Tron Is Getting Ready for 4.0 While Ethereum 2.0 Is Struggling for A Launch Date

Tron founder and CEO Justin Sun is yet again challenging his nemesis Vitalik Buterin co-founder of Ethereum with the latest announcement.

On May 23, Sun took to Twitter to write three magical words that got both sides to start dissing each other. These three words involved nothing more than “Tron 4.0 is coming.”

Although no details are shared, the fact that Tron is on its way to 4.0 version while Ethereum hasn't even released 2.0, whose launch date has been delayed numerous times, has the community congratulating Sun.

Start of the Alts rise

Some are ecstatic about this development while others are calling for a pump.

The 16th largest cryptocurrency by market cap is currently trading at $0.150, up 3.44%. So far in 2020, TRX reported gains of just over 11% but is still down 95% from its all-time high.

Meanwhile, the second-largest cryptocurrency is trading at $206, up 2.22%. Down 87% from its peak, Ether has recorded over 58% gains YTD.

Eth 2.0 testnet gaining support

There is also a group that is not feeling Sun’s latest announcement.

“When you try competing with ETH 2.0, so you invent some bogus update for your shitcoin,” wrote Crypto Whale.

Eth 2.0 is still struggling with its launch date which was already rescheduled, after many times for June 2020 but this again is “carefully” optimistic.

This delay involves fixing the bugs, multi-client paradigm, and management problems among other issues.

However, the Ethereum 2.0 testnet Topaz run by Prysmatic Labs is making a lot of progress. Nearly 30,000 validators are now staking over a million ETH, worth more than $200 million.

Although Prysmatic Labs remains a major contributor to the project, controlling 47% of the network, this domination is slowly decreasing, already down from 53% from the beginning of May. Crypto exchanges like OKEx are also becoming validators to stake Eth and keep the testnet running.

Eth 2.0 is a complex upgrade and has been in the works for many years now. This upgrade will make the blockchain more scalable, essential for the network as it is running almost 100% at capacity. The transition from PoW to PoS will also allow users to stake their funds, the first milestone of this phase.

Growing Networks

Amidst the increasing interest in Eth 2.0 testnet, the number of addresses holding more than 100 coins have reached an all-time high of 47,722 on May 21.

Also, the unique Ether addresses are close to reaching 100 million, currently at 98.25 million addresses, as per Etherscan.

Meanwhile, the total number of accounts on the Tron network has surpassed 5.9 million, as per Tronscan. The number of Dapps on the network has also climbed to 763.

“The TRON ecosystem is growing at a steady pace, we welcome more developers and users to join our community,” said Sun about the ongoing developments.

TRON (TRX) Live Price

1 TRX/USD =$0.0163 change ~ -4.63%

Coin Market Cap

$1.09 Billion

24 Hour Volume

$130.28 Million

24 Hour VWAP

$0

24 Hour Change

$-0.0008

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

AnTy
AnTy
AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,440FansLike
2,795FollowersFollow
4,189FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

China’s Largest Mining Chip Maker, SMIC, Gains Regulator’s Approval On $2.8B IPO

One of China’s biggest semiconductor manufacturer, SMIC, announces plans to raise a $2.8 billion public sale IPO on the Sci-Tech Board of the...

Bitcoin Flash Crashes to $8,600 with BitMEX Shenanigans at Play Again

Bitcoin doing bitcoin things! Today, Bitcoin had yet another moment like March 12, although the price didn’t crash that low. https://twitter.com/100trillionUSD/status/1267835341987340288 Yesterday, Bitcoin jumped as high as...

AVA Labs Integrates Chainlink’s Decentralized Oracles to Improve DeFi Dapps Development

AVA blockchain, becomes the latest platform to add Chainlink, a decentralized oracle system to its platform. The integration of Chainlink to the Dapp blockchain...

Binance Korea to Improve KYC/AML Framework With Coinfirm's Compliance Solution

Binance South Korea unveiled a unique partnership with Blockchain analytics firm, Coinfirm that will help Binance remain compliant with the strict AML framework...

2nd Largest BTC Mining Pool, Poolin, Collabs With BlockFi, To Boost Crypto Lending Service

Poolin and BlockFi have formed a partnership as the latter aims to extend loans to the mining pool. Bitcoin (BTC) and mining equipment...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today