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Which Platform Is Best For Developing Blockchain dApps? Ethereum, EOS or TRON

Some of the features to look for when looking for a blockchain on which to develop a dApp include decentralization,

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Some of the features to look for when looking for a blockchain on which to develop a dApp include decentralization, high speed of transactions or throughput, transparency, security and safety for users’ assets, personal data and information. But there is much more than that!

Ethereum has been around as a go-to ecosystem for many developers: Ethereum platform has a hyperactive community of developers and active community; it is regarded as more decentralized; it provides different standards like ERC20, ERC1400, ERC721, ERC223, ERC777, ERC1155 and ERC1337; and above all is seen as more tested in terms of dApp security. However, TRON and EOS, although haven’t been around for long, are equally competitive and being preferred by many today as platforms for building dApps. In some way, they are better than Ethereum: for instance, they achieve much higher throughput or transactions per second count than Ethereum. 

Also, Ethereum is by far the most popular building platform for cryptocurrency developers, now hosting over 2,000 Dapps according to https://dappradar.com/, followed by Tron with about 600 dApps and EOS with about 500 dApps. Out of the total 1,445 new dapps built across the 6 largest smart contract networks, 690 were built on Ethereum and 411 and 260 on TRON and EOS respectively. This is even as EOS becomes the platform with most of active users out of the 3 billion blockchain and cryptocurrency users.   

There are many options and top blockchains for dApp developers willing to develop better dApps on blockchain, and one might be interested in knowing which one to use over the other. We consider the three top — Ethereum, EOS, and TRON. However, generally speaking, from a perspective of development, which blockchain to use will depend on the client project at hand. We try to compare these three and where all of them fit in the dApp development landscape.  

As smart contract development platforms

Ethereum provides smart contracts just as does other platforms EOS and TRON, but is certainly referred to as a “battle-tested” platform for smart contract development than those other three.  Ethereum has been more preferable for many developers than Hyperledger for building gaming, trading, subscriptions but Hyperledger would be more preferable for less focused applications and more B2B perspectives such as insurance and supply chain.

Ethereum’s programming language is Solidity, which was written by Ethereum developers, and unfortunately because it is not as popular as C++ or other languages, it misses a lot of features. Tron also like Ethereum, uses Solidity since it uses a fork of the Ethereum Virtual Machine.

In comparison, EOS programming language is C++ which is a very popular programming language and one that is already developed quite extensively. With C++ you get to write faster, easier and more high-quality smart contracts. C++ allows developers to create more complex and bigger applications with ease. Therefore you would want to choose either if depending on the language you are experienced or familiar with or one with which you want to develop your dApp.

Ethereum’s DeFi dapps have hit $1B in assets represented in its smart contracts this month from just $600M in December last year. On Tron, these types of dApps are hard to find. The number of financial dapps increased by 610% and their transaction volume has increased by 251%, which makes Ethereum even more potential as a platform for financial dapps. deFi dapps had 1M active users in 2019. 

The amount of blockchain gaming users increased 162% as expected since 2018. Tron, which leads in gaming applications. However, the investment hype around these dapps decreased as shown by a falling volume which recorded a 60% drop compared to 2018.

Ethereum’s DeFi dapps have hit $1B in assets represented in its smart contracts this month from just $600M in December last year. On Tron, these types of dApps are hard to find. The number of financial dapps increased by 610% and their transaction volume has increased by 251%, which makes Ethereum even more potential as a platform for financial dapps. deFi dapps had 1M active users in 2019.

The amount of blockchain gaming users increased 162% as expected since 2018. Tron, which leads in gaming applications. However, the investment hype around these dapps decreased as shown by a falling volume which recorded a 60% drop compared to 2018.

Like TRON, EOS is also labelled “gambling” or “high-risk” platform although DeFi apps may start to emerge more on the platform. Particularly they aren’t as popular on these platforms because of issues around security and trust needed to build financial dapps.

ethereum

Transaction volume, community of users and user activity

In terms of community, which can be defined as the total amount of interactions with dApps on these blockchain platforms, people doing transactions, Ethereum attracted a total of around 1.42 million last year, including 1.28M new users and 137K old users; This figure accounted for 10% of the total amount of active users and was highest compared to EOS and Tron active users. Not to forget to mention that the total number of daily active users shot 2 folds compared to 2018 stats. EOS had 518 K while TRON had 967 k users. Dapp users on EOS, however, experienced a 30 percent drop in its active daily dapps. The network was experiencing an average of nearly 80,000 (79,749) users using dapps on EOS every day.  

Although currently the highest number of dApps type on Ethereum is the marketing and gaming category, followed by gambling and high risk category, and then exchanges and DeFi or decentralized finance, Ethereum is strongest case for finance dApps with nearly half of the blockchain’s dapp users having used a decentralized finance app in 2019. These applications having locked about $700 million worth of ETH tokens as of late means Ethereum promises a safer investment exposure than EOS and Tron.

According to the 2019 data, nearly half of active dapp users on Ethereum had used DeFi dapps in 2019. 70% of the volume generated by ETH token was the use of decentralized exchanges and financial services such as lending. So again, Ethereum looks like a warmer place if you are looking for a warmer place to be.  

Of the 3.1 billion transactions that happened across 24 crypto networks in the last one decade, as found out in a research by Blocknative Ethereum and Bitcoin are clear winners. Bitcoin saw 259.2 million transactions while 242.8 million transactions took place on the Ethereum network. Nevertheless, EOS and Tron haven’t existed that long and are showing strong signs because of their versatility and speed. However, considering the short amount of time these have been operating, they are more active.   

EOS, according to the Dapp, recorded the highest activity in 2019, with 479 or 97% out of 493 dapps being active. Steem had second highest with Etherem and NEO recording lowest activity. In other words, EOS would be much more preferable for a developer looking for a network with more active users although Ethereum still has highest users in total. Not active users alone, EOS leads in terms of transaction value volume and total number of transactions.

According to Dapp.com data, the 9 leading blockchain networks added 58.5% of volume in 2019 compared to 2018 transactional volume. EOS generated a volume of $5 billion or 50% out of the total $10 billion (excluding non-native blockchain token eg. ERC-20 token transactions) in 2019. EOS has $14.3 million, the highest on-chain daily volume, Ethereum has some $8.7M, and TRON sits at third with $3.4M

EOS also led in terms of the share of the total number of transactions on the 9 leading blockchains, with its EIDOS contributing over 2.3 billion of transaction volume. The blockchain also leads in account usage among dApps showing a close to 50% rate meaning one account uses EOS dapps in every 2 accounts activated.

Ethereum also, however, leads in total number of transactions ever done because it has been around for much longer.    

Wink game Tron

Developer community and developer tools

One clear advantage about Ethereum’s development platform – the blockchain – is the vast number of developers from which to get support, templates and help and there is a lot of community work from which to borrow if you are a developer looking for such; and secondly, there are already plenty number of development tools which can help a lot from starting a local blockchain node to unit testing smart contracts with JavaScript. It has more developer tools than any other blockchain development platform. That’s not to mean that TRON and EOS are unpopular; these platforms have been growing quicker than did Ethereum.  

By last year, Ethereum nodes were being run in 89 countries and out of those, 59 were being run at universities and colleges. The network had 13,225 smart contracts powering dapps and 200,360+ active Ethereum developers. About $175K grants had been awarded to projects developing on Ethereum.

The number of developers on Ethereum are four times more than those on EOS or TRON. While Ethereum has around 2,000 Github watchers and roughly 445 developers contributing to the ETH codebase, Tron has about 309 Github watchers and 118 developers that have contributed to the TRX Github repository. Ethereum has 9,200 forks while Tron has 673 forks.

Having a huge community of dApp developers means a lot for Ethereum just as is with any other platforms. Because not only does trust comes in when many developers can trust to develop working dApps on the platform for so long, but when it is possible to secure assets and those of their customers; a huge community base ensures that things keep moving as more dApps will be built which helps thrive the internal economy.  

In most cases, a new blockchain will be riddled with bugs lying undiscovered due to untested features and aspects – bug discovery ecosystems, auditing and code review ecosystems, and discussions around ccrypto projects on Ethereum are much more lively, bigger and active than in other blockchains. There still are better chances to finding more experienced auditor to review your code than in new blockchains.   

Transaction throughput, decentralization, governance and interoperability of blockchains   

EOS has claimed it can achieve 4,000 TPS, which is by far the highest of the three blockchains. Therefore, it has the highest throughput among the four protocols although this number reflects upper limit or capacity of the network can achieve rather than amount of transactions it handles every day. The required throughput currently is about 80 TPS.

Ethereum is still PoW but according to a recent announcement, it will be able to manage 3000 transactions per second after a series of updates and improvements but currently stands at a much lower rate. TRON can manage up to 2000 TPS.

In terms of consensus protocol, which is another big thing that would influence a developer choosing any of the blockchain platform, EOS uses DPoS same as Tron. For development, while EOS utilizes web assembly virtual machine, Tron uses a fork of the Ethereum Virtual Machine, meaning it also uses Solidity as a programming machine. This means Tron and Ethereum are compatible and it is possible to port Ethereum dApps to TRON. The compatibility is an advantage for developers who want to leverage one blockchain features that may prove better than the other blockchain’s features. TRON, however, recently announced they will be moving to Liquid network from Ethereum.

But TRON dApps aren’t compatible to EOS neither is EOS compatible with TRON yet. EOS, which is already seeking compatibility with Ethereum, can process smart contracts faster, reducing the impact of a significant roadblock for developers.

In other words, for now, a developer looking among the three blockchains for a more interoperable network would go for Ethereum although there are much better “solutions” out there.

The consensus algorithm to choose will affect other factors as well. Currently, Proof of Work is not regarded as energy efficient option for mining when you look at other options in PoS. EOS uses the BFT-DPoS consensus mechanism, which means it is Byzantine Fault Tolerance DPoS. DPoS is more energy efficient for billing rights.

Byzantine Fault Tolerance, which is used in EOS, improves block confirmation speed. With it, the verification does not verify the block content by the super node one by one in the order of the block, but let the block node become the master node. After the block, the remaining 20 nodes are broadcasted at the same time and verification feedback of the node is obtained. The block becomes irreversible if more than 2/3 of the nodes pass verification.  The blockchain can achieve a block speed of 0.5s with 1 s realizing irreversibility. EOS uses the WASM virtual machine and intends to offer support for other programming languages in future, in addition to C++.

EOS super nodes take turns to become masternode according to their geographical distribution, minimizing network delay between supernodes and stipulates that each super node continuously produces 6 blocks.  This makes sure it will avoid missing blocks due to excessive blockout speed. 

TRON uses Delegated Proof of Stake (DPoS) where 27 Super Representatives (SRs) produce blocks for the network. Every six hours, TRX account holders who freeze their accounts get to vote for a selection of candidates and the top 27 become the SRs. The basis for voting for SRs may include a variety of things such as based on project proposals that encourage adoption of the blockchain.

About governance, in Tron, only the block producers can propose and vote for changes to the network attributes. In comparison, EOS allows any token holder to propose and vote for changes to the network. The changes must then be implemented by 15/21 block producers. EOS allows token holders to delegate power to a proxy to vote on their behalf enabling a true liquid approval voting system.

Ethereum, which is still Proof of Work but planning to move onto a Proof of Stake model. With Ethereum, which does not use voting system like is the case with EOS, Dash or Tezos, designated developers implement the necessary improvements after the decision process.

But even after moving to PoS, Ethereum does not intend to have an on-chain governance model such as delegated proof of stake (DPoS). The latter tends to provide administrative responsibilities to those with higher amount of coins to stake hence a form of centralization. Those large entities with large amount of coins will have large block rewards than an individual user with an average amount of cryptocurrencies. The off-chain governance model on Ethereum is based on  Ethereum Improvement Proposals (EIPs) which are proposals that get voted off-chain and which are proposed by individuals through GitHub and considered by others after which they are discussed and deliberated on a large scale and voted for after which the passing ones get adopted.

Ethereum may be the most decentralized given its fast number of nodes and distribution, and most secure of the three but scalability is another thing, with PoS networks such as TRON and EOS providing more scalability than Ethereum. Transaction throughput or amount of transactions a blockchain can do in a second, as has been seen, is much higher in TRON and EOS. Therefore, for a developer who is looking for more scalable stuff, EOS and TRON may be the ones to go for although again as said Ethereum is moving to PoS.  

For most developers, the choice between decentralization and scalability, and indeed security, is a must consideration for now when choosing a platform on which to develop because it is hard to achieve all the three. In most cases, it is about a compromise of one for the other. But then again, it comes down to what it is you are developing and which blockchain is most suitable for the project.

Did we miss something in our article? Which platform are you using? Why? Let us know in the comment section…

Source: https://www.cryptomorrow.com/2020/03/02/which-one-to-choose-for-developing-dapps-ethereum-eos-or-tron/

Blockchain

PARSIQ Integrated Into Polkadot For Smart Triggers Across the Relay Chain

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[PRESS RELEASE – Tallinn, Estonia, 11th May 2021]

PARSIQ, a platform that monitors data and automation across blockchains, bridging both on and off-chain apps and sending out user alerts once transactions are executed, now offers compatibility for smart triggers with the Polkadot Relay Chain.

A smart trigger is effectively a smart contract that is deployed into the PARSIQ ecosystem. It allows triggers from external chains to be passed to off-chain systems. It collects data across a variety of chains in real-time and then constructs an indexed composition of actions in any one chain in the process of reverse-engineering. It can validate and process a huge amount of real-time data simultaneously via its distributed data management layer by utilizing chain-specific feature extraction.

Building a Bridge

PARSIQ shares the same ideology as Polkadot, which is to bridge data across a huge network of chains, leaving all chains completely equal to one another, where each chain has its own personal real-world uses and strengths. This is a model which builds strength from numbers and enhances usability by combining the entire group of chains into one strong network.

PARSIQ, rather than being a chain itself, is the bridge between the chains and between off-chain applications too. Developers can build their own smart triggers using PARSIQ. These smart triggers react to events, plus they are able to store and alter data and also to learn from the data as they grow.

The platform, in addition to monitoring data and creating alerts, can also be used to deploy bots, as well as for areas like monitoring AML, performing automated accounting, and more. Each developer’s data stream is completely unique with its own branding retaining as well as its pricing structure, even while it is growing and learning from the entire network.

PARSIQ is now integrated across all of the major blockchains, including Bitcoin, Ethereum, Binance Smart Chain, Solana, Celo, Dash, and Algorand, to give users a way to simplify the automation of all their processes and applications off-chain, on-chain, and even across Layer-2 chains.

About PARSIQ

PARSIQ’s smart triggers have far-reaching functionality, including monitoring transactions, assets are withdrawn from a user, sent to other users, transfers exceeding a pre-set level, and many more. Developers can use the PARSIQ platform to build their own smart triggers for data workflow automation, storage, and learning here:

https://portal.parsiq.net/signup

Examples of workflows include:

Alerts of DOT transactions as they happen

Bridging events in the Polkadot Relay Chain (as well as other chains) with a simple user interface

Monitor data flow and create advanced analytics from the data

Alerting to strong potential trades

Usage for traders, platforms, and market researchers to build strong, data-backed pictures of the markets.

About Polkadot

Created by one of Ethereum’s founders, Dr. Gavin Wood Polkadot’s goal is to take blockchains to a state closer to Web3, where all on-chain activity is shared across a variety of chains. It is an intersection capable of translating architecture into one heterogeneous language for customizing side chains to connect with public blockchains.

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Source: https://cryptopotato.com/parsiq-integrated-into-polkadot-for-smart-triggers-across-the-relay-chain/

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Blockchain

Raze Network Kicks Off Testnet Phase With UI Community Voting

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[PRESS RELEASE – Singapore, Singapore, 11th May 2021]

Raze Network, the first Polkadot-based privacy protocol, is bracing to engage community members with our first testnet. Early birds will be able to provide feedback on the quality, function, and overall experience of the Polkadot-based privacy protocol.

This huge milestone clears the way for ‘Razers’ and collaborators to easily test drive the newest features and allows plenty of maturation time for these new features to be fully tested.

Our team already started designing the user interface of the privacy protocol we promised to launch. However, we want to resort to the collective wisdom of our community on how to actually bring this to realization, thus launching this UI Community Voting Campaign.

The beta testnet marks the latest step forward in Raze Network’s overall mission to enable the broader community to contribute to the evolution of our trustless decentralized privacy protocol.

Raze Network’s applications present the decentralized finance (DeFi) community with a cross-chain middleware solution on Polkadot for concealing transactions when operating on decentralized exchanges.

With a clear vision and solid use-case, the protocol-based solution leverages the Polkadot ecosystem to offer the required privacy layer for the crypto sphere. The privateness protocol aims to guard anonymity for all the DeFi stack on the Polkadot.

To achieve higher participation during the testnet, Raze Network is organizing a number of events, competitions, and challenges to encourage participants to actively test critical components of our ecosystem. Specifically, we will airdrop 1,000 $RAZE tokens to 10 lucky voters based on how many entries they generated to vote for the best UI style.

$RAZE is set to be the lifeblood of the Raze Network, designed as a utility token to represent participation in the ecosystem.

The launch of Raze Network’s UI testnet comes on the heels of several other recent milestones, including a robust set of developer resources and partnerships that continues to expand.

Just in April, we announced the strategic listing of Raze token on the popular DeFi platform, Uniswap. This listing closely follows our completed triple IDO event on three launchpads.

Interestingly, apart from going live on DEX exchanges, $RAZE tokens will also soon be listed on several tier-1 centralized exchanges.

This networked testnet release allows Raze to continue working with our partners towards the mass adoption of decentralized applications and smart contracts.

Since its inception, Raze Network sought to develop an infrastructure that is easy to understand and smooth to navigate. One where even new users can reap the benefits of a cross-chain middleware solution for anonymous transactions, payments trading, and mining.

Although the token launch is done, the real work starts. Most recently, we have completed the development of mint, transfer, and redeem contracts in Solidity. Currently, we are testing how to deploy these contracts on EVM.

Also, the major front-end and client modules that can invoke the aforementioned contracts have been developed.

About Raze Network

Raze Network is a Substrate-based cross-chain privacy protocol for the Polkadot ecosystem. It is built as a native privacy layer that can provide end-to-end anonymity for the entire DeFi stack. The Raze Network applies zk-SNARKs to the Zether framework to build a second-layer decentralized anonymous module.

It will then be imported as a Substrate-based smart contract. The objective of Raze Network is to enable cross-chain privacy-preserving payment and trading systems while protecting the transparency of your assets and behaviors from surveillance.

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Source: https://cryptopotato.com/raze-network-kicks-off-testnet-phase-with-ui-community-voting/

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Blockchain

First Spot: Coinbase’s App Surpassed TikTok, Instagram, and Facebook on iOS in the US

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Coinbase’s mobile application has become the most popular app on iOS in the US. With its rise to the top, it has surpassed some highly utilized applications like TikTok, YouTube, Instagram, Facebook, and more.

Coinbase Tops US iOS Chart

According to data from SensorTower, the mobile application of the largest US crypto exchange has taken the first spot in terms of the most popular free apps on iOS in the country.

The app enabling users to buy, sell, or simply hold various digital assets has climbed with several spots in the past few weeks.

As of writing these lines, TikTok – the Chinese video-sharing social networking giant that saw the light of day in 2016 takes the second spot.

Further down the list is YouTube, followed by other social media giants like Instagram and Facebook. Interestingly, Robinhood’s app is not even in the top ten. The iOS application of the financial services company takes the 12th spot.


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It’s worth noting that the top 50 free iOS applications have two Coinbase representatives. The exchanges’ wallet app is the 46th most popular application, which places it ahead of Uber, Google Drive, and Microsoft Teams.

Coinbase’s Rise

Taking the aforementioned first spot only validates Coinbase’s popularity boost in the past year or so. The company took full advantage of the ongoing crypto bull market, which has seen prices exploding.

Consequently, the firm reported a massive increase in terms of user base, volume, and revenue in the first quarter of 2021.

These impressive results came shortly before Coinbase became a publicly traded company. As CryptoPotato reported in mid-April, the firm’s shares (COIN) launched on the giant US exchange – Nasdaq.

Although some of the early backers sold off their stocks and prices suffered in the month that followed, Coinbase only intensified its aggressive expansion. In the latest endeavor, the firm agreed to acquire Skew – the popular crypto analytics company.

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Source: https://cryptopotato.com/first-spot-coinbases-app-surpassed-tiktok-instagram-and-facebook-on-ios-in-the-us/

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