Stellar vs. TRON: Is There Really Any Competition?
Stellar vs. TRON—the debate all started with an interview. Jeb McCaleb, a co-founder of Stellar (XLM) and founder and former CTO of Ripple, interviewed with Yahoo Finance on New Year’s Eve. During the interview, the crypto pioneer mostly answered questions about Stellar but didn’t shy at taking jabs at other projects outside of Ethereum (ETH), Bitcoin (BTC) and XLM—specifically TRON (TRX).
McCaleb wasn’t necessarily comparing the two projects, hand-for-hand. Considering Stellar is a more centralized project, and TRON is decentralized focusing specifically on dApps.
The Stellar (XLM) co-founder was asked about the general ‘temperature’ in the crypto industry now and what he took away from the past few years. McCaleb states that he was amazed by how “hype-driven” the industry has become.
“The allocation of capital and resources is wild to watch, when these projects that have zero technical merit get millions of dollars,” McCaleb explained.
“It seems like a big shame. Hopefully, that will start to change. One of the nice things that comes with the market calming down—I still say it’s not a bear market—it means there’s less of that. Ninety percent of these projects are B.S. I’m looking forward to that changing. Things like Tron, it’s just garbage. But people dump tons of money into it, these things that just do not technically work.”
There was no way TRON (TRX) enthusiasts were going to let that one slide. Some even went as far as compiling the transaction figures comparing TRON and Stellar.
Stellar Txs Dec 31
8793#TRX did 318 x more txs vs XLM
Numbers speak louder than "garbage"🖖🏽 pic.twitter.com/YUWxJ95okC
— Misha Lederman (@mishalederman) January 1, 2019
Even TRON’s founder, Justin Sun, responded to reports of McCaleb’s interview.
We don't think @StellarLumens is our competitor at all since they have extremely low transaction volume, centralized&non-democratic system and 0 Dapps. #TRON will take their place within 2019 anyway. #TRX $TRX #XLM https://t.co/kPuTIwiI0r
— Justin Sun (@justinsuntron) January 1, 2019
No matter what project you prefer, the transaction numbers don’t lie. TRON (TRX) is completing far more transactions than Stellar (XLM).
On the flip side to combat Sun’s point, applications can be built on top of the Stellar Network. While they aren’t decentralized, the network can be utilized for much more than just monetary transactions.
To compare the two projects fundamentally would be silly, as they are built entirely different and built for different things. Whether they’re both functional or not is another story.
According to CoinMarketCap, XLM is currently trading at $0.11 a coin, up 2.03%. It remains the sixth-largest cryptocurrency by total market cap. TRX is currently trading at $0.019 a coin, up 4.98% in 24 hours. TRON remains the 10th largest cryptocurrency by total market cap.
Featured Image: Depositphotos/belchonock