Tron [TRX] – Love it or Hate it, but you can’t ignore it
When the entire market was enjoying a bull run in December 2017, John McAfee, a well-known influencer, endorsed a new cryptocurrency in the market, commenting that it was a “long-term Hodl.” A year down the line, the project has launched its own blockchain and had become one of the biggest competitors of Ethereum, the leading smart-contract platform.
Tron [TRX], the project that is spearheaded by Justin Sun and the Tron Foundation, currently stands in the tenth position on CoinMarketCap in terms of market capitalization, and is also one of the most-talked-about projects in the cryptocurrency space. Over the past few months, Tron has seen a meteoric rise in terms of price and development, with the project even making headlines alongside Warren Buffett, CEO of Berkshire Hathaway.
Having been a part of Ripple, Justin Sun launched his own cryptocurrency project, Tron, in mid-2017. The project later went on to raise nearly $70 million in its fundraising rounds with the promise of “Healing the Internet,” which has since been changed to “Decentralize the Web.” The project’s main developments are headed by Tron Foundation, a not-for-profit organization based in Singapore, and led by Sun.
The project, which was initially based on Ethereum, officially launched its open-source protocol in December 2017, following which it gained the support of the “Godfather in the field of antivirus software.” McAfee chose the cryptocurrency as the ‘Coin of the Day’ on December 26, 2017. He had stated on Twitter,
“Tron is a long-term Hodl. Those who are flipping it are losing out.”
“Tron [TRX] Creates, in their words, ‘Data Liberation’ with the intent of ‘Healing the Internet’. They are constructing a worldwide free content entertainment system. Tron allows users to freely publish, store and own data, based on the concept that creative industries should be mainly driven by the pursuit of the quality of art. With Tron, content is owned by content creators, artists and scriptwriters rather than the capitalists who consume them.”
Since then, the coin has been through several milestones. This includes its MainNet launch, Tron Virtual Machine launch, BitTorrent acquisition, the election of Super Representatives, Project Atlas, SUN Network, Loom Network integration, PornHub collaboration, and BitTorrent token launch, among many others.
Tron MainNet Launch
After much anticipation, Tron launched its MainNet on May 31, 2018, two months after the launch of its TestNet. The MainNet was initiated by its super representatives on June 25, 2018, at 10:00 AM. On this, Sun had said,
“we have completed the development of TRON’s public blockchain Odyssey 2.0, launched the mainnet, and adopted TPOS […] which has allowed TPS to break 10,000. In the last 2 months, we have made 2,153 commits, ran 384 unit tests, and created a more secure and stable version of the public blockchain through bug fixes and stress tests.
Notably, in order to mark the day, the blockchain project bid goodbye to become the biggest rival of Ethereum and the Tron Foundation announced Tron Independence Day. Today marks the completion of a whole year since the initiation of the MainNet, and commemorates its second year of independence.
Sun had said on Twitter,
“Goodbye >#ethereum! Happy #TRON Independence Day! #TRX $TRX”
Since its first year, the project has surpassed Ethereum several times, in terms of active addresses, daily transaction, developer application volume, new users, and transaction volume.
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