The competitions in crypto space have become very rigorous. With time, thousands of crypto coins have emerged and are improving themselves every day in order to beat other competitors. Since a lot of cryptocurrencies are there, it becomes very difficult for a new investor to decide that in which cryptocurrency he/she should invest. Since a wrong decision can lead to losing all your invested money, a well-researched decision needs to be made.
In this article, we are going to have a detailed comparison between three of the most popular coins in the crypto space. The coins to be compared in this article are Ethereum, EOS, and TRON. So, let us have a detailed comparison among these three cryptocurrencies on the basis of different factors:
1. History of Ethereum, EOS, and TRON:
Ethereum was firstly proposed by a programmer Vitalik Buterin at the end of 2013, but it marked its existence in the crypto space on July 30, 2015, with a huge contribution of around 3/4th of total supply in 2018. On the other hand, EOS’s foundation was proposed in 2017 and its existence in the market was released on June 1, 2018, as an open source software. Meanwhile, the foundation of TRON was laid in the month of September 2017 by Justin Sun. One year later, in June 2018, TRON released in mainnet.
So, if these three are compared on the basis of history, Ethereum is the oldest one to come in the market whereas both EOS and TRON came at the same time in the market.
2. Current Position and price in the market:
If we talk about Ethereum, it is second largest cap holder in the crypto space, only topped by bitcoin. The current value of one Ethereum equals to $117. The market cap of Ethereum is $12,250M and occupy around 10.57% of total crypto space. Talking about, EOS being new in the market, still, have occupied an important position in the market. The current value of one EOS values $2.65. It occupies around 1.91% of total cryptocurrencies and the market cap of EOS is $2.216M. While TRON is far behind the rest of two. Its value is $0.03 and has a market cap of $1,917M. It occupies a total share of around 1.66% of total crypto space.
So, if compared, Ethereum has the best performance as compared to two others.
3. Consensus Mechanism:
The Ethereum cryptocurrency focusses on decentralized applications. Or in simple words, it is more decentralized than rest of two. It aims for the democratization of the smart contract applications.
Talking about EOS, it looks in the area of an easy and efficient way to trade an asset. The algorithm focusses around the delegates (usually 21 in number). These delegates take part in the confirmation of the blocks. While the third one TRON, the consensus mechanism works in a way where 21 supernodes are responsible for managing the entire corporation. The supernodes are elected by the TRX token holders. In short words, TRON aims for a blockchain embedded web interface in the future.
4. Programming Languages used:
All the three mentioned coins use different programming languages for the perspective of development. For EOS, the developer needs to have adequate knowledge of C++ if they want to develop the smart application using this platform in crypto space. Nextly, if you want to develop your application using the crypto platform of TRON, you must have the knowledge of one of the famous programming language ‘Java’.
Ethereum, in contrast to the others too, doesn’t use a popular programming language. So, if you want to embed Ethereum in your smart application, you will have to learn a new language ‘Solidity’ prior to use this blockchain technology.
So, all the three platforms use different languages, where the newer ones use the popular programming language and the older one use a new language.
5. Competition with each other:
Ethereum has been dominating the market for a very long time. But now, after the evolution of new platforms like EOS and Tron, it is facing a very large competition. All the three have their own merits as well as drawbacks. Talking about Ethereum, if it has maintained its position for such a long time in crypto space, surely it is capable of it. \EOS, on the other hand, is giving a tough competition to Ethereum. It aims to work in the same space as the Ethereum. It is relatively similar to Ethereum. EOS is cheaper and faster and does provide every facility that ethereum provides, but the difference is the better quality of EOS.
TRON has its own market, unlike EOS. It has focussed on the development of decentralized web interface in the crypto space. The ambitions of TRON are too beneficial for crypto space.
Although it is notable that both, EOS and TRON, started off in the market as Ethereum’s ERC-20 tokens but have changed significantly now!