The notion of "Ethereum Killers" has been around the cryptosphere for months now. The constant complaints that the users of Ethereum have had on the price of gas and the speed of the network have pushed this idea to emerge, and no one doubts that the intelligent domain of contracts held by Ethereum since it arrived live is about to end. But from whom?
Yoav Vilner, a blogger blockchain, based in New York and Tel Aviv, who is also a startup mentor for Microsoft and Google "accelerator", wrote a piece for Forbes in which he stated that Qtum and Tron would take control of Ethereum once and for all.
Qtum and Tron against Ethereum
Mr. Vilner has had good things to say about Qtum's hybrid distributed register technology; he called it "the next phase of the blockchain". The Qtum project includes a new virtual machine, based on the x86 technology, which has been released recently.
It offers a better "value proposition" than Ethereum. Because this VM is x86 instead of the normal VM in the crypto community (which is usually based on a single language or technology), the new machine opens up a new world of possibilities because it allows you to develop apps in a wider range of programming languages than they still work on a blockchain.
Think for a moment what this means. It is no longer necessary to learn a specialized programming language to enter the blockchain world. With this VM you can use your knowledge on Perl, Python, Ruby or even Pascal or Basic to create decentralized apps and contracts.
Tron has similar characteristics. Its platform does not allow a wide range of programming languages, but it works in Java, which is, perhaps, the only language that knows every competent programmer, so as to make it versatile and easy to use.
Ethereum does not have any of these advantages. The development of contracts or applications on Ethereum requires the learning of "Solidity", which is the programming language of the platform, and most programmers in the world have never even heard of it.
Mr. Vilner also stressed the greater efficiency of Qtum. Qtum uses a technology called SegWit (segregated witness) that separates transaction signature data from other data such as actual transactions. This makes everything faster and saves energy.
Another point in favor of Qtum is its ability to use the lighting network, which is a further layer in blockchain technology (initially developed for Bitcoin) that allows faster transaction speeds. Then there is QtumX that will be launched next year, according to Mr. Vilner.
What is QtumX, do we hear you ask? It is the intelligent project contract platform for industrial users such as large companies. In the words of the project blog, this platform will have "stability and could greatly increase the efficiency of the exchange and at the same time guarantee the security of the network".
But the new platform has not been implemented, and has not yet been fully tested. So, at present, no one can imagine if it will really be better than Ethereum or Bitcoin.
Vilner (who also contributed to CNBC) also wrote that Tron (founded and driven by the provocative Justin Sun) would change the way content producers and consumers interact and translate on the web by decentralizing the Internet.
Centralization in Tron
Vilner also reported on the acquisition of BitTorrent by Tron, the largest P2P network on the Internet. BitTorrent is becoming part of Tron's blockchain through Project Atlas. The new torrent network will offer incentives to share files, in the form of Tronix tokens, and this will help Tron become "one of the world's largest decentralized networks".
But a closer look at Tron's governance model reveals that the network will be dominated by 27 block producers, which will be the nodes that validate transactions and create new blocks. These nodes will be the engine of Tron's blockchain, but some observers consider the 27 as a small number of nodes and seems too much like a centralized network.
Here at GlobalCoinReport, we have closely followed the development of Tron, EOS, Cardano and many other cryptocurrency projects. EOS has a similar model; has 21 block producers, selected by the community.
This was quite controversial as these block makers were accused of "collusion". This smell of centralization in a network that swears by decentralization and democracy. The same could happen to Tron.
Mr. Vilner is picky? Could be. Keep in mind that 80% of Bitcoin nodes are in China and no one complains about centralization for Bitcoin (well, Ripple is, but this is another story that you can read in GlobalCoinReport).
For the time being, both Tron and Qtum are very interesting projects that could make blockchain technology useful and profitable for those who soon get a piece of the action. You could be one of them.
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Disclaimer: this article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
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