Tron Foundation’s SUN Network project has been in the works for quite some time now and the collective Tron ecosystem is preparing for its launch in May 2019. This move is expected to boost the Foundation’s DApps project, which has seen considerable success as more and more players join the network. It was reported that Gaming and Gambling apps on the Tron Network saw a substantial increase over the past few weeks, pushing its mainstream adoption to new heights.
In a recent tweet, Justin Sun, Tron Foundation’s CEO, clarified that the Tron mainnet would not require an upgrade following the launch of the SUN Network. He further elucidated that DApps would also not be affected if they did not switch to the DAppChain. His tweet read,
“MainNet doesn’t need to be upgraded after the launch of #SUNNetwork(DAppChain). #DApps won’t be affected if they don’t switch to DAppChain. For good user-experience, DApps will only need to integrate with sidechain SDK with simple configs to move from MainNet to DAppChain. #TRON.”
The SUN Network is expected to increase Tron blockchain’s productivity as it supports sidechain-based smart contracts via a new DAppChain. This sidechain is expected to boost the effectiveness of the Tron DApps ecosystem as it will facilitate DApps functioning using very minimal energy. This DAppChain also boasts the efficiency and security of the Tron mainnet.
The SUN Network, according to previous reports, will be launched in three phases and will, in effect, expand the overall capacity of the Tron network.
The testnet phase will see the initiation of off-chain confirmations on its sidechain smart contracts. This is the first phase and will go live on May 31, 2019. The mainnet will be launched on August 10 and will include DApps sidechains, cross-chain infrastructure, and other expansion products. The last and final segment of the implementation of SUN Network will be the optimization phase. Here, the performance of the sidechains would be analyzed thoroughly, following which the sidechains would be deployed.
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Binance coin pumps by over 6% in an hour; breaks its all-time high
On June 20, Binance coin [BNB], a coin ranked seventh on CoinMarketCap, surged by a massive 6.38% over the past hour. The coin also broke its all-time high and was trading at $36.47, at press time.
At press time, BNB was being traded at $36.47 with a market cap of $5.097 billion. The 24-hour trading volume of the coin was reported to be $571.64 million, as it spiked by 2.35% over the day. Over the past seven days, the coin noted a rise of 2.03% in its price and continued to rise by 6.38% within the hour.
This hike follows Singapore-based cryptocurrency exchange, KuCoin, listing Binance coin [BNB] and Binance announcing the launch of Elrond project on Binance launchpad. Binance funded the sharding-based public blockchain network in a private funding round, as the company closed the round with $1.9 million. It will be the next project supported by Binance launchpad and the token sale will be carried out in a lottery fashion. The token sale is scheduled to begin from June 22, 00:00 AM [UTC].
The coin was highly traded on Binance exchange with BNB/USDT pair and BNB/BTC pair. BNB/USDT took the first place as it noted a 24-hour trading volume of $137 million, followed by BNB/BTC which reported a volume of $126 million. The third position was taken by LBank exchange, which registered a trading volume of $120 million with BNB/USDT pair.
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