthereumTron
High market valueLow market value
Highly secureLess secure
More DecentralizedLess decentralized
Low transaction speedHigh transaction speed

Conclusion

Blockchain is a very good platform for cryptocurrency. From my research, I would strongly recommend Ethereum over Tron network.
Thank you professor @alphafx for the lecture, looking forward for the subsequent lectures.

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Scoring

AspectScoreRemark
Structural Presentation1adequately presented
Adherence to instruction1.5all rules followed
Quality of content3.5Nice work
originality1.5Post is not plagiarized, nice job.
TOTAL7.5well done, see you next time

Thanks for participating

Thanks professor @alphafx

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