Tron has been in the limelight recently for its recent development. Recently, the crypto project announced the launch of its new side chain solution – Sun Network. According to Tron, the solution will provide unlimited scaling capacity just like the optimism around Bitcoin’s Lightning Network. Nevertheless, many believe that these claims are just a marketing strategy.
Tron Launches Sun Network to Boost the Tron (TRX) Network – Cryptocurrency News Today
Tron announced the release of Sun Network version 1.0 on the 11th of August; a few days ago. The new solution promises to expand the transaction capacity of the network. There is an array of upgrades in the new release, such as DAppChain. According to the Tron Foundation, DAppChain would enhance the TPS (transaction per second) for smart contracts while reducing transaction fees. A cross-chain communication feature is also in the upgrade.
According to Justin Sun, the CEO of BitTorrent and Tron, DAppChain would provide unlimited scaling capacity for the blockchain of Tron. It would allow decentralized applications to run with higher security, lower energy consumption, and greater efficiency on the Tron Mainnet. Sun also promotes a series of selected metrics for Tron in addition to the speculations around Sun Network. In a tweet, Sun said:
“The total account number on the Tron Mainnet has reached 3 million. A total of 410 million secure transactions has taken place since the launch of the Mainnet.”
Is the Sun Network What Tron (TRX) Really Needs? – Cryptocurrency News Today – Cryptocurrency Market Update – Tron News Today
In July last year, the CEO of Tron (TRX) bragged that the Tron (TRX) network is eighty times fast than the network of Ethereum; this implies a network speed of 1,200 transactions per second. In June, Tron said the transaction per second on the network is 2,000. With these figures, the capacity of the Tron network would be about 100 to 170 million transactions per day. Whereas, the network, at its peak, is not processing more than 6 million transactions in a day; about six percent of the maximum capacity of the network.
This means that if the Sun Network increases the transaction per second, it may be largely unused. However, it would create more room for more resource-intensive apps. Tron (TRX) would also benefit from the lower fees the Sun Network promises to offer, as lower fees are better for blockchain network adoption.
However, the Tron Mainnet does not charge most users for transactions. Although other computing resources and bandwidth usage have fees attached to them. Nevertheless, projects can earn free credits for these resources by locking-up Tron (TRX). This sort of resource allocation is similar to the set-up of EOS.IO, where users carry out free transactions under a certain threshold.
This might be a huge addition to the Tron network. However, many believe the launch of Sun Network is just another strategy by Justin Sun to market the project. Nevertheless, the update comes with a lot of new features that could significantly boost the Tron network.
TRON (TRX) Price Today – TRX / USD
At the press time, Tron (TRX) USD live price is $0.0168 after a decrease of less than one percent over the past twenty-four hours. The current market cap of the digital currency is $1.12 billion. The trading volume of Cardano (ADA) over the past day is $502.49 million.