Tron Doesn’t Have Its Own DeFi Apps, Is It Really The ETH Killer?

(TRX) Tron doesn’t have its own DeFi apps and yet earned the title ‘’The Ethereum Killer’’ as per the previous reports that we had in our TRON news.

Decentralized Finance or DeFi, is one of the biggest topics for Ethereum currently and in the past few days, the network reached a new milestone with more than $1 billion in assets that were represented in smart contracts. During December, the number was just under $600 million so there was explosive growth as we can see, especially since 2020 started.

DeFi has become one of the hottest and biggest selling points of Ethereum so any other competitor will have to offer the same capabilities if they want to replace Ethereum or become the next ‘’Ethereum Killer as TRON claimed to be. Tron doesn’t have the potential currently to do so despite the claims that are over Ethereum, as it seems that there are no DeFi apps whatsoever.

This was the same concern that Colin Platt had when he was investigating the platform. He had a hard time finding any DeFi apps and the director of Research at the block told him that ‘’good luck on your journey. I tried this a while ago and it was painful.’’ It seems that the DeFi apps on Tron are quite impossible to be found if they do exist, which is bad news for the self-proclaimed Ethereum Killer. The Dapps that do exist on TRON are mostly meant for gambling as reported in the previous tron news. For example, WINK is now the leading dapp on TRON with more than $36,440 in daily volume for gambling.

Unless there’s a cryptocurrency that can directly compete with Etherum in the DeFi area, TRON is not really a competitor. Ethereum has managed to craft a niche for itself after helping restore hopes in the project after the harsh bearish market in 2018. It is unclear how effective Defi will be in enforcing contracts and is still one-of-a-kind undertake in the crypto industry which now has about $1 billion in assets on the chain. Whether or not there will be a real competitor to tackle the dominance that Etheruem has in Defi, remains to be seen.