1) Transaction fee
- EOS.IO network transactions are free .
- TRON network combines bandwidth and energy, each multiplied with a fixed price before transactions can be made.
- ETHEREUM burns gas when executing transactions, the amount of gas you need to burn depends on the network congestion as well as the complexity of your contract.
(a.) Transaction per second(TPS)
- EOS.IO comfortably carries out 4000 transactions per second.
- TRON comfortably carries out 2000 transactions per second.
- ETHEREUM comfortably carries out 25 transactions per second.
(b.) Block Time : this is the average time required for the hashing power of a network in order to find a solution .
It is the time which the network takes to generate one extra block or the time taken from one Block to another.
- EOS.IO requires a maximum period of 3 seconds to generate a block.
- TRON requires 15 seconds to generate a block.
- ETHEREUM requires 10 – 20 seconds to generate a block.
(c.) Average Transactions Per Day
- EOS.IO comfortably carries out 4.3million transactions per day.
- TRON comfortably carries out 2.5million transactions per day.
- ETHEREUM comfortably carries out 600,000 transactions per day.
3) The three blockchain networks are used in smart contract and Dapps development.
They use different Consensus Mechanisms.
- Proof of Stake(PoS) : is a type of consensus algorithm by which a cryptocurrency blockchain network aims to achieve distributed consensus OR state that a person can mine or validate block transactions according to how many coins he or she holds.
- Delegated Proof of Stake(DPoS) : is a consensus algorithm developed to secure a blockchain by ensuring representation of transactions within it.
It is a more flexible, efficient and a democratic consensus protocol unlike the PoS consensus protocol.
- Proof of Work(PoW) : this algorithm is used to confirm transactions and produce new blocks to the chain in this case miners compete against each other to complete transactions on the network and get rewarded. This principle is a complicated mathematical puzzle.
EOS.IO and TRON use the “Delegated Proof of Work”(DPoS) algorithm while Ethereum uses the Proof of Work (PoS) algorithm.
“With this you can observe that EOS.IO is more efficient, faster, cheaper, to use than TRON and ETHEREUM, in other words. EOS.IO is a DApp friendly Blockchain.
SUMMARY USING A TABLE
|Transaction Fees||Free||Not free||Not free|
|Transactions Per Second||4000||2000||25|
|Average Transaction Per Day||4.3million||2.5million||600,000|
|Block Time||3 seconds||15 seconds||10 – 20 seconds|