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Press Release: the Battle of Protocols

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Press Release: the Battle of Protocols Press Release: The Battle of Protocols Omenics cryptocurrency data analytics startup have teamed up with Bitassist, a Cryptoasset research firm, to ​ release a comprehensive report on the performance of popular blockchain protocols Ethereum, Tron, EOS and Tezos. A full version of the Battle of the Protocols PDF Report can be downloaded here: https://omenics.com/blog/the-battle-of-protocols-a-competitive-analysis-on-ethereum-eos-tron-and-tezos And an online PDF is available here: https://view.publitas.com/bitassist/the-battle-of-the-blockchain-protocols/ ​ Summary 1. A brief overview of the report 2. An analysis of the key findings In this report, Bitassist and Omenics collate and contrast key metrics for leading protocols to provide meaningful insights into the current state of competition. The metrics used in this report include the number of transactions per Second (TPS), the decentralization of governance, the number and distribution of nodes, various measures of on-chain activity or economic output and the community sentiment around the platform. As leading protocols compete for the top spot, developers, DApp users and investors eagerly observe the state of competition. This report leverages key blockchain metrics to highlight the respective strengths and weaknesses among Ethereum, EOS, Tron and Tezos. Omenics: Pierre-Alexandre Picard+33643035796, COO [email protected] Bitassist: James Bennett, CEO [email protected]. Key Takeaways from the Report Below are some of the key insights offered by the report indicating the overall performance of blockchain protocols. ● Transactions Per Second (TPS): This is one of the most important performance metrics to gauge the ​ relative strength of the blockchain protocol. TPS denotes the speed at which data can be added or confirmed onto the network. While blockchain is famous for its ability to perform instant transactions or payment settlements, there’s a lot to be done before it is ready for mainstream adoption, particularly in the financial market. Ethereum famously proved its current TPS limitations when the CryptoKitties non-fungible token game brought the blockchain to a standstill. The TPS data above outlines the total reported capacity for each of the respective blockchain protocols. As we can see, EOS is currently the only protocol capable of beating existing platforms such as Visa. The EOS network can facilitate around 4000 TPS, far ahead of the second fastest platform, Tron. Tron can facilitate over 700 TPS, while Tezos and Ethereum are significantly further behind with less than 100 TPS each. It is safe to say that blockchain has a long way to go before it can actually replace the traditional payments systems. ● Decentralization: A unique feature about blockchains is decentralization. The ability to operate a shared ​ ledger without giving any single party absolute control over the network. Measuring decentralization is not straightforward and can require analysing a number of metrics. In this report, Bitassist have grouped together some of the most important decentralization metrics to determine the relative position between the protocols: Omenics: Pierre-Alexandre Picard+33643035796, COO [email protected] Bitassist: James Bennett, CEO [email protected]. Where Ethereum loses out on transactions per second, it makes up for in decentralization. Ethereum stands out as the most decentralized platform with entirely decentralized code governance, ownership and transaction finality - meaning the inability for transactions to be reversed by a lobbying party. This trade off is ultimately a result of the consensus mechanics used to support the platform. While the proof of stake mechanism used by EOS enables the impressive performance, it also sacrifices true decentralization - notably a roll back of the EOS blockchain by the EOS government. Tezos ranks second in this assessment ​ ​ with 80% of all stake coins reaching consensus on appending the blockchain and the code being owned by a foundation. Despite Tron being the most distributed, it has the most centralized control from the governance point of view. ● Distribution or Node Counts: While decentralization refers to the governance and ownership of a ​ particular protocol, the count and distribution of the nodes indicates its censorship resistance. In a public blockchain protocol, the node is a single computer connected to the web of other users. The network distribution is gauged by the number and location of the nodes connected within the network. The higher the network distribution, the more resilient it is to external or state-sponsored attacks. The block validators on the blockchain protocol also represent the distribution on the particular network. Omenics: Pierre-Alexandre Picard+33643035796, COO [email protected] Bitassist: James Bennett, CEO [email protected]. The above chart shows that Ethereum has the highest number of active nodes. Besides, to understand the blockchain protocol distribution, it is important to know about the geographic dispersion of the active nodes. Below is the country-wise distribution showing the U.S. to be having the highest concentration of active nodes or block validators. ● On-Chain Activity: The on-chain activity of any blockchain protocol is measured through several other ​ sub-metrics like daily active users (DAUs), network value relative to transactions, median transaction value, the number of applications built on the platform, and the network utilization. Higher DAUs directly translates into higher value generated by the platform. Among the four crypto tokens, Ethereum has the highest number of daily active users. Moreover, Ethereum also takes a lead when it comes to the number of decentralized applications (DApps) hosted by a platform. ● Community and Sentiment: This is measured by using Omenics proprietary Sentscore metrics like social ​ sentiment, news sentiment, buzz. The report details an analysis of the correlations in social sentiment for the 4 blockchain technologies. The sentiment score calculated for Ethereum news seems to have a strong correlation pattern. News volume could help anticipate a price trend, while news sentiment gives a great indication of a potential price action. Full Battle of the Protocols PDF Report: https://omenics.com/blog/the-battle-of-protocols-a-competitive-analysis-on-ethereum-eos-tron-and-tezos ​ Omenics: Pierre-Alexandre Picard+33643035796, COO [email protected] Bitassist: James Bennett, CEO [email protected]. .
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