Tron’s Daily Active Addresses (DAA) Surpass Ethereum and Bitcoin
Tron, a platform similar to Ethereum for deploying smart contracts and running decentralized applications (dapps), is experiencing significant growth in its daily active addresses (DAA). DAA refers to the number of unique addresses that send or receive tokens on a blockchain in a single day.
According to metrics shared by decentralized finance researcher Alex Wacy, Tron currently has over 1.9 million DAA, more than double the number on the BNB Chain. Ethereum and Polygon have 320,000 and 301,000 DAA respectively, while Bitcoin has 570,000 DAA.
This surge in Tron’s DAA could be attributed to its involvement in stablecoin transactions. Tron holds around $45 billion worth of stablecoins, with 50% of all USDT transactions occurring on the platform.
Legacy Blockchains Still Preferred Despite Lower Activity
In terms of DAA alone, legacy networks like Bitcoin and Ethereum are trailing behind third-generation platforms like Tron. However, Bitcoin and Ethereum remain the preferred blockchains overall.
Bitcoin lacks smart contract capabilities but has gained adoption due to its first-mover advantage and widespread availability on exchanges. It facilitates the transfer of millions or even billions of dollars daily. Ethereum, on the other hand, generates more fees than Bitcoin from smart contract execution and transfers.
Despite the lower activity levels in the broader cryptocurrency scene, with reduced engagement in DeFi, metaverse, NFTs, and blockchain projects, Tron’s significant growth in DAA stands out.
Hot Take: Tron Emerges as a Strong Competitor
Tron’s rapid increase in daily active addresses demonstrates its growing popularity and potential to compete with established platforms like Ethereum and Bitcoin. Its involvement in stablecoin transactions and ability to attract new users highlight its strengths.
While legacy blockchains still hold sway, Tron’s emergence as a prominent player in the crypto space is notable. As the industry evolves, it will be interesting to see how Tron continues to innovate and gain traction among developers and users.
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