In a tweet just yesterday, August 8, Justin Sun noted that the amount of daily transactions on the Tron network (TRX) just released was 128.438. He would continue to mention the daily transactions on the Ethereum (ETH) network as 636.342 on the same day. His conclusion was that the Tron network had 1 month of life, it was en route to overcome Ethereum – which has 3 years of work – in terms of how many daily transactions it manages. The complete tweet can be found below:
– Justin Sun (@justinsuntron) 8 August 2018
Further investigation of Justin's numbers on Tron Scan, we discover that daily transactions on the Tron network have increased to 215.811 since the tweet. This is a percentage increase of 68% in less than 24 hours. The total number of accounts also went from 147.623 in Justin screens to the current 157.777: a 6.87% percentage increase in less than a day. (Screenshot from Tronscan can be found below).
By checking the volume of Ethereum's EtherScan transactions, we find that daily transactions on the Ethereum network fell from yesterday's levels of 636.342 to current levels of 565.663. This is a percentage drop of 12.5% in 24 hours. (Screenshot from Etherscan can be found below).
By doing the math, and if the volume of Tron's daily transactions continues to increase by 68% on a daily basis, it will only take 2 days for daily network transactions to exceed those of Ethereum. Using a conservative percentage increase of 10% per day, the Tron network will take approximately 10 days for its daily transaction volume to exceed that of Ethereum.
This is however expected since the Tron network was designed to handle 2,000 transactions per second. This means that it is able to handle a maximum of 172,800,000 transactions per day at full capacity. In the case of Ethereum with a maximum of 25 Transactions per second, its network can handle only 2,160,000 transactions per day at full capacity.
In conclusion, Tron is proving to be a faster and more efficient platform than the Ethereum platform. This has proven to be true with the speed with which daily transactions on the Tron network are close to exceeding those of the Ethereum network. It is only a matter of time before his daily transactions exceed those of Eth.
Disclaimer: This article is not intended to give financial advice. Any opinion here should be taken as well as it is. Perform your research before investing in one of the many cryptocurrencies available.