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Tron [TRX] ecosystem takes another step towards expansion; network account more than 400,000

Priya

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Tron [TRX] ecosystem takes another step towards expansion; network account more than 400,000
Source: Unsplash

Tron [TRX], one of the leading cryptocurrencies in the market, marked another milestone towards its way to ‘Decentralize the Internet’. The network’s account has crossed the 400,000 mark on 26th September 2018.

Tron network data | Source: Tron Scan

Tron network data | Source: Tron Scan

This comes in the limelight days after Tron network account surpassed EOS’s network accounts by crossing the 300,000 mark. Justin Sun, the Founder and CEO of Tron Foundation also tweeted about Tron [TRX] surpassing EOS. He said:

#TRON MainNet accounts have surpassed #EOS. 12:00pm, September 4, 2018, according to trxplorer.io and eosflare.io, #TRON MainNet: 301604 V.S. #EOS: 299743. The #TRON Network continues to thrive and gains more recognition 71 days post #TRON MainNet launch.”

Currently, EOS has around 333,970 network account. This means that Tron has 69,149 more network accounts in comparision to EOS. Moreover, during the Tron Virtual Machine Launch, Justin Sun stated that Tron’s network account would surpass EOS network account by the end of September 2018 i.e, end of Q3.

Along with the increase in the network account, Tron has seen a significant increase in its daily transactions since the MainNet launch. Tron’s daily transactions reached its peak at the beginning of the month, i.e, September 1. The total transactions on that day were 440,135. The second highest transaction on the network is noted to be in the month of August with over 416,497.

Misha Lederman, a believer in Tron [TRX] said:

“… 100,000 accounts added to the $TRX #Blockchain in just 3 weeks Only beginning of our journey to decentralize the web”

The Foundation launched the Tron Virtual Machine [TVM] on 30th August 2018. During the launch, the Foundation claimed that TVM was going to surpass the Ethereum Virtual Machine [EVM]. The TVM is completely compatible with the EVM and is 1000x faster than Ethereum. In addition, the TVM will have its own unique memory and a distinctive resources manager. The Virtual Machine is also going to have a user-friendly energy consumption model.



Recently, Justin Sun had asked developers to stop deploying dApps on the Ethereum network and shift to the Tron network. This was because of the Ethereum network had reached to its full capacity.

According to CoinMarketCap, at press time, Tron [TRX] was trading $0.021 with a market cap of $1.39 billion. The coin ranked on the 13th position has seen a significant growth of more than 8% in the past 7 days.





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

Bitcoin

Bitcoin’s [BTC] security is 100 times more than that of Bitcoin Cash’s [BCH], says Litecoin creator

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Bitcoin's [BTC] security is more than a 100 times than that of Bitcoin Cash [BCH], says Litecoin creator
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Charlie Lee, Creator of Litecoin [LTC] and Managing Director of Litecoin Foundation, spoke about projects that allocate mining rewards to developers, in an interview with Laura Shin for Unchained Podcast. He also opined about whether Litecoin’s vision still remained the same or not.

On projects that allocate a percentage of the block reward to developers, Lee stated that it was “okay” as long as the project developers were transparent on this subject, adding that in some cases, this was “needed”. He further stated that it was hard to find developers for Litecoin since, there were not enough funds to pay these developers.

[…] we work on raising money and using money to pay for developers but unlike ICOs or other projects we just don’t have millions sitting from selling our ICO tokens to fund these developers. So, yeah I think projects that do that it’s kind of needed […]”

However, Lee stated that for cryptocurrencies such as Bitcoin and Litecoin that really want to become decentralized money, there cannot be any centralized actions like using mining rewards to pay developers.

This was followed by Lee speaking about Litecoin’s vision and the coin’s use case. On this, Lee stated that the current vision was still “very similar” to the old one, seeing Litecoin as a complement to Bitcoin. He added that Litecoin’s raison d’être was not to replace Bitcoin, unlike some other coins that claim to be the better version of Bitcoin.

“[…] I think it’s trade-off. So, a lot of people don’t talk about the trade-offs people talk about how they have fees are cheaper […] people in support of Bitcoin Cash constantly talk about how Bitcoin Cash transaction fees are like a hundredth of that of Bitcoin but, you get what you pay for right […]”

He further added that Bitcoin’s “security was more than hundred times” that of Bitcoin Cash, irrespective of the hash rate being more or not. Lee remarked that one cannot “attack Bitcoin,” whereas Bitcoin Cash could be “eas[ily] be attacked,” adding that this factor was very important and also the reason for cheaper fees.



“[…] same for Litecoin alright. Litecoin is cheaper and the security is less than Bitcoin […] so people who actually move lots of money they would want to use Bitcoin and I think that’s fine like Litecoin can compliment Bitcoin perfectly fine […]”

Lee stated that this was the reason he agreed with Lightning Network, arguing that it was good for both Bitcoin and Litecoin. He stated that Lightning not only helps them scale, but also enables cross-chain atomic swaps, allowing people to swap two different coins instantly and easily in a decentralized manner.





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