Tron (TRX) Remains Ahead Of Cardano (ADA) In Total Market Cap For The Second Day Running
TRX Remains Ahead Of ADA For The Second Day Running In Terms Of Total Market Capitalization
It has now been nearly 36 hours since Tron (TRX) was able to beat out Cardano (ADA) to take control of the number 10 spot by overall market capitalization. As a result of this, TRX has been able to move past other premier assets such as Monero (XMR), IOTA and Binance Coin (BNB).
Additionally, at press time, TRX’s overall market capitalization is around $30 Million more than that of ADA.
What Caused TRX To Surge Suddenly?
While there is no one reason as to why TRX experienced such amazing market support over the past few days, many have pointed out that the recent Tron network update (dubbed Odyssey 3.2) could have been behind this surge,
Some of the core additions of Odyssey 3.2 include:
- A stable and more secure in-memory database.
- New TRC10 token capabilities for the TVM.
- New module to improve resource delegation
Other factors that many analysts claim could have been behind TRX’s amazing run include:
(i) Adoption of zk-Snarks: Recently, the Tron foundation announced that their ecosystem would soon be adopting zk-SNARKS in an effort to enhance network privacy (by the first quarter of 2019).
On the matter, Justin Sun of Tron noted:
“First of all, I think that transparency [on the Tron blockchain] is very important…and also the governance. That is how people have trust in this network. I think privacy is also important for the network. So that’s why I think in next year, Q1, we will adopt the zk-SNARKs into our network. So zero-knowledge proof into our network…This is how we can improve the privacy of the whole network.”
(ii) Transaction Throughput: Over the years, the Tron network has consistently been able to prove itself in terms of handling millions of transactions per day. According to latest statistical data, during a 24 hour span, the TRX ecosystem was able to facilitate a total of 1.96 Million txs.
Rounding off this article, it is also worth noting that on December 1, the Tron network was able to record a total of 2.4 Million transactions (which is a very high number when compared to ETH’s tx throughput of 600,000 transactions).