Tron (TRX) reaches a new milestone of 100 million transactions, here’s what led to it


Justin Sun, the chief executive officer of the TRON Foundation, has recently revealed through microblogging platform Twitter that the TRX network has now processed over 100 million transactions.

In his tweet, Sun included a link to a TRX block explorer that shows the cryptocurrency has indeed processed said number of transactions. Its high transaction volume likely comes from the decentralized applications (dApps) in its ecosystem.

The tweet is shown below:

Quite amazing results and a big milestone for Tron (TRX). 

The bigger picture

Tron has one of the best and highly rated ecosystem. According to DappRadar, eight out of the 10 most popular dApps on TRX’s network are gambling dApps, with the other two being decentralized cryptocurrency exchanges.

The most prominent dApp on its ecosystem is TRONbet. TRONbet was the first one to be launched on the cryptocurrency’s blockchain. The day it was released it was reportedly played over 10,000 times, and so far according to its website it has paid out over 10 million TRX tokens.

The game was so popular that it helped TRON overtake Ethereum in daily transaction volume. Currently, there are nearly 850,000 accounts on the cryptocurrency’s blockchain – according to TronScan – and its dApps appear to have more users than those of Ethereum.

Looking further into dApps that’s apart of the TRON’s ecosystem, there’s also TronDice. It managed to pay out over $4 million worth of TRX tokens as of last month. To play these games, all users have to do is create a TronLink wallet, fund it, and connect it.

That’s a massive contribution to the Tron ecosystem. As we could tell from the above stats, gambling apps built within the ecosystem is a big majority of the transactions.

Diving deeper

Having developers build on top of your platform is only one key to achieving massive growth. TRON does an amazing job with their frequent company updates on product roadmap and more. Here are some other fundamental factors to consider:

  • An upcoming update that will make the cryptocurrency “200x faster” than ETH.
  • TRON’s acquisition of Bittorrent was huge and led to massive attention.
  • Potential big partnerships with enterprise companies such as Baidu
  • Improved policies for their upcoming quarter

Looking a little further back, TRON’s CEO tweeted that TRON was going to ‘build a fund to rescue ETH and EOS developers from the collapse of their platform’ as long as those developers changed sides and migrated to TRON.

Without a doubt, if TRON can poach developers successfully and have them pivot their apps to the TRON platform, then we will certainly see a massive surge.

While Tron has been making it easier for Ethereum developers to migrate their code on its platform — it added support for the Ethereum Virtual Machine in October — developers appear to be uninterested. Cong Li, Head of Community over at TRON, told DecryptMedia that only 10 of the 50 dApps Tron has reached out to have migrated to its platform. Nearly half of these dApps said they were not considering the move to Tron in the near term.

Now while all of these seem good, there’s also a lot of comments about how TRON’s CEO is a fluff. For example, TRON kept the community hyped with “a game changing partnership” deal, but it turned out to be just a smaller deal with Baidu’s cloud computing.

Nevertheless, this isn’t going to stop TRON’s growth and the more developers that they are able to convince, they more of a bull run they’ll be headed towards.

 


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Wilson

Wilson is a 3x Startup Entrepreneur. He is passionate about the cryptocurrency space. You can catch him tweeting about cryptocurrency often @itswilson8 You can also email Wilson directly at wilson@cryptomenow.com

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