Smart contracts, as the name suggests, are self-executing contracts. They perform specific functions based on pre-programmed conditions. They were first introduced in Ethereum as a way to automate specific transactions.
They have since been adopted by many newer blockchain networks, including TRON. TRON, however, has the added advantage of being way faster while solving similar problems. However, it is less secure. Is there a clear winner?
Overview of the TRON Smart Contract Platform
The TRON ecosystem started as an ERC-20 token Ethereum Network in 2017 before moving to its own blockchain in 2018.
Known for scalability, flexibility and a high number of transactions per second, the TRON smart contract platform is great for builders as it allows for the use of high-level languages to develop and maintain smart contracts.
Overview of the Ethereum Smart Contract Platform
The concept of programs running on the blockchain in the form of smart contracts was first introduced in the Ethereum network. These smart contracts are present as an Ethereum account and are not controlled by individuals but by a set of pre-programmed instructions. Various Ethereum smart contract functions are triggered when specific conditions are met.
Ethereum smart contracts are self-executing and written in Solidity, which is very similar to Javascript. This high-level Solidity code is then compiled into low-level byte code, which is, in turn, fed to the Ethereum Virtual Machine (EVM) for execution on the blockchain.
TRON vs Ethereum Smart Contract Platforms
For a more in-depth comparison between the TRON and Ethereum smart contract platforms, each component would have to be compared side-by-side.
Consensus Mechanisms
Unlike Bitcoin’s Proof-of-Work (PoW) model, which made mining and transactions on the network energy-intensive, Ethereum uses the Proof-of-Stake (PoS) consensus mechanism, while TRON uses the Delegated Proof-of-Stake (DPoS) mechanism.
Ethereum’s Proof-of-Stake model works by randomly selecting holders of up to 32ETH to become validators in the network. This allows them to create blocks, confirm transactions, and earn block rewards.
Similarly, the Delegated Proof-of-Stake mechanism used by TRON lets holders stake TRON to become validators. However, not everyone can become a TRON validator. The role is reserved for 27 holders or representatives who get the most votes from the TRON community.
Having a limited number of validators may make the system seem less decentralised, but it contributes to the speed of transactions and overall efficiency of the TRON ecosystem.
Transactions per Second (TPS)
The differences in consensus mechanisms and system architecture lead to different maximum transaction numbers per second on each of the two networks.
Theoretically, the TRON smart contract platform can support up to 2000 transactions per second and is known to be the fastest blockchain network, followed by Solana. Ethereum has a maximum theoretical transaction per second of 119TPS. However, the maximum TPS ever recorded for TRON was 272TPS and 62.34TPS for Ethereum.
Transaction Fees
On most blockchain networks, transaction fees are determined by the level of network congestion, which is, in turn, affected by the speed of transactions and action complexity.
TRON fees are extremely cheap, usually costing a few cents for basic transactions and smart contract interactions. Some transactions, like sending TRON tokens, can even be completely free of fees if the sender freezes enough TRX.
On the other hand, Ethereum uses a gas fee model which is usually determined by the smart contract function complexity. Transactions here can get expensive, especially during periods of network congestion. Transaction fees on Ethereum can cost anywhere from $2 to $100.
The introduction of Layer 2s helps to curb this, but the base Ethereum layer still experiences occasional network congestion.
Virtual Machines
Both TRON and Ethereum make use of virtual machines to execute their smart contracts in a trustless and decentralized fashion.
The Ethereum Virtual Machine (EVM) compiles bytecode from the Ethereum smart contracts written in solidity or vyper and then reads from or writes directly to the Ethereum state. The EVM runs on each node, making sure the smart contract execution process is decentralised and resistant to censorship.
TRON’s version, the TRON Virtual Machine (TVM), operates similarly to the EVM. It is a runtime environment that executes TRON smart contracts and writes to the TRON state. Each separate TRON node also runs a TVM instance. However, instead of a gas fee system, the TVM makes use of an energy-based system that, together with the DPoS consensus mechanism, makes transactions much faster than Ethereum’s.
Developer Ecosystem, Tools and Libraries
Developer ecosystem, support and tooling are big deals when it comes down to which ecosystem smart contract developers prefer to build their decentralised apps on.
While the TRON network is faster and more scalable, Ethereum still boasts a larger developer community and more advanced tooling.
TRON has adopted many of the tools and libraries used in Ethereum development to make the switch to the TRON ecosystem seamless for developers.
Solidity is the primary high-level smart contract language for both Ethereum and TRON. Some libraries used in smart contract development are Hardhat, Truffle, Ganache, web3js and ethersjs .
Frequently Asked Questions (FAQs) About TRON and Ethereum Smart Contract Platforms
How do you create and deploy an Ethereum smart contract?
The basic steps involved in creating and deploying an Ethereum smart contract include:
- Write the smart contract in a development environment (like Remix).
- Compile the smart contract into bytecode.
- Set up an Ethereum wallet to deploy from (like metamask).
- Choose a network to deploy on (the mainnet or a testnet).
- Make sure there’s enough gas in your ETH wallet for the deploy transaction.
- Click Deploy.
Is Ethereum more secure than TRON?
In terms of resistance to censorship and degree of decentralisation, Ethereum is more secure than TRON. This is because TRON’s consensus model lets only 27 validators handle transaction confirmation, which is a centralization risk, while Ethereum can have thousands of validators.
Should I build my DApp on Ethereum or TRON?
This highly depends on the type of DApp you want to build and the specific needs of your protocol.
Web3 games would theoretically fare better on TRON because of its need for fast transactions and efficiency. However, DeFi protocols that prioritise decentralisation and security would do better on the Ethereum network.
Which smart contract platform has lower gas fees?
The gas fees on TRON are significantly lower than Ethereum’s. This can range from costing just a few cents to sometimes being completely free of charge, depending on how much energy and bandwidth the user has.
What are the most popular DApps built on TRON?
Some of the most popular TRON DApps are:
- Transit Swap: a decentralized exchange for swapping different tokens
- JustLend: a lending and borrowing DeFi app on the TRON ecosystem.
- TronNRG: a popular TRON DApp for renting energy and bandwidth.
- Tron NInjas: a web3 game built on the TRON ecosystem
Conclusion
Both smart contract platforms have their own set of pros and cons – TRON being faster, adaptable and more scalable, while Ethereum being more decentralized, secure and a larger developer community.
It is therefore important, as a developer or an enthusiast, to understand the features of each platform to help determine what works best for your use case. Protocols that require extremely fast transactions would generally work better on TRON, while complex DeFi protocols that would benefit from greater security and extensive developer support systems would fare well on Ethereum.
Either way, there’s the luxury of choice.
