Tron’s recent mainnet launch marked its official migration from the Ethereum blockchain. Following its partnership with BitTorrent, Tron’s new blockchain has achieved 2000 transactions per second (TPS).
Tron was able to reach speeds of 2000 TPS following its mainnet launch, according to a company blog post. Migrating completely off the Ethereum network, Tron is now boasting speeds 80 times that of its greatest competitor.
On July 27, 2018, Tron CEO Justin Sun boasted the potential of Tron’s $140 million acquisition of BitTorrent in a tweet and dubbed the company, “the world’s largest decentralized ecosystem.” BitTorrent is the owner and operator of popular torrent client µTorrent, which reportedly has over 100 million active users and runs up to 40% of the world’s internet traffic on a daily basis, according to its website. Earlier this month, Sun announced his campaign to run for one of 27 block producer positions on the Tron network and was elected the day following, garnering 120 million votes by TRON token holders in under 24 hours. Tron is able to exceed Ethereum’s maximum 25 TPS by using an adjusted delegated Proof-of-Stake (DPOS) consensus mechanism known as TPOS.
27 TRON “super representatives” are elected to make structure and governance decisions on behalf of the greater community. A TRON super representative acts as a key node on the Tron protocol – capable of validating transactions, creating new blocks on the network and competing for block rewards. On a blockchain-based operating system, a smaller number of nodes means quicker transaction confirmations and higher throughput.
Ethereum’s future Proof-of-Stake (PoS) consensus mechanism requires that more than 13,000 active Ethereum nodes verify each transaction before it’s confirmed – causing low TPS and a susceptibility to congestion. In light of these scalability issues, Ethereum is pursuing second-layer solutions, such as plasma and sharding. Read more from cryptoslate.com…
thumbnail courtesy of cryptoslate.com