The Battle of Protocols: a competitive analysis on Ethereum, EOS, Tron and Tezos

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• By Pierre-Alexandre
  May 28th, 2019

• Report

 

Cryptoasset research firm Bitassist have collaborated with cryptocurrency data analytics firm Omenics to provide unique insights into the competition among four of the leading protocols (Ethereum, EOS, Tron, Tezos) within the cryptoasset market.

 

Key insights from the study (*download for free the full report below):

 

-  Distributed to the ends of the earth! Ethereum with its clear head start is the most distributed of the 4 protocols, boasting over 5,000 active nodes. Tron in second place has over 1280 active nodes and Tezos in third has 78, with over 50% of them in the United States.

 

- The larger the network, the greater the effect! Since Q1 2018 Ethereum has consistently achieved the highest number of Daily Active Users (DAUs), peaking in February 2018 at around 600K. To date, EOS and TRON have approximately 22% of Ethereum DUAs with roughly 60K active addresses.

 

- Millions of transactions a day keep the trolls away. Transactions a day is arguably the best way to gauge adoption and future velocity. EOS is the clear leader, hitting a peak of 7 million transactions per day in August 2018. To date, EOS does approximately 5 million transactions per day, Tron doing 1.9 million and Ethereum doing 702K.

 

- The US and China battle for top spot in securing leading blockchain protocols; Among the four leading state-base protocols, the United States currently has the largest number of validating nodes followed closely by China.

 

- Equal weighted portfolio of the leading protocols significantly outperforms bitcoin during the last bear market.

 

- News sentiment between EOS and ETH shows the highest correlation among the leading protocols.