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Will Ethereum (ETH) Survive the TRON and EOS MainNet Onslaught?

Published

3 years ago

on

Ethereum

The last week has been an eventful one for the crypto-verse and crypto-community. Two major and highly anticipated MainNet networks were launched in a span of fewer than 3 days. First was the Tron (TRX) MainNet that was launched on the 31st of May. Then EOS (EOS) stole the headlines with double-digit gains of the token ahead of the MainNet launch that happened on the 2nd of June. Both projects have been hailed as possible Ethereum Killers and the next generation of smart contract platforms with higher transactions per second and other better features.

Will Ethereum (ETH) survive the onslaught of these two MainNets?

For now, Ethereum can be considered as being safe from any threats of Tron or EOS Mainnets taking over as the preferred platforms for Decentralized Applications and smart contracts. Ethereum has already created a foundation for dominance.

How will Ethereum (ETH) still thrive amongst the competition?

To begin with, Ethereum (ETH) is time-tested and has weathered the storm that was security vulnerabilities discovered earlier on in the year as well as the constant FUD with respect to low transactions per second. Yes, the ETH network does get congested due to DApps about animals and kitties, but there is no other stable platform out there that have been tested such as Ethereum. Also to note is the current conversation of introducing sharding on the ETH network. When this concept materializes, ETH will obliterate any competition.

EOS on the other hand recently had a very serious security issue right before the MainNet launch that left many speculating if the MainNet would launch. What was found on the EOS platform, was a vulnerability where a malicious hacker would create and execute a smart contract that would technically hijack the nodes to cause a full-blown cyber attack on other crypto networks. This issue has since been resolved but questions still linger.

When we analyze the current Tron project, the foundation has implemented a $10 Million Bug Bounty program to any developer or team of developers that can find any security vulnerabilities before the 24th of June this year. Also to note is the presence of a Tron hackathon in the Tron Project Genesis calendar to further test the Odyssey MainNet for vulnerabilities. This means the MainNet still has a long way to go in terms of gaining trust from DApp developers and showing network stability.

With respect to market dominance, Ethereum (ETH) is firmly in the number 2 position behind Bitcoin (BTC) and according to market capitalization. As a matter of fact, many Crypto analysts have predicted that ETH will flippen Bitcoin before the end of the year. This means that even crypto-traders still find favor with ETH when it comes to the crypto-markets.

In summary, both TRON and EOS MainNet platforms are a welcome addition to the crypto-verse platform arena. However, they have a long way to go for them to be considered as potential Ethereum Killers with respect to being platforms of choice and general popularity. ETH is also eons ahead when you consider its market presence with respect to both TRX and EOS.

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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 thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

DeFi Wizard Raises $750k from Blockchain Investment Bigshots, to Simplify Multi-chain DeFi Legos

Published

21 hours ago

on

February 24, 2021

By

Bengaluru,, India, 24th February, 2021, // ChainWire //

In order to give shape to their ‘one-click DeFi contracts creation’ dream, Defi Wizard has raised a total of $750,000 from X21 Digital, AU21 Capital, Amsterdam-based TRG Capital, DeltaHub Capital, NGC Ventures, and ExNetwork.

Speaking on latest development Defi wizard founder and CEO, Anand Kamath said: 

“It gives us immense pleasure to announce that our platform, DeFi Wizard has attracted the attention of leading blockchain investors and funds.”

DeFi Wizard aims to help cryptocurrency companies and businesses seamlessly create digital assets, without any hassles, with the objective of becoming an all-in-one token creation platform. 

Investment Usage

This recently concluded fundraising round is an important milestone for Defi Wizard. It will fuel the development of the platform along with operations/maintenance.

Other ways in which Defi wizard will receive assistance is with liquidity bootstrapping for Uniswap listing, alongwith added global and regional promotional efforts to generate awareness for the platform. 

About Defi Wizard

Defi wizard is a dashboard for building DeFi (decentralized finance) smart contracts with a few clicks. It offers real-time programmer analytics and allows users to create smart contracts for ERC20 / BEP20 / EDST, staking, yield farming, governance, cross-chain bridge, gasless relayer baked in.

As per the latest statistics, more than five projects are already using DeFi Wizard’s staking services and more than $100M AUM has been locked through the smart contracts generated through the…

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Altcoins

99Bitcoins takes over the “Dead Coins” project to become the cryptocurrency undertaker

Published

1 week ago

on

February 17, 2021

By

Singapore, Singapore, 17th February, 2021, // ChainWire //

99Bitcoins, an educational website that maintains a list of Bitcoin obituaries made by the media, has taken over the Dead Coins project as well. This move effectively crowns 99Bitcoins as “The undertaker of the cryptoverse”.

Deadcoins.com was established in late 2017 to document the death of thousands of altcoins that popped up during the cryptocurrency mania of that time. The idea was simple – create a list of coins that have ceased to exist after the hype died down.

A coin can become “dead” due to a variety of reasons such as its development being halted, having no one that uses or trades it, being exposed as a scam and more. While the project was initially maintained only by its founders, it was later outsourced to the cryptocurrency community which was allowed to add their own dead coins.

“I think the dead coins project is a brilliant idea that needs a bit of polishing” says Ofir Beigel, owner and founder of 99Bitcoins. “The fact that anyone can add a dead coin themselves made the list of coins very inaccurate. We’ve spent days going through the complete list and sifted out all of the coins that were buried alive, so to speak. For example, Bitcoin, Tron, Dogecoin and Tether are just some of the coins that were listed when we took…

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Altcoins

99Bitcoins takes over the “Dead Coins” project to become the cryptocurrency undertaker

Published

1 week ago

on

February 17, 2021

By

Singapore, Singapore, 17th February, 2021, // ChainWire //

99Bitcoins, an educational website that maintains a list of Bitcoin obituaries made by the media, has taken over the Dead Coins project as well. This move effectively crowns 99Bitcoins as “The undertaker of the cryptoverse”.

Deadcoins.com was established in late 2017 to document the death of thousands of altcoins that popped up during the cryptocurrency mania of that time. The idea was simple – create a list of coins that have ceased to exist after the hype died down.

A coin can become “dead” due to a variety of reasons such as its development being halted, having no one that uses or trades it, being exposed as a scam and more. While the project was initially maintained only by its founders, it was later outsourced to the cryptocurrency community which was allowed to add their own dead coins.

“I think the dead coins project is a brilliant idea that needs a bit of polishing” says Ofir Beigel, owner and founder of 99Bitcoins. “The fact that anyone can add a dead coin themselves made the list of coins very inaccurate. We’ve spent days going through the complete list and sifted out all of the coins that were buried alive, so to speak. For example, Bitcoin, Tron, Dogecoin and Tether are just some of the coins that were listed when we took…

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