Justin Sun Tells Tron Investors to Expect Zero Transaction Fees for TRX Transactions Come Friday
The Tron community woke up to good news on 15th December: Tron transactions are cheaper than before, and charges will be scrapped entirely soon. The announcement came in a tweet by the Tron Foundation community and was immediately followed by a confirmation By Tron’s CEO and Founder, Justin Sun.
Transacting on the Tron Exchange Has Never Been Cheaper
Transaction fees on the Tron platform hit an all-time low of 0.1% at 7:00 UTC on 14th December. It ranks Tron among the cheapest platforms for cryptocurrency traders to operate. Soon, however, traders will not have to pay anything to transact on the network as the developers behind the Tron Market are finalizing plans to scrap all transaction fees by Friday (21st December).
One in Many Developments
The Tron platform has been growing and expanding exponentially since its launch. The platform has been announcing new developments every other week, and the recent announcement by CEO Justin Sun is just one among many.
One of the most significant developments for Tron came with the launch of two decentralized exchange platforms: the TRX Market and GOC. Both platforms were developed and launched by the TRX community in another testament to the crypto’s communal approach. The GOC platform was the first to launch and has been making advances in the crypto exchange markets. The TRX Market, on the other hand, launched on 12th December and it has already attracted a lot of attention, and more and more users are signing up. The TRX Market exchange platform currently features a few tokens including GOC, FUN, and BET – there are plans to list more mainstream cryptocurrencies once the platform becomes fully established.
Breaking News! 📢📢📢
The transaction fee of #TRXMarket has dropped to 0.1% at 07:00(UTC) on Dec 14th! 👏👏 And 0 transaction fee will be realized by next Friday, go trade: @ https://t.co/tflRhfOusM tele: https://t.co/TjFjcXhsk2 #TRON $TRX @justinsuntron @Tronfoundation
— TRXMarket (@TRX_Market) December 14, 2018
Tron dApps Taking Off
Another recent development (perhaps even more significant than the scrapping of transaction fees) from Tron is that the TRC20 Exchange is now live – it has been live for about one week now. Albeit relatively new, the TRC20 platform has already registered nine tokens – interestingly, analysis by Tronscan has revealed that all these tokens are for decentralized applications. Additionally, a recent audit shows that the number of decentralized applications (dApps) transacted on the platform have increased by over 50% and surpassed the 1M market – the current daily transaction statistics are 1.04M dApps.
Ethereum still holds the crown for the largest decentralized application platform as its ERC20 platform currently hosts over 2,000 dApps. Tron’s TRC20 platform is relatively new compared to Ethereum’s, but it is already shaping up to be a worthy competitor. For now, however, the Tron community has to attract enough users to put the platform on the charts – Justin Sun is urging Tron users developing their dApps on the ERC20 platform to migrate to the TRC20 platform arguing that it has better features for this particular niche.
Still Too Early?
The announcement by Justin Sun was expected to drive Tron’s prices up, but that has not been the case so far. This, however, is inconsequential as recent developments on the Tron platform prove that the crypto is in for the long haul.
Tron transactions are now more affordable than ever before as charges were dropped to just 0.1% today. Friday bears even better tidings as the Tron community has announced its intentions to scrap transaction fees altogether.