On 8th August, Justin Sun, the Co-Founder of Tron announced that Tron is on the way to surpass Ethereum in terms of daily transactions. The statistics that he tweeted showed that on 6th August, TRX was traded 128,438 times while Ethereum was traded 636,342 times.
Justin’s argument was that Tron, which is just one month old, had achieved such high trading numbers compared to Ethereum which has been in the game for over 3 years.
On May 30th, Tron [TRX] launched its own MainNet. Following this, they launched their Tron Virtual Machine. The machine is compatible with the Ethereum Virtual Machine and developers can shift from the Ethereum platform. This was marked as one of the significant moments in Tron history.
The platform has been aiming to surpass Ethereum even before the MainNet launch and this was one the first few steps taken by the Foundation. Moreover, the Foundation also revealed Project Atlas which will enable billions of BitTorrent users to become a part of Tron.
The majority of the community claims that irrespective of the announcements, there has been no positive impact on the value of the coin. TRX has only been fluctuating on the cryptocurrency charts rather than holding a stable position. Moreover, Ethereum Classic [ETC] and Monero [XMR] has pushed Tron down to the 13th position.
According to CoinMarketCap, Tron [TRX] was trading at $0.024 with a market cap of more than $1 billion. The coin has seen a fall of more than 25% in the past 7 days and more than 11% in the past 24 hours.
Steve Kravetes, a Tron enthusiast says:
“Obviously this was in the making for quite some time because of the sheer scale of expansion and rapid development undertaken by the foundation. The anticipation for the launch of the secret project i.e., Project Atlas is a clear indication of the immense ripple that Tron has created in the cryptocurrency ocean.”
Jeremy Ciconte, a Twitter user commented :
“Get the price to surpass ETH and we’re cooking”
Recently, Super Representative Program has been a huge success with over 64 candidates now a part of the program. The latest addition to the Super Representatives is uTorrent.
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Tron’s Justin Sun claims stablecoins will be key to cryptocurrency development
The Justin Sun-led Tron has been in the news multiple times recently, thanks to its regular updates and noticeable price hikes. The CEO has also played a very active role in promoting the cryptocurrency, as exhibited by his recent AMA on Periscope.
Sun focused on how the initial success with protocol governance in the Tron ecosystem paved the way for future developments in the blockchain. The CEO stated,
“Tron had 27 Super Representatives passing 17 new protocols out of which 10 were voted in and accepted. Tron is also the third blockchain after Ethereum to be associated with the stablecoin Tether.”
Justin Sun further opined that 2019 was the year of the stablecoins and that inked assets will be a key focal point when it comes to future developments. He believes that the stablecoin system is the ecosystem in which centralized finance will be taking off. Sun added,
“We will be collaborating with more parties to boost Tether USDT use cases in the TRX ecosystem.”
The Tron Foundation had launched Tether on the TRX blockchain in April to much fanfare, with Tron tweeting,
“Today #USDT is launched on TRON’s blockchain. $USDT is issued by @Tether_to on the #TRON network based on #TRC20 protocol. There will also be a total reward of 20 million $USDT for 100 days. $USDT will be fast, free and smart! #TRX #BTT”
This program was later postponed due to certain discrepancies that came to light post the Tether-Bitfinex episode. Another topic touched on by the Tron CEO was the much-celebrated BitTorrent, which has come a long way since its acquisition by Tron in 2018. Sun admitted that BitTorrent was ‘integral’ to the overall growth of Tron’s development cycle. BTT recently completed its fifth airdrop on June 11, right after the Tron blockchain had breached the 10 million mark in terms of block height. The BTT airdrop involved the transfer of close to a billion tokens which were sent as a reward to TRX holders.
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