Tron Reenters Top 10 Coin Market Cap After Its First Independence Day Anniversary
- Tron celebrates the first independence day anniversary
- A year ago, Tron was launching its blockchain network and leaving the Ethereum network behind
Tron (TRX), one of the top 10 largest cryptocurrencies in the market, was able to come back to the top 10 after its first independence day. At the end of June 2018, the Tron blockchain became independent from Ethereum (ETH) and it launched its own blockchain network to deploy decentralized applications (dApps) and help companies build on top of it.
What’s Happened During This Whole Year?
During the last year, not only Tron, but all the cryptocurrency market expanded in terms of fundamentals. Many networks registered fast growth rates and Tron was one of them.
During this last year, many important milestones were achieved by Tron, including the implementation of Super Representatives, voting and governance, the acquisition of BitTorrent (BTT), partnerships with Opera and Binance, reaching 3 million accounts and many other things.
In 1 year TRON has:
– Implemented SR voting & governance
– Acquired @BitTorrent
– Launched $BTT
– Partnered w/ @Opera, @Binance & more
– 2 stablecoins live
– Hit 3M accounts
– Given $9M to charity
– 490 DApps, $100M 24H vol & 300,000+ weekly users
— Misha Lederman (@mishalederman) June 24, 2019
About the virtual machines, Sun commented at the time of the Independence from Ethereum:
“We launched our first version of the virtual machine on May 25th, which is fully compatible with Ethereum’s virtual machine environment. Developers can use Solidity to develop, debug, and compile in a familiar Remix environment without having to learn a new coding language.”
On July 31st, the first official version of the Tron Virtual Machine (TVM) was launched, allowing developers to work on decentralized applications that are better than Ethereum and can unlock a powerful decentralized ecosystem.
On June 26th, Tron conducted the first SR election that allowed the community to have its governance improved. This governance mechanism is based on democratic elections and with the intention of providing the network “popular sovereignty.”
Another important milestone for the Tron network is the acquisition of BitTorrent, that launched the BTT network. The Tron Foundation acquired BitTorrent in order to help the network grow and implement a new BTT token that would help reduce download times and make the overall user experience much pleasant.
During this year, Tron has also launched the Sun network that is expected the help the whole network unlimited scaling opportunities. This is going to be very important for the TRX digital asset that has to deal with a large number of transactions and decentralized applications.
At the time of writing this article, Tron is the 10th largest digital asset in the market with a price per coin of $0.039318 and a market capitalization of $2.62 billion. In the last 24 hours, Tron registered a price increase of 1.88% according to CoinMarketCap.
Justin Sun has also announced on June 24 the listing of Tron perpetual contracts on BaseFEX, a crypto derivative exchange. The price of this index is going to gather data from Bitfinex and Bittrex. Users would also be able to trade perpetual contracts for up to 50x leverage.
— Justin Sun (@justinsuntron) June 24, 2019
In addition to it, the Tron Weekly Report has shown that the digital currency has finally caught up to Ethereum. This shows that the Tron network continues to improve its adoption. The total number of transactions surpassed 470 million after registering an increase of 6.62 million transactions this week.
In terms of decentralized applications, they have experienced impressive growth since the total number of dApps on Tron was 45 and the dApp DAU was 363,000.