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Tron Up in Down Market

March 30, 2018

Among the top 20 cryptocurrencies by market cap, Tron (TRX) seems to be one showing the most resilience in the recent down market. As the total market cap for all cryptocurrencies has dropped to around $300 billion, with looming threats of a further drop, Tron is one of few altcoins to show gains over past month.

 

‘Testnet’ is a beta run of the ‘main net’ launch that is expected to enable Tron to port their TRX token over from the ERC-20 Ethereum standard. A successful break away from the Ethereum blockchain will speed TRX transactions and lower fees. Main net’s release date is scheduled for May 31, 2018.

 

Besides the upcoming testnet launch, there has been a recent flurry of good news on the Tron development front. From March 17 – March 23, 2018, the Tron dev team initiated or completed four significant technical developments: addition of unit test cases, general network debugging, debugging of block generation logic, and a blockchain explorer upgrade.

 

Tron is an entertainment industry blockchain ecosystem that offers distributed storage for users to publish their creative works peer-to-peer. Creative content remains under control of the creator. With the elimination of third party fees there is greater potential for profit.

 

TRX (market cap around $3 billion) is an ERC-20 token that is stored in Ethereum wallets. There is no official Tron wallet yet. TRX is heavily traded on Asian exchanges Binance, Huobi, and Upbit, accounting for 5 - 12% of their daily trading volume.

Tron was founded in 2017 by CEO Justin Sun and the Tron Foundation. Tron ICO’ed on September 9, 2017 with a whitepaper that laid out six stages of roadmap development, starting with the current ‘Exodus’ stage and ending with the ‘Eternity’ stage in 2023. TRON was tokenized in late 2017.

 

Tron founder Justin Sun has been exceedingly active on Twitter, tweeting several times per day with a countdown to the March 31st ‘testnet’ launch. Sun’s unrestrained enthusiasm is only matched by the gaudy boosterism on display on Tron’s homepage at www.tron.network.

 

 

 

By: BGN Editorial Staff

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