TRON (TRX) Adds Another Exchange But Will It Deliver Or Is It Just Hype?
The TRON Mainnet is Live and what remains is for the expected TRX migration to be completed by 25th June. Shedding the ERC-20 tag has been one of TRON’s main goals since they announced their Testnet back in March.
And now that the journey to independence is finally around the corner, one big question to ask is whether Justin Sun and the Foundation have enough to deliver for its community.
It’s been a rollercoaster few months, and the expectation of every TRX holder has been that its value will skyrocket. The decline that preceded and followed the mainnet isn’t completely out of place, but does the team have enough to push the platform ahead of current leader Ethereum?
The Indodax crypto exchange has added TRX-Rupiah pairs and trading begins on June 5th. Another exchange means more visibility and more accessibility.
Take nothing away from Justin Sun and team. He’s a brilliant mind and the team is one of the top personalities in the blockchain industry. Their lofty ambition to be the best crypto project – decentralize the web- has seen it garner a huge community of supporters.
Why TRON should be on top or will it?
At the time of the Testnet launch in March, TRON’s CEO revealed reasons why the platform should be regarded as better than the 2nd largest cryptocurrency by market cap. Back then, he said:
“Why #TRON is better than #ETH: 1. 10000TPS vs. 25TPS 2. zero fees vs. high fee 3. consistent Coinburn vs. no coinburn 4. Java vs. Solidity 5. strong extensibility vs. no ex. 6. 1 billion USD developers rewards vs. no plan 7. 100 million users vs. small number #TRX $TRX”
Most of the seven reasons would put TRX ahead of ETH anytime; supplanting it from the top and only Bitcoin (BTC) would stand before it.
When the Mainnet launched, the aggressive marketer also tweeted a similar comparison. However, this time there were a few adjustments made. And that’s where the big questions come in. should it be on top or is it just marketing hype?
“Why #TRON is better than #ETH: 1. 2000TPS vs. 25TPS 2. Popular sovereignty of token vs. Authoritarian rules 3. 100M Dapp users vs. Thousands 4. None fees vs. High fees 5. Coin burn vs. No coin burn 6. $2B bonus vs. Zero 7. High scalability vs Poor scalability #TRX $TRX”
The 10,000TPS has been revised to 2,000 against ETH’s 25TPS. What necessitated this reduction is what the community needs to know. Is it that the numbers are randomly picked?
The other point is that TRON has a higher scalability against a “poor” one on the ETH network. The mainnet is in beta and will soon be flooding with dApps, but will the throughput stay the same or be adjusted downwards?
Then there’s the $2 billion developer reward program. This is a huge one and the primary channel through which the platform can establish itself and reach greater heights. If Ethereum with no such incentives has managed to deliver what it has, then TRON should do much better with such colossal amounts of money.
The team seems to be doing that already, emerging top in Q2 for GitHub commits. The Mainnet launch recap shows that the Tron Odyssey has “accumulated 2153 commits, merged 547 forks, released 15 software iterations and added 102 new features”.
Will TRON (TRX) keep rising?
In April, TRON revealed that they cared less about the price of the TRX token. To them, climbing the ranks to the top meant more than the value of the currency.
That has happened as the platform has made it to the top 10 and could yet climb higher. Tron will have a total supply of 100 billion TRX. Currently, there are 65 billion in circulation. It is expected that the team will keep heed of the coin burn to bring down the supply.
But will the coin burn yield the desired effect quickly enough for investors to benefit? A total of 1024 TRX will be “burned” when launching new contracts on the network. It’s also likely that 0.1 TRX will be burned to create a new receiving address. Is this enough? With 100 million dApps users, it can over time.
The recent listing on Indodax, the largest exchange in Indonesia will play a big role as it looks to be accessible to more people. It’s moving in the right direction, but does it have enough to deliver?