STEEMIT CRYPTO ACADEMY S2WEEK1 TASK BY @jimah1k: COMPARISON BETWEEN ETHEREUM AND TRON.

Hello @alphafx,

Before I start to answer the question I want to say a very big thank you to the crypto academy for this opportunity and also to our own wonderful professor @alphafx for this great lecture he delivered. I hope you continue to deliver more.

In view of the lecture note given I want to compare two blockchain platforms which are ethereum and Tron network.

I can’t just start comparing the two without explaining what a blockchain is.

what is blockchain?

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Blockchain is a way of managing a ledger of records in a decentralized manner. It means everyone contributes in maintaining and updating the ledger, which makes it impossible to falsify.

ADVANTAGES AND DISADVANTAGES OF BLOCKCHAIN.

Blockchain’s potential as a decentralized form of records keeping is without limit or almost without limit below are some advantages and disadvantages of blockchain.

Pros.

• Less cost since there is no involvement of any third party.
• Transactions made are secure, private and efficient.
• Decentralization makes it very hard to hack
• Accuracy is assured since no human involvement in verification.

Cons.

• Low transactions per second.
• Significant technology cost associated with Bitcoin.

Ethereum(ETH)

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what is Ethereum?

Ethereum is an open source blockchain based, decentralized platform it enables smart contracts and apps to be built and run without any problem from the third party. In 2014 it lunched ether on a pre sale Which was a massive success, in 2015 Ethereum was official lunched.

Ether is the crypto currency of Ethereum network, it is mainly used for trading as a digital currency exchange and also used to run apps inside Ethereum. Currently it is valued at $2,427.03.

Tron

what is Tron?

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Tron is blockchain based decentralized platform which aims to build a free global digital content with distributed storage technology which allows effective sharing of digital content.

Tron was founded in 2017 in Singapore based on a non profit organization which is lead by Justin sun the CEO,
why Tron? Tron aims to bridge the gap between creators and the consumers by the elimination of the middle man so that the consumer will be able to pay less.
Tron uses a crypto currency call Tronix which can be used to pay for the content.
Currently Tron is valued at $0.1460

COMPARISON BETWEEN ETHEREUM AND TRON

Ethereum and Tron are different blockchain platforms all together. Tron was founded 3yrs after Ethereum, to be able to give a detailed comparison you must consider the. Points below.

• The market value
• Decentralization
• Speed
• Security

Decentralization.
From the above explanation I did I made mention of them all being decentralized. When a platform is decentralized it means there is no involvement of any other party when you are dealing with transactions. From my explanation of Tron I said their main goal is to eliminate parties. Also the more nodes and app the more decentralized a platform becomes which means Ethereum is more decentralized since it has more nodes and apps.

Security
In 2016 there was a hack scandal involving ethereum since then Ethereum has improved their security currently it has the most secured peer to peer network. Generally the security across the entire network is very strong. Tron on the other hand has bug bounties program. Looking at the two I think Ethereum is highly secured.

Speed
When it comes to speed it depends on the block time, traffic, seize and transaction fees. I would say Tron is faster than Ethereum because it handles 1121 transactions per minute. And also Tron transactions take up to 16 seconds while Ethereum take up to 5mins you can all see the difference is vast.

The market value
looking at the screen shots above one can easily say that Ethereum is highly valued than Tron.

Thanks for reading