Tron (TRX) officially launched its main chain test network today, marking a big step forward in its aim to create an infrastructure to truly decentralize the internet. Over the past few weeks, the price of Tron token has almost doubled to $0.05. Tron also became one of the top ten coins on the basis of market capitalization, pushing back Monero and Dash.
However, it was unable to stay in the list of top ten cryptocoins due to an increase in profit booking, following rally in the past few days. In this article, let us look at the reasons for the recent rally and why the Tron community is very much excited about the testnet launch.
The launch of testnet was tweeted by Justin Sun, the founder of Tron network.
Recently, the Tron team successfully tested the transfer function, which allows transmitting content from one point to another through the Tron network, without any hurdles. It will enable Tron to grab a considerable market share in the entertainment industry as content creators would be encouraged to use it for getting rewarded without any hassles. Tron’s network simplifies the process of buying/selling content, while providing security to both creator and user.
Watch on #Periscope: #TRON testnet is launched! #TRX $TRX https://t.co/3G7jginnr5
— Justin Sun (@justinsuntron) March 31, 2018
Even the most talked about applications sometimes have bugs, which are misused by hackers or nefarious people. Tron has a dedicated team to identify and remove bugs in the network. The also have a successful track record of debugging the block generation system to ensure that nodes perform as expected.
The team is also working to speed up transactions within the network by implementing changes in the fork logic. Notably, Tron is already one of the fastest blockchain projects.
Using the testnet facility, developers can create and deploy smart contracts in an environment that is arguably better than Ethereum. As testnet is similar to mainnet, the success of testnet will be applauded by the market and the value of the token will begin rising in the days leading to the launch of the mainnet, which has now been prepended to May, instead of July. Furthermore, Tron is highly scalable and will have the lowest transaction fees, compared to similar platforms in the market.
Tron (TRX) is also expected to perform a coin burn today or in the days to come. As coin burns significantly reduce the supply of coins, it will generally have a positive impact on the price. Finally, the article will not be complete without mentioning about the marketing capabilities of Justin Sun, the founder of Tron. He has already made sure that Tron’s popularity reaches sky high by advertising on Nasdaq screen at Times Square.
Is this the advertisement of TRON, it was listed on Nasdaq, and the testnet. pic.twitter.com/4gMQM8mjIs
— Andy_lucky (@Andy1037470697) March 30, 2018
So, Tron community will be anxiously watching for a breakout in the days to come.