Crypto Academy Week 9 Homework Post for Crypto-Prof. @alphafx on the topic: Blockchain and Platforms. Written by @chinma


For this home work given by Crypto Prof @alphafx, I will be doing a detailed comparison between our very own STEEM and TRON.
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Indices for Comparison STEEM TRON
Reason for creation As a reward for content creation To eliminate middle men/charges between content creators and end users.
Currency Has three different currencies viz Steem, Steem Power and SteemBacked Dollars Has only one-Tronix
Speed Steem has a speed of 10,000 or more transactions per second Tron has about 2000 transactions per second
Market Ranking 141 18
Key Structure Hierarchical key structure No hierarchy in key structure
Security Has been prone to hacking Highly secured
Affiliation with Stable Coins Affiliated with SBD affiliated with USDT
Exchanges decentralized decentralized
Consensus Algorithm Delegated Proof of Stake Delegated Proof of Stake
Wallet Does not own personal wallet or card Has its own TRON card which also doubles as a wallet.

Detailed Explanation

  1. Reason for Creation: Steem was created as a social media platform like Facebook where users create content and get rewards by upvoting the posts and through curation rewards.
    Tron was created to eliminate middlemen between content creators and end users. Take for instance, a movie is made. Instead of a third party taking subscriptions from interested viewers, with Tron, it's just between the creator of the content and the end user.
  2. Currency: Steem has three different currencies viz: Steem, Steempower and Steem backed dollars.
    TRON has only one currency, Tronix.
  3. Speed: Steem can process about 10,000 or more transactions per second.
    Tron processes about 2000 transactions per second.
  4. Market Ranking: Steem ranks number 141 according to coinmarketcap.com
    Screenshot_20210418-024822.png

Tron ranks an impressive number 18.
Screenshot_20210418-024650.png

  1. Key Structure: Steem has a hierarchical private key Structure. It has different keys to allow for low security like posting of content on the steemit blockchain or commenting and high level of security for transactions such as transfer of funds or key change.
    Tron does not boast of such key Structure.
  2. Security: Tron is highly secured and prioritizes security. To show it's priority for security, it hired Jorge Guo a highly demanded security engineer who has worked has worked for World Wide Web (WWW).
    Steem though has its security in place has been prone to hacking.
  3. Affiliation with Stable coins: Tron has been described to be the second largest stable coin network. It supports USD tether (USDT) the number one stable coin as a TRC-20 token asset.
    Steem is linked to Steem backed dollars(SBD) a stable coin that is not among the first 20 well known stable coins. The SBD is supposed to be 1 SBD equalling 1USD but as at today according to coinmarketcap.com, 1SBD is pegged as $9.49.
  4. Exchanges: Both Steem and Tron run on decentralized exchanges and so users can trade their steem, SBD and Tron through a public decentralized peer-to-peer market.
  5. Consensus algorithm: Both Steem and Tron run on the delegated proof of stake (DPoS). This means that there are witnesses or representatives that validates transactions and propose the next block. While steem has 21 elected witnesses and able to generate a new block every 3secs, Tron has 27 super representatives that change on a periodic basis and are rotated on a 6hour basis.
  6. Wallet: Tron has its own card which is a secure digital wallet hosted on the TRON network. It is also a payment processor connected directly to the TRON blockchain.
    Steem does not boast of its own card.

References
coinmarketcap.com

research.binance.com

investopedia.com

blockchain-council.org

I am a member of steemalive and this is my introductory post

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Comments 2


Scoring
Aspect
score Remark
Structural presentation 1 adequately presented
Adherence to instruction 1.5 all rules followed
Quality of content 4 Nice work.
Originality 1.5 post is not plagiarized, nice job
TOTAL 8 well done.

Thanks for participating

19.04.2021 00:32
0

Thank you Prof.

19.04.2021 00:54
0