Altcoins

Will TRON (TRX) Dominate Ethereum (ETH)?

For a Week now, Tron has been making cryptocurrency news headlines around the world. By far Tron is probably the best-known cryptocurrency in the world after Bitcoin, mainly since Tron lacks no publicity. It all started when Tron’s founder and CEO, Justin Sun, had a go at Ethereum on Twitter back in April, making Ethereum’s founder, Vitalik Buterin, react to Sun’s tweet by accusing him of copy-pasting his content.

In the end, Tron went silent about Ethereum. Then on June 1st, Sun had another go at Ethereum.

This time again he published a graphic where he compares Tron vs. Ethereum, highlighting Tron’s advantages. Some of the facts were revised to look more realistic, including the transactions per second speed which dropped from 10,000 to 2,000 TPS. However, these episodes have attracted a massive number of fans and detractors for Tron. They have become the loyal support base for Tron’s product launches and MainNet promotions.

The Tron MainNet has been launched and is in public beta testing. It promised to provide its users with a safe, easy-to-use and reliable blockchain service by incorporating different features on the platform such as KYC, Wallet (hot, warm, and cold) and immediate customer support. It can currently handle 2,000 transactions per second in comparison to Ethereum’s 20 TPS. In the week before the MainNet release, Tron was ranked #1 on Github with 253 commits. The testing is expected to run to 24th June.

Tron has declared its “Independence Day” on 25th June, the day when TRX tokens, an ERC20 token, will convert to TRX coin on Tron’s MainNet. On June 26th, Tron will hold a Super Representative Election where Tron supporters will elect 27 officials to operate and govern the Tron Network. Some major exchanges have already agreed to handle the blockchain upgrade and token migration.

Most notably, Tron has partnered with Shift Market, which according to Justin Sun, exposes Tron to the Forex Markets.

Shift Markets will bring TRX trading into the currency markets, which is considered to be the largest financial market in the world, with trillions of transactions executed on a daily basis.

Ian McAfee, Shift Markets CEO, said;

We are excited to bridge the gap between the FX and crypto markets with a popular and exciting project like Tron. The demand from FX has been enormous, and we anticipate more and more crossover between the two markets.

Nine brokers in nine different countries will offer TRX. The first UK-regulated exchange to list TRX is expected to begin trading in a few weeks. Moreover, the leading regulated Indian FX broker, JM Financial, will be the first in the region to offer TRX, next week.

Anther major switch from Ethereum’s network is EOS MainNet and these two blockchain projects, EOS & TRON, moving away from Ethereum are now posing a considerable competetion.

So far, Tron’s rise has been quite impressive. Justin Sun is playing his cards right, making Tron stand out and the active community around Tron is also growing rapidly but will it actually dominate Etherem? that would largely depend over the apps, and their adaptability, developed on top of this platform.

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Collins Valentin

Collins is a blockchain enthusiast, who spends his time between documenting the blockchain revolution in Africa, and writing the latest on the cryptocurrency space. Collins contributes guests posts to BlockPublisher. Email: editor.news@blockpublisher.com

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