My Greetings to everyone in this community, this is my first crypto academy assignment, I’m happy to do my first Assignment this week by able crypto professor @alphafx. I’m here to present my assignment on this platform.

What is a blockchain

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At first when I didn’t know anything about blockchain I had a very big misconception about it, until I develop interest for cryptocurrencies. Then I got to learn more the blockchain as a platform.to give a simple understandable statement about blockchain. Blockchain is database program which is design with cryptographic to collect data records and make transactions easy.

In a Blockchain, all individual records are encrypted. so make it difficult for hackers to hacked the system. In a blockchain information’s are stored saved in blocks. The blocks has a storage capacity which is filled with information’s, its chained into early filled blocks, making a chain of data which is termed as ‘blockchain’. The new information added will be saved in a new formed chain, this information will have added to the chain when filled. It will now store it in form known as a ‘digital ledger’. Information, stored in this form is highly secured.

Let’s try to have look at block chain as a database. Blockchain is described as a decentralized database which is manage and administered by several participants known as distributed ledger technology{DLT}. Blockchain collects information and store it electronically in the computer system.

Data is also structured in a tabular form to make it easy for the user to search for a particular information.

Importance of blockchain.

Due to highly secured nature of the blockchain system, everyone going for a business activity will not want run lost and so will preferable go for blockchain. The reliability of the blockchain system will catch the attention of every business man. The highlights below are the importance of the blockchain;
. security in the blockchain system is the number priority of every business investor. Hackers in this time of world are looking for weak security systems to trap into it and either steal, destroy or manipulate it in their own way. This make the blockchain system an important one.
. using blockchain system, investors transaction is free from fraud. This due to their open-source-ledger, which detect fraud easy and fast.
. lastly, blockchain save time and money as one can send, receive and transfer funds within some small period of time.

Tron as a block chain network.

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I want to start by giving a brief history of tron. Tron token was introduced by a Singapore based non-profit organization known as Tron foundation in 2017. This organization was headed by Justin sun and an able developers team which include technology stalwarts. Tron is a decentralized system that aim at building a global content free system and with distributed storage system. The Tron system has its own tokens known as tronix [TRX] which used for payment of services in this platform. Trons also allows content sharing.

Ethereum as a blockchain network

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I will also to brief the history of ethereum . A great innovation in 2015, was introduced into the blockchain system by a Russian-canadian programmer well known as vitalik buterin. He contributed by introducing ethereum into the cryptocurrencies and blockchain system. He aimed at enabling token to thousands of decentralized cryptocurrencies and projects to be manufactured and deployed without the need to their own blockchain system. This platform is an open source blockchain. Ethereum has drown a lot of attention from investors, as it makes its second position in the coin market after bitcoin.

Comparing trons[TRX] and ethereum[ETH] as a blockchain network.

These two are both cryptocurrencies with similar goals as blockchain networks and so can be compared. But let’s compare them in terms of the following factors;

1. Their speed of transaction
2. Their network security
3. Their decentralized systems.

Now let’s try to explain each comparism;

Speed of transaction

Considering the nature of the block, transaction charges and network breakages contribute to to the speed of the transactions in the blockchain network system. The pace at transaction is done in the blockchain network is considered an important factor. Tron uses an elective mood to increase the speed of deals. Trons uses only 25 nodes to in performing deals on the system, the rest use as backups. Tron uses only 15 seconds to complete a deal. On the other side ethereum uses up to maximum of 6 minutes to complete transaction.

Decentralized nature of the systems

Cryptocurrencies are built on the basics of decentralization. Ethereum and tron are both decentralized blockchain systems. Both of these blockchains does not involve a mediator or a middleman. However, as tron is fighting to get rid of third parties in the system, ethereum is planning to established a global decentralized network.

Even thou, both tokens are doing great in promoting decentralized network apps, ethereum has more decentralized system apps than trons. In conclusion, ethereum has more decentralized system than trons.

Network security
Ethereum is now a hacked-resistance system, this due to the fact that they spent alot of money on network security. It became more critical after their DAO scandal. They work hard to improve their system in order to prevent further damage to the system.
However, for Tron, updates to their back bounties are scarce and there is not much information across their breaks. Both token are working hard at the same time to the next level, there lies a difference level in their third party apps formed. In

Conclusion

, To conclude on my assignment, I would say that blockchains are made to work in several ways using different tolls to secure transaction and stop hackers or intruders from interrupting on their systems. To add to my conclusion, it is clear that ethereum has really worked to improve on their systems in the blockchain platform.

My regards to our able crypto professor @alphax for the chance giving me to participate in my first crypto academy contest.
Thank you for reading my assignment.
@alphax