The number 13 ranked cryptocurrency by market cap, Tron (TRX), announced today the release of its side chain solution network, the Sun Network Version 1.0. It is official, Tron Foundation has just introduced to the market it’s scalability solution network that is known as Sun Networks V1.0 today.
The Sun Network is Tron’s first scalability solution version that promises to expand the capacity of its MainNet.
Integrating multiple scaling projects such as the cross-chain communications, smart contract optimized application side-chain, and DAppChain, the Sun Network V1.0 provides 100 times scalability solutions to its users. In addition to this, the Sun Network allows developers Decentralized Applications on sidechains.
In his usual style, Justin Sun, Tron Foundation founder and CEO, took to his Twitter page to announce the milestone of the launch of the initial version of the code base, the Sun Network’s DAppChain Code:
Among #SUNNetwork, #DAppChain is a side chain scaling project designed to provide unlimited scaling capacity for the TRON MainNet, enabling #DApps to run with lower #Energy consumption, higher security and efficiency on #TRON. #TRX $TRX https://t.co/GjNkhywHPz
— H.E. Justin Sun 孙宇晨 (@justinsuntron) August 11, 2019
The start of the Sun Network V1.0 introduces two essential attributes the market has been longing for:
- The Sun Network V1.0 supports Smart contracts settlements on its network with little transaction fees incurred by its users focusing more on the TPS of the smart contract transactions that occur on its MainNet.
- Through the Sidechain, the Sun Network will support multiple customizable requirements such as the transaction confirmation speed, the transaction rates, and the setting side-chain incentives.
The launch of the Sun Network could not have come at any better time as many crypto pundits believe it will assist Tron in allowing unlimited scalability on its MainNet. By allowing the limitless scalability, the Sun Network V1.0 will pave the way for the development of decentralized applications and the growth of the entire crypto ecosystem.
According to Justin Sun, the success of the Sun Network will automatically have positive results to Tron TRX and the crypto community, positioning developers to reap significantly from the network.
Justin added,
“In addition to the positive results, the Sun Network promises the crypto environment, several scaling projects that include cross-chain communication and DAppChain further developing the general capacity of the Tron platform. Smart contract execution and TPS also stand to improve on the Tron MainNet following the launch of this incredible product.”
The crypto community is already a buzz towards the Sun Network a few hours into its launch with the prices of Tron TRX surging upwards by 1.13 percent within an hour.
At present, the market value of Tron TRX is 0.0204 US dollars with a market cap of 1.35 billion US dollars.
As one of the most significant cryptocurrency and blockchain technology in the world, Tron TRX has time and again proved itself as the leader of the DApp game by flouring its competitors Ethereum and EOS.IO for several weeks.
Despite leading the pack, Tron (TRX) seems not to be slowing down in developing and improving existing and new products. Apart from the latest news of the Sun Network launch, the blockchain technology, and digital coin launched its testnet in June to boost its decentralized application domain.
As a branch to Tron’s leading platform, the Sun Network V1.0 is designed to offer scalability solutions enhancing the transaction capacity.
The latest developments promise to redeem Tron as one of the brightest crypto projects in the market. Analysts are speculating the bulls might come out soon to ride the crypto asset to newer heights that might lead it to fall under the top 10 cryptocurrencies in the world.
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.
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