One of the biggest merits of the cryptocurrency market is the side industry that is spawned, ie, the Blockchain industry. It created a space for people to get innovative and come up with solutions for problems people face on the internet and in the technology itself. The blockchain industry is now one of the most innovative spaces across industries, globally.
The blockchain technology in itself has a lot of progress to make if it is to fulfil global financial requirements and support the entire financial system. And the obstacles in its way at this point are; scalability, reliability and regulation. While not much can be done for the later of the two points, the first two points are heavily worked on by the blockchain startup industry to better. There are many companies in the industry that solely work on the scalability issues of the blockchain and vice versa.
In this article, we will be discussing two such blockchain companies. While both of them are poles apart in their development and roadmaps, at the end of the day their final goals are similar. Both of these companies want to be the first to create a completely decentralised web. The companies are; TRON and EOS. Let us take a closer look.
TRON: Decentralize the Web
Purpose: TRON is a decentralised platform for entertainment services. The platform was founded by Justin Sun. It essentially acts as the base of an entertainment platform that has two parties; the creator and the consumer. The creator, obviously, creates the content and based on interest consumers buy and consume the content.
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Background: TRON started off on the Ethereum platform and its native token was also an ERC20 token. But in 2018, the blockchain platform launched its main net successfully in the month of June. Along with the launch of its main net, the blockchain platform also regained control over its tokens TRX.
Aim: One of the main aims of the TRON ecosystem is to make the transition from the current way of things to the blockchain seamless and easy. Not many people are entirely comfortable about creating things on a new protocol and it takes specialised knowledge for the same. In order to circumvent the initial learner’s curve, TRON has created a platform on top of which developers can create their own content and projects. Think of it as an Ethereum platform for creative content.
Method: The reason TRON is poised to have great performance is that the TRON ecosystem essentially eliminates the middleman. By making the entire streaming content and content delivery a peer-to-peer process, TRON has effectively made the middleman obsolete. Thereby giving back control to the content creator themselves.
By eliminating the middleman, the TRON platform has removed all semblance of centralisation in one shot. This particular way of sharing content makes sure that there is a peer-to-peer connection between the consumer and the creator and also ensures that the credit goes where the credit is due.
The native token of the TRON platform is called TRX. All dealings and payments that are to be made on the platform are made and done through TRX. Initially, TRX was an ERC20 token and proprietarily belonged to the Ethereum Network, however, post the company’s main net launch, the TRX token now solely belongs to the TRON platform.
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The TRX Token
The TRX token is the native token of the TRON network. Consumers pay creators using this token. Initially, the token was an ERC20 token, but post the main net launch, the token became solely the TRON network’s property. The token was released in the market back in September of 2017.
In September 2017, it started off at a value of $0.002 USD. The TRX token was just in time for the bull in December and set its all-time high at $0.25 USD. The token post main net launch has not seen much change in terms of value. However, it remains the 10th largest cryptocurrency in the market by market capitalisation with a capitalisation of $857,788,613 USD.
TRX is currently trading at $0.012906 USD.
EOS: Blockchain Software Architecture
Purpose: EOS is a blockchain architecture. It is essentially a computer application that allows other users to build on top of it without having to know the nitty gritty of the blockchain and the way the software behaves in different situations. The EOS platform is essentially a more efficient Ethereum network for dapps.
In fact, EOS is many times called the Ethereum Killer. Because it has solutions to the problems Ethereum is facing at this point and it is becoming clearer that Ethereum has peaked. With EOS, now becoming the backbone of dapp development, the platform actually has solutions for most of Ethereum’s problems.
Background: EOS too started off as an Ethereum Network startup. In fact its first token too was an ERC20 standard token. The team at EOS has many professionals who have already worked with the blockchain before and
Functional Details: EOS boasts of great TPS rates and is also insanely easy to use. The TPS rate of EOS alone is at 3,000 TPS already. The final aim of the EOS platform is to make sure that they become the first company that creates the first decentralised web in the industry.
Aim: The platform, however, in the past has been called out for having too many bugs. But that has been sorted out. Now that that has been sorted out, the EOS platform is actually called the Ethereum Killer.
The EOS Platform, ironically, started off on the Ethereum Network. It conducted its main net launch last year. The EOS Platform’s main net launch, though finally was taken out successfully, was criticised for having too many bugs and glitches. But with that in mind, the EOS Platform has since rectified its problems.
The EOS Token
The EOS token was initially an ERC20 token which proprietarily belonged to the Ethereum Network. Post the main net launch, the token became EOS’s property. The token is the 6th largest cryptocurrency in the market by market capitalisation, with a capitalisation of $1,675,573,957 USD.
The EOS token was introduced into the market in July 2017. And started off strong at $1.03 USD. The EOS token, like every other token in 2017, benefitted from the bull of 2017. However, its all-time high happened almost four months later in April 2018. EOS token’s all-time high is $21.46 USD.
EOS is currently trading at $1.85 USD.
As an Investment
At first glance, if we were to compare the values of both tokens, it is clear that EOS is the more valuable investment because the token is more valuable at a comfortable $1.85 USD. As far as token ratings go, both tokens are part of the top 10 tokens of the cryptocurrency market. One at 6 and the other at 10.
In terms of volatility, EOS is more volatile than TRX. It has seen more highs and more lows than TRX. But that is not a reason to rule it out, because volatility is a sign of growth in the market. With that being said, EOS does seem to have the greater chance at a growth in the cryptocurrency market.
With that being said, both tokens are good, from an investment point of view. They are both members of the top 10 club and are both great coins to have in your portfolio.
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