Monday, November 18, 2021

Udi Wertheimer: TRON Will Soon Overpower Ethereum

Bitcoin developer Udi Wertheimer says that TRON is about overtake Ethereum as the number two cryptocurrency by market cap.

Tron: Outdoing Ethereum?

In a Twitter message, Wertheimer says that while the currency won’t necessarily outdo Ethereum in price, it will soon become a far more popular blockchain for companies or individuals looking to produce decentralized applications (dApps). He’s also confident this will all happen within a year.

In a tweet, he explains:

Watching Justin Sun TRON discussing TRON + Poloniex. Tron is so going to flippen Ethereum in the next year or so, it’s not even funny. All of the DeFi bois don’t realize it yet, but they’re going to work for Justin when he acquires ConsenSys.

As time goes by, the circumstances of cryptocurrencies and the technologies that power them tend to get old. Thus, they can be easily outdone by the technology of newer and/or rival coins. Bitcoin is the perfect example. As the space’s number one cryptocurrency by market cap, the digital coin has been around since 2008 and is still widely used as a speculative tool. Some refuse to devote their time to smaller altcoins but are willing to invest in BTC simply because of its size and time in the market.

However, as bitcoin has aged, it is sometimes outdone by the technology of other rival cryptocurrencies. For example, Ethereum and EOS are widely known for speedy payments, often completing transactions within the space of a few hours or even a few minutes. With bitcoin, however, transactions can typically take a few days to complete. The creation of new platforms such as the Lightning Network are looking to ease some of the problems associated with these slow transfers.

Ethereum brought a lot to the table in terms of quick transactions, new tokens and dApps, but even Ethereum is beginning to suffer as of late. In a recent interview, co-founder Vitalik Buterin commented that the Ethereum blockchain is no longer scalable due to the saturation it’s experiencing. The network is so congested with new tokens and applications that the blockchain moves very slowly, resulting in delayed transaction times and high gas fees.

Some Things Need A Little “Push”

The company is now considering a move to a proof-of-stake (PoS) module - known as Ethereum 2.0 - as a means of mitigating a lot of these problems. For bitcoin, the solution is the Lightning Network. For Ethereum, here comes 2.0.

The fact is, however, that TRON is still “young enough” to not need all these bolsters to its network in order to outdo its predecessors, according to Wertheimer. At the same time, Ethereum still has a lot of loyal followers, many of whom took to Twitter to talk down his recent comments. Many have said that TRON has a shady reputation, which gives it a “false” advantage over Ethereum.

The post Udi Wertheimer: TRON Will Soon Overpower Ethereum appeared first on Live Bitcoin News.

Udi Wertheimer: TRON Will Soon Overpower Ethereum