If you are looking out for investing into cryptoasset, then keep your eye on TRON(TRX).
Recently, the cryptoasset market has taken a huge hit, falling against the US dollar. Bitcoin trading around $9000 indicated a 4% growth and Ethereum only half a percent growth. During this time, TRON surprised everyone with a whopping 15% jump. This made Tron achieve a value of approximately $0.1011 and market capitalisation of $6.65 billion.
Tron is an open source protocol based on blockchain that supports multiple blockchain systems like Bitcoin, Ethereum, Qtum. It also provides multiple protocol infrastructure to developers for entertainment application development and allows users to enjoy smooth protocol networks.
Why did the rise happen?
Tron’s journey to its way to the top has been glorious. It’s currently the 10th largest cryptoasset in the world. This rise can be attributed to many factors like upcoming coin burn, test net launch, migration of ERC20 token to its blockchain and token airdrops.
Justin Son, the founder of Tron, recently tweeted about the airdrop which was initiated for the entire Ethereum community on April 27.
“Progress Report: #TRON 30M #TRX Airdrop to #ETHEREUM Community, people who didn’t get #TRX airdrop, please bear with us as we work through #ETHcongestion issues. Thank you for your patience”
— Justin Sun (@justinsuntron) May 1, 2018
Another reason for Tron’s rise is the upcoming super delegate elections. The tron system will work on a semi centralised governance system and that’s why the delegation is required. The control on tron is similar to Stellar and EOS where the level to trust is added to secure the network. These secure transactions are much more capable of achieving a high transaction rate and that’s why are more sought after. Tron processes transactions at a pace of 10,000 per second, whereas Ethereum handles just 25 transactions per second. Bitcoin handles about 7–13 transactions per second. This transaction rate is half of that for VISA.
-Odyssey(OCN) official channel, April 2018
Tron’s team has also successfully analysed and tested the transfer function, implying that point to point transfers will now be possible without any interruptions.
The team has also completely debugged the network, removing any catastrophic attacks which might make the network slow. In addition to the tron network, the block generation system has also been debugged to assure that all nodes are initialised accurately.
With the kind of efforts that has being put behind Tron, it’s not surprising to see that it is has soared high in the industry. If the current rate of growth is continued, Tron will soon be in the top 5 cryptoassets list of 2018. Do go ahead, analyse your crypto investments wisely!