Tron’s Founder Bullish As Daily Transaction Volume Closes In On Ethereum
When TRON launched its Mainnet in May, its founder Justin Sun proclaimed that the young platform was already better than its older sibling Ethereum. He even listed a number of factors that pointed towards that assertion.
Supporters of Ethereum, the second largest cryptocurrency by market capitalization, did not take those claims lightly. To many, Tron would never match the might of a platform that dominated the decentralized applications (dApps) and smart contracts ecosystem.
Yet, two months down the line, Tron’s relentless match to greatness has gathered enough speed to pose a challenge to the ‘World Supercomputer’.
At the moment, that looks like a possibility- with TRX daily transactions in August surging to reach a third of what Ethereum has handled over the same period.
To any impartial observer, Tron’s progress in the last few months cannot be wished away. And the statistics that keep rolling in have emboldened many of the fact that this platform could yet reach Ethereum’s levels.
TRX began August with just 30,100 daily transactions, not remarkable at all. However, by the end of the month, Tron’s daily average transactions stood at 206,000. The figures are courtesy of Tron Colony, one of the biggest TRX bulls.
It caught the eye of Justin Sun, who as always, immediately retweeted the figures. The message was clear: TRX was on the rise and Ethereum is within shooting range.
“TRX started August with only 30,100 transactions a day. By the end of the month, the average number of daily transactions was NEARLY 1/3 that of $ETH. #TRON is the fastest growing coin; this rocket ain’t stopping for anyone.”
The numbers are still just a fraction of Ethereum’s average daily transactions. However, factor in the age of the project and it suddenly becomes clear that Tron’s achievements are not negligible.
In fact, looking at the average daily transactions for the first day of September, you realize that the number keeps growing.
Recording a high of 440,135 put Tron’s transaction on the day very close to that of Ethereum. Compared to data captured on etherscan.io, the TRX volume represented about 67 percent of that recorded for ETH.
Tron to beat Ethereum?
The fact that Tron’s transactions are closing in on Ethereum’s is just one of the many angles that have stirred up a debate between the two crypto communities.
As early as March, Sun claimed that his project was better than Ethereum and listed seven reasons why that was the case. At the time, it reinforced the idea among TRX supporters that then top-ten coin was the next Ethereum-killer.
That notion persists and got a boost when Tron’s throughput reached 2000TPS and surpassed Ethereum by a wide margin. Recent remarks about how Tron is over “80 times faster than Ethereum” have only added to the heat.
Tron’s acquisition of BitTorrent is yet another of the frontiers that have provided the Sun and TRX community with ammunition against Ethereum.
According to Justin Sun, the teaming up of Tron and BitTorrent means the latter is now the “largest and most advanced peer-to-peer network in the world.”
The idea that BitTorrent makes TRON a better platform got a recent boost from IOHK’s Charles Hoskinson. And Sun recently explained how the P2P platform fitted into Project Atlas, meant to make Tron even bigger and better.
Tron has also surpassed EOS in terms of network accounts, with fifth-ranked EOS reportedly having 299,743 network accounts while TRX account numbered 301604 on September 4.
Such numbers reinforce the fact that this project that seeks to decentralize the internet was expanding and growing at a great pace. Up to that point, Sun will continue being very bullish about Tron’s chances in the crypto space.
It may not reach Ethereum’s levels anytime soon, but maintaining the same pace could see it claim a spot among the top five projects in the industry.