Tron’s original plan to dominate the blockchain technology sector seems to be on the course. According to a tweet by TronScan, a block explorer based on the Tron platform, the Tron blockchain has hit a new milestone of having over 500 million smart contracts recorded now.
With over 2 million user accounts, Tron’s blockchain platform seems to be budding at high speeds growing by between 10,000 and 50,000 users per day. Tron’s decentralized application weekly report confirms the news about the rapid development of the Tron environment.
TronScan findings were retweeted by Justin Sun, Tron Foundation CO and founder. Crypto followers and more so Tronics, Tron Community members, are elated with the announcement. The latest Tron milestone furthers the conviction of Tron community members that their favorite cryptocurrency and blockchain technology is leading other blockchain technologies in terms of mass-scale adoption.
— TRONSCAN (@TRONSCAN_ORG) August 13, 2019
At present, blockchain platforms are facing significant challenges in achieving high scalability and high rate of TPS (transactions per second). Crypto pundits agree that Tron TRX is a blockchain platform and cryptocurrency that has managed to find solutions for these problems and is a working technology that is ready for mass adoption.
A smart contract is a computer protocol that supports the verification and performance of virtual currency transfer between two entities in a prearranged condition.
Smart contracts are credited for being effective and flexible, making the computer protocol one of the most significant blockchain-based operating systems. Smart contracts enable the development of DApps which are better known as decentralized applications which operate on Tron’s blockchain platform.
In October 2018, Tron Foundation took the giant risk of building its infrastructure to a completely decentralized internet by activating its virtual machine. In his usual style, Justin Sun, Tron CEO and founder, announced this news in a tweet that Tron Foundation was going to update its MainNet to a level of ushering in the smart contract stage. This has since happened and is in operation.
A smart contract is a relevant tool that is much needed in the growing crypto market to assist in the development of decentralized environments for peer-to-peer transactions.
The debut of the smart contract protocol gives power to Tron and its significance aligning them on a level to compete with other crypto big wigs like Ethereum. Due to their inability to handle its growing network, Ethereum is losing its vantage point as the most robust blockchain platform operating via smart contract.
Tron, the Leader in DApp Usage
According to findings published by DAppReview last week, Tron TRX is the number one crypto platform in regards to 24-hour trade volume on its decentralized applications (DApps). Tron TRX leads EOS and Ethereum, both of whom host decentralized applications (DApps) on their blockchain platforms.
DAppReview is a company which publishes on-chain data analytics, among other things. DAppReview made public this information last Friday on their Twitter page which was quickly retweeted by Justin Sun, the founder and CEO of Tron Foundation.
According to the findings, the 24-hour trade volumes on the Tron platform was at about 643 million TRX that is worth more than 18 million US dollars.
By looking at the findings, it is clear Tron has overtaken Ethereum, which managed to record about 40,000 ETH worth about 9 million US dollars. Ethereum performed so unexpectedly that it was overtaken by EOS which came second place with 2.5 million EOS being exchanged worth more about 10.5 million US dollars.
#DApp Daily Report:
— DappReview (@dapp_review) August 14, 2019
As the Tron ecosystem continues to attract more developers and users, the framework for its integration continues to grow mirroring its growth. This is predominantly true for online platforms. While PCs, applications, and websites may not be exposed to decentralized technologies, Tron smart contracts are bridging the gap from these centralized platforms to a distributed system.
At present, it would be right to say that Tron supports the development and deployment of decentralized applications (DApps) in the most convenient manners.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.