Justin Sun, the founder of the Tron network, may be preparing to go head-to-head with the Ethereum network, as he retweeted a tweet claiming that the Ethereum EIP-1559 update is copying the Tron network. The action has indicated that it agrees with the sentiments expressed in the Twitter post, which He says: "What Ethereum does with EIP1559 is exactly copying the Tron blockchain, so who is copying now?"
The action indicates your agreement with the sentiment expressed by the mail.
EIP-1559 is an update to the Ethereum network proposed by Vitalik Buterin in 2019. The update's feature description indicates that it will resolve several issues on the Ethereum network, the most notable of which is the current high transaction fees of the net. especially in times of network congestion.
The Ethereum network currently uses an auction system to decide which transactions will be included in a block, but with EIP-1559, that system will be replaced by one that automatically sets fees and allows people to add a tip if they want their transaction to have priority.
Additionally, the upgrade will cause the base fee that the network chooses for transactions to burn rather than go to the miners, thus acting as an "Ether scarcity engine."
The comparisons between Tron and Ethereum are not unusual occurrences. Although Tron was initially created via Ethereum's ERC-20 protocol, they have long since abandoned the protocol, forming a native and independent blockchain of their own.
In particular, to Tron's advantage, the network has a faster transaction speed than the Ethereum network, and Tron's transactions take about 15 seconds to complete, while Ethereum takes up to 15 minutes. Tron is also believed to be more scalable than Ethereum and with more advanced technology. Following the functions given for EIP-1559, Ethereum is looking to develop its network value as the upgrade will reduce the time and cost of transactions.
Although Vitalik Buterin, founder of Ethereum, has not responded to Sun, the tension may be growing as the two have clashed on Twitter in the past. A notable previous incident was when Buterin criticized Sun on the microblogging platform saying that people who were predicting another 1000-fold growth in cryptocurrencies from their current state were "Encouraging people to act more like Justin Sun". Sun responded to the tweet and said that he believes cryptocurrencies would be as successful as people said it would give time.
Regardless of the drama, EIP-1559 is coming to life, with a high level of anticipation on the part of market players. EIP-1559 will be rolled out alongside others in the London hard fork update, which is scheduled to roll out to testnets by June 30 and should hit the Ethereum mainnet in July.