TRON (TRX) Closes in on EOS as Second Fastest Network
Blocktivity data show TRON lined up among the most active blockchains, outcompeting both Bitcoin (BTC) and previous leading networks.
TRON (TRX)climbed to the second spot on Blocktivity, displacing previous leaders. EOS is now the leading network, with an absolute record of 87 million transactions in 24 hours. Based on reported data, TRON carried more than 2.15 million transactions in the past day, and a peak of 5.3 million transactions.
Curiously, WAX, which previously saw more than 5 million transactions per day, has fallen out to around 300,000 transactions.
At the top of the ranks, the networks have one thing in common - sending out transactions is free, and blocks are produced by delegates, created and verified faster. This has raised concerns that two block producers could agree to send a limitless number of transactions between each other, inflating the final results.
KIN, the network by Kik, is just behind TRON with 1.9 million transactions per day. For those networks, transactions are also formed by distributed apps (dApps), not only financial transactions.
But right behind those new networks, Bitcoin (BTC) is also showing a peak in transactions, with more than 980,000 total transactions (including unspent output returns), or more than 400,000 net transactions in the past day. The rise in BTC activity follows the improved market conditions, and the recent speculative spike of BTC to above $12,000.
Transaction counts are still seen as a potential measurement of real-world adoption. Still, the exact reporting mechanism is unclear, and many networks are still showing discrepancies in distributed app activity. Some promising blockchains also reveal a near-zero transaction count, and are not even listed on Blocktivity, as in the case of Tezos (XTZ) and Cardano (ADA).
Ethereum (ETH) keeps up the pace with the usual level of transactions, around 800,000 in 24 hours.
Anonymous coins are showing a relatively slow adoption. Monero (XMR) carries around 6,000 transactions per day, with a peak around 16,000 transactions. ZCash (ZEC) sees similar levels of activity.
For most coins, activity is usually concentrated on exchanges, and in 2019, the fastest networks are usually relying on delegates and a limited number of nodes to produce blocks.