The world of the altcoins has been full of activity in the last few days. Well, while the Bitcoin market has now stabilized around $10,000 for about a month. Two of the world’s main cryptosystems, Tron and Ethereum, are preparing the launch of their new versions, Tron 4.0 and ETH 2.0. Therefore, today we wonder if EOS can continue to compete with Tron and ETH after their updates.
Competition between Tron and Ethereum
It is difficult to find a market as competitive as that of cryptomonies in the whole world. Because there is no regulatory institution that can intervene in it. At the end of the day the competition between the companies and currencies that inhabit this market is wild. Only those who have the best performance survive.
And an exemplary case of this competition is Ethereum and Tron. Two crypto-currencies that came into the world to provide possibilities that Bitcoin doesn’t have. Bringing Blockchain technology to more people and organizations, simply and quickly. A mission they would also share with EOS.
Thus, with the launch of Ethereum by Vitalik Buterin, smart contracts and decentralized applications started to be part of the day-to-day life of the crypt world. With practically anyone on the planet with enough technical knowledge, being able to create their own tokens based on ETH, and design applications and contracts in their Blockchain.
But soon Ethereum met his competition: Tron, the crypto businessman Justin Sun. Which, although it began as practically a copy of Ethereum, has evolved to offer other capabilities, which according to Sun, would make it stronger than Buterin’s currency.
Can EOS still compete?
And in the middle of this panorama is EOS, a cryptomonnage that also aims to offer a platform for the creation of decentralized applications. Being therefore the direct competition of Ethereum and Tron. But, unfortunately, amidst the innovative frenzy of its two main competitors, it has not been able to offer the crypto community a similar proposal to improve its capabilities.
This despite the fact that it remains, according to CoinMarketCap data, the ninth largest currency in the world by market capitalization. A position that, however, is not reflected in the activity statistics within its Blockchain.
When we look at the figures for the 15 crypto-currencies with the largest number of unique addresses active between May and June, we see that Ethereum and Tron are in second and third place. While EOS does not even appear in the CryptoDiffer ranking.
This despite the fact that even Vitalik Buterin has stated on several occasions that, unlike his impressions of Tron, he has great respect for the work of EOS. And he hopes that if any kryptonie beats Ethereum in the decentralized applications sector, it will be EOS and not Justin Sun’s currency.
However, when both his and Justin Sun’s currencies are boiling in activity prior to the release of their new versions. While Bitcoin Circuit remains silent about possible updates to your system. It seems unlikely that the cryptomoney will be able to compete with Tron and Ethereum for much longer. So, without a radical transformation in the medium term, it will probably end up doomed to oblivion. This being our Tip of the Day here at Crypt Trend.