The value of cryptocurrencies can be determined through many factors. One integral aspect is the overall number of network transactions. The number of daily transfers via TRON has surpassed Ethereum recently. An interesting development, albeit it represents a temporary snapshot of both networks.
The Rise of TRON is in Effect
Cryptocurrency networks are designed to handle a high transaction throughput. Some networks perform better than others in this regard. For the longest time, Ethereum was widely considered to be a top contender. That is still the case, but its “competitors’ are not sitting by idly either.
One of the bigger competitors in this department is TRON. New information confirms the number of network transactions is increasing rapidly. A nearly fourfold increase in transfers has been recorded over the past three days. At its peak, the network has surpassed 630,000. That number has dropped below 600,000 again over the weekend.
On the Ethereum side, not much has changed over the past few months. Its network remains fairly stable at 600,000 transactions daily. These statistics confirm both ecosystems are doing very well. Scalability remains a pressing matter for both TRON and Ethereum at this time. That latter project will achieve this goal through the Constantinople hard fork, which will go live in early 2019.
What is Driving This Growth?
It is difficult to come by proper statistics pertaining to TRON’s dApp ecosystem. This makes it slightly more troublesome to determine what is causing this increase in network transactions. Distributed applications usually have a positive impact on any cryptocurrency network’s transaction volume. Various applications are currently being built on top of TRON’s technology stack.
Another contributing factor is the recent deployment of the Tron Virtual Machine. This makes it easier for developers to build smart contracts and dApps alike. It is a vast improvement over how the network was used prior. Developments and upgrades like these confirm TRON’s network is in the process of maturing.
The number of network transactions does not necessarily affect the value of a project. Bitcoin Cash recently reached a high throughput courtesy of a network stress test. Its transaction numbers have declined significantly ever since. For TRON, it does not appear a stress test has been conducted recently. As such, this is a clear sign of growth, although statistics can look different depending on when they are consulted.
What do you think about TRON’s network transaction count surpassing Ethereum’s? Let us know in the comments.
Images courtesy of TRON and Pixabay