A comparative study of two competing blockchains – EOS and TRON

 The three major cryptocurrencies which focus on smart contracts and decentralized apps are Ethereum, EOS, and TRON. EOS and TRON target the gaming and gambling industry and app usage mainly dominated by gaming/gambling dApps.

EOS.IO is blockchain technology, like Ethereum, for the deployment of decentralized applications and decentralized autonomous corporations. EOS is currently the fifth-largest cryptocurrency in terms of a market cap of $2.51 billion (at press time).

TRON is an ambitious project dedicated to building the infrastructure for a truly decentralized internet. It is currently in 26th place in the list of cryptocurrencies in terms of market cap. 

Here is a look at some of the comparisons between EOS and TRON’s features:

EOS

EOS Uses Delegated Proof of Stake (DPOS) plus BFT algorithm for Consensus mechanism. DPOS is the fastest, efficient and decentralized POS mechanism. It uses a reputation system and real-time voting to achieve consensus. The blockchain is validated by a set of master nodes. The powers in the network are delegated to every member and no single party will be able to control the entire process.

EOS Block Producer (BP) is the one that collects transactions in the network, creates blocks, and broadcasts the blocks to other producers. There are 21 block producers, also known as Supernodes, and they will be constantly changing. The BPs use optimized hardware and they will be synced only with those 21 parties instead of the entire network. Block Producers will receive block rewards and network prestige in return for their work.

Block validators are full nodes that verify the blocks created. A full node is a program that fully validates transactions into blocks and for confirming transactions we need 14 nodes only.

EOS Supernode produces - 6 blocks with a block time of 0.5 seconds and a total of 126 blocks (21*6) at 63 seconds (126*0.5 seconds). 

TRON 

The TRON uses an innovative DPOS system in which 27 Super Representative (SRs) produce blocks for the network. Voters may choose SRs based on criteria such as projects sponsored by SRs to increase TRX adoption and rewards distributed TaPOS Consensus mechanism. 

In TaPOS, the network requires each transaction to include part of the hash of a recent block header. This requirement prevents transactions from being replayed on forks, not including the referenced block.

EOS not decentralized compared to ETH and TRON  

EOS is slightly centralized for the sake of scalability. Since it has only 21 block producers who verify all the transactions, a fairly small number of representatives are required to reach consensus, instead of waiting on thousand of nodes. This improves the scalability of EOS max 4000 transactions per second. 

EOS BP has been accused of vote-buying – block producer Starteos, a China-based start-up, offered to share its profit with users. On November 27, Starteos published a post on its Medium page that “We Gonna Share BP proceeds with you- This is the Way We Warm You Up in This Winter”! The team further added: “after delegating Starteos.io as a proxy you could get continuous and stable EOS revenue.” The community members stood against the EOS BP.

EOS and TRON Scalability and Dapp users:

According to data from dappradar.com, the top 5 EOS dapps combined have nearly 23000 daily active users which are nearly double as compared to Ethereum Dapp users. Large dApp usage in EOS is mainly due to fact that it can handle more number of transactions per second (TPS) (up to 4000 tps) compared to TRON (2000 tps) and Ethereum (15 to 25 tps).

EOS dApps 

 TRON dApps-

EOS VS TRON dApps Comparison

According to rankings from State of the Dapps, in the top 10 dApps, the majority of dApps are Ethereum based (50%), that of EOS is 20%, and TRON (0%). The first and last positions are shared by EOS-based Upland and Yup.

Advantages of EOS blockchain:

EOS gives more priority to scalability and performance compared to decentralization. It can transact 1000-4000 per second with no transaction cost.

The drawback of EOS blockchain:

The major drawback of EOS blockchain is the lack of decentralization and it might prevent dApp developers from using the EOS platform. Another setback is complicated wallet setup and users find it difficult to understand the platform’s RAM and CPU protocol.

Advantages of TRON compared to EOS

TRON platform is friendly and far better than EOS. It is easy to create an account, pick a username, and trade.

EOS has faced a lot of security issues after the release of Mainnet. It is complicated to create an account in EOS. It is more centralized compared to TRON.

TRON blockchain height exceeded 36.36 million with a total of 13332 nodes across the network. The total number of accounts on TRON Mainnet reached 67,051,820 with 11,156,049 new accounts added this week. The total number of transactions on TRON reached 2.68 billion, and 21 million new transactions were recorded this week. 

Technicals- 

EOS: The near-term resistance to be watched is $3.893 (Dec 8th 021), any breach above targets $4.40/$5.50. On the lower side, significant support is around $2.80; violation below will drag the pair to lower levels to $2.40/$2.

TRON

The pair has lost more than 40% from a minor top 0.1292 made on Nov 15th, 2021. On the higher side, immediate resistance is around 0.10188, surge past will take TRON to Nov 15th high and $0.179890 (Apr 12th, 2021 high). A significant weakness is only below $0.045.

Conclusion:

Both cryptos are promising in the games and gambling industry but TRON has better advantages compared to EOS. EOS has good scalability but security issues, not user-friendly, and centralization are a cause of concern.