In a tweeter announcement just hours ago, Justin Sun announced that the team at Tron (TRX) will be activating their Virtual Machine today, October 8th, at 8pm Singaporean time. In the tweet, Justin also highlighted the facts that Tron is 200 times faster than Ethereum and 100 times cheaper than EOS. His exact words were as follows:
Based on community consensus,
#TRON will be upgrading to Odyssey 3.1 at 8pm SGT. The TRON Committee function & TVM will go live, marking the start of the Smart Contract Era. TRON will be 200x faster vs. ETH, 100x cheaper vs. EOS. dApp developers & users, this one is for you! $TRX
The full tweet can be found below.
Based on community consensus, #TRON will be upgrading to Odyssey 3.1 at 8pm SGT. The TRON Committee function & TVM will go live, marking the start of the Smart Contract Era. TRON will be 200x faster vs. ETH, 100x cheaper vs. EOS. dApp developers & users, this one is for you! $TRX
— Justin Sun (@justinsuntron) October 8, 2018
The Stage Is Set for a ‘Showdown’
In one corner, we have the time tested Ethereum (ETH) that can handle up to 25 transactions per second with the possibility of the network getting congested due to gaming dapps such as Crypto Kitties and Pepe the Farmer. The platform also experiences high gas fees that have led some DApps such as Etheremon, to switch to other platforms such as Zilliqa.
EOS on the other hand, has faced democracy issues in the past including rumors that block producers colluded during the voting process when the mainnet was launched in June. Some of the 21 block producers, have been accused of voting for each other to stay on top. Moreover, some even had agreements to share a percentage of returns once elected to become Block producers.
Tron Looks Set to Triumph
On the other hand, the Tron network has had no scandal or mainnet hiccup thus far. The Tron platform has run flawlessly for the past few months since it was launched. The Tron democracy through Super Representatives, has proven to be very transparent with no indicator of collusion between the Super Representatives.
With the Tron Virtual Machine being activated, this in turn brings in the Smart Contract and Decentralized application eras for the Tron project. The DApps already on the old Tron platform, will be migrated onto the new together with all their users that have been estimated to being over 100 Million thanks to Peiwo. There is also the BitTorrent factor that will surely make Tron great in the coming months.
Which project do you believe will emerge victorious in the next few months between Tron, Ethereum and EOS? Please let us know in the comment section below.