After the chaos of demons in 2018, the industry has entered a cold winter, but it has gradually returned to rationality. After the baptism in 2018, the public chain competition has focused on ETH, EOS, and TRX. These three public chains are currently the mainstream public chains with the largest number of users in the world. Each of them claims to be the next-generation blockchain infrastructure. The first quarter of 2019 has passed, and their respective developments are also in full swing.
The third-party big data platform RatingToken and RatingDapp jointly conducted a multi-dimensional analysis of the performance of the three major public chains in the first quarter, helping everyone to understand the current situation of the public chain competition more intuitively and comprehensively.
1、DAPP
For the basic public chain, the development of DAPP ecology is a very important link. The development of DAPP and the development of the public chain are actually complementary: the public chain provides infrastructure for DAPP development, and DAPP can also test the development effect of the public chain in turn. In addition, for ordinary users, the most intuitive experience is DAPP, and they usually use DAPP experience to measure the quality of the public chain.
Therefore, the more active DAPPs on a public chain, the stronger the competitiveness of this public chain.
At present, the number of Dapps in the three major public chains are: ETH: 2406, EOS: 240, Tron: 235. The number of smart contracts in Ethereum is significantly more than that of EOS and Tron, which shows that Ethereum is more attractive to developers, but it is active. And the transaction situation is another scene:
From the figure above, we can see that EOS and Tron are significantly ahead of ETH by an order of magnitude in terms of the number of active users, transaction amount, and number of transactions. This is related to the high fee and slow transfer speed of Ethereum. EOS's 0 fee and fast transfer are very good experience for both developers and Dapp users. RatingToken analysts believe that this is the root cause of EOS' temporary lead.
However, if we go deep into the composition of the transaction data of the three chains, we will find that the health of the Dapp ecology of the three chains is very different. The following figure shows the classified statistics of the transaction volume of the three public chain DApps:
ETH：
EOS:
Tron:
It can be seen that the transaction data of EOS and Tron are dominated by quiz-type DAPPs. Although the development has shown explosive growth, due to the constraints of mainstream values and laws, there will be a big bottleneck in future development.
For example, the "Spinach" Dapp "Endless Games", which has long occupied the top of the Ratingdapp list, can contribute 40,000+ active users and 100,000+ transactions to EOS every day on average. EOS contributed nearly 50W+ transactions.
In summary
In summary
In terms of DAPP performance, EOS is temporarily leading followed by Tron, but their DAPP composition is not healthy, while Ethereum is temporarily lagging behind. The root cause is high handling fees and slow transfer speed. The Ethereum team has clearly realized this problem. And in the improvement plan of EIP, the plan of free user fees was submitted. If the development of Ethereum 2.0 goes well in the future, and with the approval of a large number of developers, Ethereum is likely to catch up in the third and fourth quarters. Of course, everything in the future is unknown, and it is possible that EOS and Tron may use their existing first-mover advantages to launch more Dapps that are accepted by mainstream values and continue to lead ETH.
2. Secondary market performance:
The performance of public chain Token in the secondary market is the most intuitive and basic data, including Token price, circulation, total amount, current market value, online trading platform, trading pairs, transaction amount in the past 24 hours, etc., I believe Everyone in the industry knows the numbers.
These data are available in many public channels, I believe everyone already knows, and will not repeat them in this analysis.
We focus on the index of "30-day daily return volatility" of the three major public chain Tokens from the beginning of this year to the present. The reason why we choose this index as the comparison object is that the three Tokens have different issuance quantities, time, and strategies. In the same way, the "30-day daily return volatility" can comprehensively reflect the recent Token market performance, user returns, etc.
Generally speaking, from the beginning of the year to the present, the Token prices of the three major public chains have increased; the overall income of holding EOS is higher than that of ETH and TRX; and the price volatility of TRX is relatively large.
3. Technical strength:
Generally speaking, the early stage of a new technology requires technology to play the leading role. From the current point of view, the public chain itself still has many problems, such as low performance that makes it unable to support large-scale applications, and cannot provide real random services on the chain. , The application development threshold is too high, etc. All these problems require developers to use creative technical solutions to solve them.
The strength of the developers of the public chain largely represents the competitiveness of the public chain. We will sort out their technical strength through the public speeches of the three public chains and the content of the technical weekly report.
In terms of Ethereum, it is expected that by the end of this year, the "quiet" version known as Ethereum 2.0 will be available. Vitalik introduced the technical features of Ethereum 2.0 as early as last year's Devcon4 keynote speech. These features include Proof of Stake (POS) Algorithms, Casper; scalability, sharding; virtual machine upgrades, EWASM; enhancements on cross-chain contracts; protocol economic model improvements; and many improvements that contribute to the decentralization of the logical layer.
At that time, the block generation efficiency of Ethereum will increase exponentially. According to the official statement, it will reach at least the order of 100,000 TPS.
Compared with Ethereum, EOS has been positioned as an enterprise-level distributed application from the very beginning. The core selling points are naturally its high-performance processing capabilities, easy development, and free users. It was once dubbed "Blockchain 3.0" by the media. title.
The vision belongs to the vision. The current maximum TPS of a super node of EOS is about 4000, which is far from the "million TPS" in the white paper. EOS developers and super node operators are constantly optimizing the physical structure and algorithm itself. In addition, the planning on the second edition of the EOS white paper is also in progress, including the implemented DPoS+ Byzantine fault-tolerant algorithm, DApp custom database; and cross-chain compatibility under development, in-memory database, parallel transactions, etc.
Finally, let’s look at Tron. Although Tron’s technological innovation was once criticized, it has reserved a certain amount of developer resources through the acquisition of BT and a large-scale developer incentive plan, and its strength should not be underestimated. Judging from the official weekly report, Tron's key plan for this year will be the anonymous development of side chains and wallets. In addition, if there are any creative technological breakthroughs in the industry, I believe it will follow up as soon as possible.
According to the data on GitHub, the number of submissions is ETH: 140M, EOS: 978K, and Tron: 429K.
In general, so far, Ethereum is temporarily leading in technical strength, followed by EOS, and finally Tron. Of course, if a basic public chain wants to succeed, it cannot rely solely on technological innovation, but also relies on the team, ecology, as well as the funds and users in its hands.
4. Active community:
According to the "community activity" index of RatingToken, the current scores of ETH, EOS, and TRX are 4.6 points, 4.8 points, and 5 points respectively. I believe everyone will not be surprised by TRX's "full score" performance. The founder of TRX, Justin Sun, has more than 1 million Twitter fans, 1.1 million Weibo fans, and more than 1 million Facebook fans of the Tron Foundation. 1000000. It can be said that Tron is the public chain that is best at marketing among the three.
5、Grants：
The support plan of the Ethereum Foundation started in early 2018, and it has now reached its fifth round. From the official blog, we can see that this year's Ethereum incentive plan focuses on Layer 2 projects, which is in line with their overall expansion goals this year. fit. But recently, a small crisis erupted in the community about incentives. Community members questioned the opacity of the use of funds by the Ethereum Foundation. The official response stated that the reason for choosing opacity is to avoid comparisons between different projects. I hope the Ethereum Foundation can handle this incident well.
Different from Ethereum, EOS has established EOSVC, and the scope of investment is relatively wide. It not only supports investment in projects related to the EOS ecology, but also focuses on cutting-edge and leading technologies. Compared with Ethereum, which only focuses on Layer 2, The scope will be wider. According to the official website, the overall investment amount is US$1 billion. The current investment directions include decentralized incentives, games, KYC services, etc. In addition, EOS has also held hackathon competitions around the world. At present, the fifth competition has come to an end, with a total prize money of more than 1.5 million US dollars.
Different from the former two, the Tron Foundation’s incentive actions are mainly focused on Dapp developers and users, such as the 100 million yuan in the "biggest activity in the currency circle" in March, and the 20 million US dollars after the cooperation with USDT Airdrop activities, there are 3 earlier BTT airdrop plans.
6. Public chain security
In the past quarter, EOS can be described as the hardest-hit area, with a total of 21 major security incidents. Most of the attacks were "spinach" games, and a large part was related to random numbers. Tron has also been attacked for the first time recently, and the vulnerability is also a random number problem. The security incidents of ETH are relatively few, mainly because Ethereum is relatively mature, and the overall Dapp activity is relatively backward, the cost of hacking is high, but the benefits are limited.
The random number problem suffered by EOS and Tron is currently difficult to find an effective solution, and the guessing games of EOS and Tron account for a large proportion, which may have a certain impact on the future development trend.
7. Founder
The stories between the founders of the three major public chains often attract crowds of people who eat melons. These three founders are all people with very distinctive personalities, especially V God and Sun Yuchen. Also very often. On April Fool's Day not long ago, God V also posted a photo with the background board of TRON with the text "Toward a brighter tomorrow".
In fact, the conflict between the two has a long history. As early as March last year, when the TRON testnet was launched, Justin Sun took the initiative to "touch porcelain" Ethereum, and listed 7 things that TRON is better than Ethereum on Twitter. reason.
V God immediately left a message under this tweet. On top of these 7 items, an 8th item should be added: Ctrl+C and Ctrl+V are more efficient than typing new content on the keyboard.
Summarize
Summarize
For the public chain, in order to win in the fiercely competitive environment, not only technological innovation is required, but also investment in capital, marketing and other aspects. After comparing the above dimensions, we can intuitively feel that EOS currently relies on its Mechanism 0 fee and relatively efficient performance, temporarily leading the DAPP ecosystem, Tron also has a place with its strong marketing capabilities. But at present, ETH is not so easy to be replaced. The development of ETH2.0 in Q4 is completed. Let us look forward to whether it can return to the king. The public chain project still has a long way to go, and it is still unknown who will win the battle.
