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Tron Climbs Podium With Bitcoin, Ethereum; Becomes Cryptocurrency With Third Most Active Addresses

Looking at the number of transactions, we can notice that it forms a sinusoidal wave function. This meant that the community was reflecting on the price surge before conducting transactions.

The ongoing bull run brought about monstrous hype in the cryptocurrency industry, primarily centered around Bitcoin’s price. There were also significant factor surges in altcoin ecosystems, with Tron turning out on top
A recent analysis showed that during the previous week, the number of active addresses on the Tron blockchain jumped to the third position.

The Justin Sun founded cryptocurrency has always enjoyed significant support from its community and the latest news was celebrated across the board. TRX supporters quickly noticed that along with the price surge, TRX addresses had also steadily climbed on the charts. Tron became the cryptocurrency with the third most active addresses, after Bitcoin and Ethereum.

The number of active addresses on the Tron blockchain was calculated to be 233,000. This figure meant that over a million transactions were conducted on the Tron blockchain during the recently concluded bull run. At the same time, there were 640,000 addresses on the Bitcoin blockchain and 281,000 addresses on Ethereum blockchain. The former was responsible for 300,000 transactions while the latter oversaw 549,000 transactions.

Tronscan, the official data aggregator of the Tron blockchain calculated the total number of transactions and accounts. At press time, the total number of accounts on the Tron blockchain was 4.513 million with a current/max tps of 9/748.

The Tron blockchain also contained individual addresses who were responsible for mammoth individual transactions. Some TRX addresses individually handled over 850,000 transactions, a feat only possible because of scalability.

Looking at the number of transactions, we can notice that it forms a sinusoidal wave function. This meant that the community was reflecting on the price surge before conducting transactions.

In the last two weeks, TRX transactions peaked at 1.156 million on January 11. Since then the two peaks were at 1.35 million transactions and 1.058 million transactions, conducted on January 14 and January 18 respectively. Some members of the community were skeptical of Tron’s numbers with Amalia, a crypto enthusiast tweeting:

“According to @tronscan and tronscan is yours. Whata a joke you ripper! $BTT $WIN $TRX”
It did not take long for TRX supporters to come to the cryptocurrency’s defense. tokeweed, a massive Tron supporter replied:

“That data is straight from TRX’s blockchain. It’s transaparent. There’s no way fake the data. If there’s another TRX blockchain explorer, check it out there. Thanks for the reply tho. Your attention is appreciated.”
The increase in the number of addresses was so celebrated because of its impact on the cryptocurrency’s price. The general notion was that as the usage increases, it creates a demand influx for TRX thereby boosting its price. During the last bull run, Tron jumped back into the top 10 club but that joy was short-lived. The cryptocurrency is currently in the 13th position on the CoinMarketCap charts.

Justin Sun, the Chief Executive Officer [CEO] of the Tron Foundation has asked users to keep faith in the utility of the token. He claimed that as long as use cases for the token flourishes, a price hike will follow soon.

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Steemit

Steemit & Tron Partner Up, What Will Happen Next?

  • Steemit has announced at the end of last week that it will be partnering up with the Tron platform. 
  • The two companies will start working together in order to solidify Steemit and it’s blockchain-based decentralised applications with the blockchain on Tron.

The decentralised blockchain-based social media platform, Steemit announced at the end of last week that it will be partnering up with the Tron decentralised platform. The two companies will start working together in order to solidify Steemit and it’s decentralised applications with the blockchain with Tron.

The official release revealed that the two firms are set to use both of their services and products to help users. The Tron Foundation is bringing on board more than 20 million users to access services and products which are being offered by Steemit.

However, on the other hand, Steemit is going to be bringing in more than 1 million users into the community. This is, of course, a massive difference however, the two bodies will be offering different services to the users in question. This partnership will result in a strategic alliance between both Steemit and Tron. 

As it is a social media-based website, Steemit rewards its users with the STEEM cryptocurrency for making content published on the website. 

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Tron

TRON Virtual Machine To Get Three New Features

  • TRON’s CEO, Justin Sun, tweeted that the TRON Virtual Machine will get three new features as proposal number 32 was approved.
  • Justin Sun and the TRON foundation’s moves have changed a lot of things in the virtual machine system.

TRON’s CEO, Justin Sun, tweeted that the TRON Virtual Machine will get three new features as proposal number 32 was approved. The new features of the TRON virtual machines will be support for parallel signature verification, multiple signature verification, and judge whether the address is the contract address.

TRON is one of the largest blockchain-based operating systems around the world. TRON has a high throughput, high scalability, and high availability.

TRON also has a wallet that supports TRX and other tokens on the TRON mainnet, which is available to download for various clients through their website.

The explanantion of the new features is given below:-

  • Support parallel signature verification in TVM:  The keyword that is to be used in the contract for parallel signature verification is ‘batchvalidatesign’.
  • Support to judge whether the address is a contract address in TVM:  The developers may face the problem of calling another contract in a contract, in the development of smart contracts. But in some contracts, the contract may not want to be invoked by any other contracts. This call can be restricted, and that can be done by using the ‘isContract’ command.
  • Support multi-signature verification in TVM:  The TRON blockchain supports the feature that lets an account use the multi-signature feature, and this is used a lot of time in scenarios such as permission control. Now the Virtual machines will also support the multi-signature feature. But the multi-signature will only support a maximum of five private key signatures.

This will further enrich the application scenarios of smart contracts. Justin Sun and the TRON foundation’s moves have changed a lot of things in the virtual machine system, and the users with open arms have welcomed these new features.

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Tron

Tron News Today – Headlines for February 21

  • Tron has lost more than 10% in the last 24-hours
  • The coin has continued to slip amid an overall poor sentiment
  • Justin Sun’s acquisitions to boost adoption haven’t paid off

Tron News Today – digital currency protocol, Tron’s price has dropped by over 10% in the past 24- hours, has today continued to slip even further down the charts in its ranking. The digital asset which wasn’t ranked among the top ten largest coins by market cap until recently has dropped to number 15 since this decline began. The most recent results for Tron have come despite the continued efforts of Justin Sun to foster growth in the Tron ecosystem with many new acquisitions.

Stiff Competition for Tron

Sun’s efforts to see that his brainchild Tron becomes a success once more has instead ensured that Tron’s native token TRX rallies only in the short-term. It appears that the digital asset has then withdrawn after the news of the decline phased out. What this implies is that even though the digital asset manages to perform well and enjoy some ‘bullish occasions’, it also nearly finds it difficult to extend this situation or climb higher. It lacks consistency.

In contrast, competitors Tezos and Chainlink have been consistent. After many weeks of rallying, both digital assets have successfully ensured that their market cap rose and now they are now sitting above Tron in the list of largest coin’s by market cap. Tezos has outdone other popular coins like Cardano and Stellar, to climb into the top ten. Meanwhile, Chainlink is just at the number 12 position with Cardano above it.

But Tron, on the other hand, could be phased out if it doesn’t rise and act more competitive against the other coins. Just like Ethereum Classic, NEM and IOTA, which were once ranked high but now only feature above number 20, Tron could act like these and follow their trend.

Sun’s Acquisitions Haven’t Paid off

Finallythe main reason why Sun’s acquisitions phase-out quickly remain to be seen. While the Tron chief continues to expand his coin’s ecosystem (as we can see from his previous acquisitions), none of these have paid off in a huge way. And with no long term plan, the projects he acquired or partnered with means nothing. These projects only create hype for the network which in turn drives in just short-term gains for TRX.

The only project that has long-term strategic partnerships is Ripple. Ripple looks for other protocols that make sure adoption comes to XRP as well as more use cases. In most instances, the XRP digital currency doesn’t make short term change. However, space places more trust in it especially on notions that it will come to the top for the long-term.

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