TRON (TRX) Surges 16% Following Odyssey 3.1 Update As Founder Claims Network Will Be 200x Faster Than Ethereum (ETH)

The price of Tron’s TRX coin surged by roughly 16% on October 8 after the TRON project announced its upgrade to Odyssey 3.1, promising the launch of dApps on the network and network speeds 200x faster than Ethereum.

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The price of Tron’s TRX coin surged by roughly 16% on October 8 after the TRON project announced its upgrade to Odyssey 3.1, promising the launch of dApps on the network and network speeds 200x faster than Ethereum.

Several changes coming to Tron (TRX)

Justin Sun, the CEO of Tron announced on October 7 that the network’s Super Representatives have been able to reach an agreement and several changes are set to be implemented on the network.

He first addressed the upgrade to TRON VM, called Odyssey 3.1, explaining that the new version would increase the number of transactions conducted on the network simultaneously and would make it “200 times” faster than Ethereum.

He further added that the upgrade would make Tron 100 times cheaper than EOS, making TRX the fastest and cheapest cryptocurrency in the world.

The changes to the Tron network also include the launch of the TRON Virtual Machine. This development would enable developers to test their smart contracts before they are transferred to the Tron main network.

He tweeted that the TRON Committee function and (Tron Virtual Machine) will be launched on October 7 at 8:00 PM and would commence the start of the smart contract Era.

TRX price surges following the announcement.

Sun also noted that TRX sentiment has been largely positive, leading to a strong rise in the price of the cryptocurrency.

The cryptocurrency continues to record gains and is looking set to challenge Monero for the 10th spot on the crypto market list.

On October 8, the token’s value surged to reach $0.027 which is roughly a 16% climb since the announcement was made on Sunday. It has, however, lost some of those gains and is now trading at $0.025 at the 11th position on the market cap list.

TRON (TRX) Surges 16% Following Odyssey 3.1 Update As Founder Claims Network Will Be 200x Faster Than Ethereum (ETH)TRX has most of its trading volume concentrated on Binance. The fiat pairs introduced on Bitfinex for the cryptocurrency could also have affected its price.

The cryptocurrency makes up 3.3% of all crypto trading, which is relatively big for an altcoin.

Even though it is not as popular as Bitcoin or Ethereum, it is still amongst the top 10 in terms of social media mentions. The cryptocurrency is also gaining attention from some mainstream platforms like NASDAQ and Investopedia.

Despite its recent rise, TRX is still considered under-priced as it remains 91% below its all-time high.

There is optimism throughout the crypto community that the cryptocurrency will record massive gains before 2019.

Sun’s claim refuted at Hackathon

During his recent interview with Investopedia on October 5, Justin Sun claimed that Tron’s developer community is more vibrant and active than Ethereum.

Sun’s claim was put to the test in the recent Hackathon held in San Francisco which saw more than 1,000 developers explore on applications and scaling solutions on Ethereum.

User activity, transaction volume, network activity, and number of dApps all indicate that Ethereum is still far ahead of Tron and its community.

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