Cryptocurrency Investments Tron Up in Down Market
March 30 2018 - 3:04PM
ADVFN Crypto NewsWire
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Bitcoin Global News (BGN)
March 30, 2018 -- ADVFN Crypto NewsWire -- Among the top 20
cryptocurrencies by market cap, Tron (TRX) seems to be one showing
the most resilience in the recent down market. As the total market
cap for all cryptocurrencies has dropped to around $300 billion,
with looming threats of a further drop, Tron is one of few altcoins
to show gains over past month.
‘Testnet’ is a beta run of the
‘main net’ launch that is expected to enable Tron to port their TRX
token over from the ERC-20 Ethereum standard. A successful break
away from the Ethereum blockchain will speed TRX transactions and
lower fees. Main net’s release date is scheduled for May 31,
2018.
Besides the upcoming testnet
launch, there has been a recent flurry of good news on the Tron
development front. From March 17 – March 23, 2018, the Tron dev
team initiated or completed four significant technical
developments: addition of unit test cases, general network
debugging, debugging of block generation logic, and a blockchain
explorer upgrade.
Tron is an entertainment industry
blockchain ecosystem that offers distributed storage for users to
publish their creative works peer-to-peer. Creative content remains
under control of the creator. With the elimination of third party
fees there is greater potential for profit.
TRX (market cap around $3 billion)
is an ERC-20 token that is stored in Ethereum wallets. There is no
official Tron wallet yet. TRX is heavily traded on Asian exchanges
Binance, Huobi, and Upbit, accounting for 5 - 12% of their daily
trading volume.
Tron was founded in 2017 by CEO
Justin Sun and the Tron Foundation. Tron ICO’ed on September 9,
2017 with a whitepaper that laid out six stages of roadmap
development, starting with the current ‘Exodus’ stage and ending
with the ‘Eternity’ stage in 2023. TRON was tokenized in late
2017.
Tron founder Justin Sun has been
exceedingly active on Twitter, tweeting several times per day with
a countdown to the March 31st ‘testnet’ launch. Sun’s unrestrained
enthusiasm is only matched by the gaudy boosterism on display on
Tron’s homepage at www.tron.network.
By: BGN Editorial Staff
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