Tron Dominates The DApp Space Leading to Increase in Transaction Volumes

Recently, the Tron Foundation released its DApp review, and it shows Tron’s dominance has grown in the sector. Two new dApps (decentralized applications) have been added to the ecosystem.

When the Tron Foundation, revealed the details of its latest dApp Review, it was discovered that the network’s dominance in the dApp space has grown exponentially. It was also discovered that there was an increase in the use of smart contracts. The number of smart contract usage reportedly surged to about 1362 in the past week alone.

TRON (TRX) Price Today – TRX / USD

NamePrice
bitcoin
Bitcoin
$7,925.15-1.75%
tron
TRON
$0.016-6.05%

TNS and Zethyr Exchange New dApps Added to the Space

As shown above the report from the Tron Foundation also highlighted that there is an addition of two new dApps to the dApp ecosystem. Two new dApps TNS (Tron Name Service) and Zethyr Exchange were added to the space.

The Tron Name service is the domain name system that is based on Tron’s Blockchain, where each domain name typically ends with “.tron.” The TNS dApp works for smart contracts. It is also capable of resolving any domain name and corresponding hash address.

TNS Reduces the Chances of Human Error, Zethyr Will Improve Security

One of the new dApps that was added to the dApp space, TNS, is believed to cut down the chances of human errors occurring. This product also makes it very easy for users to successfully navigate through a vast number of features on the Blockchain network. TNS is completely decentralized as well. Additionally, any node on the Tron network can also be used to view data that is relevant to any domain name.

As for the second new dApp, Zethyr exchange, it is a decentralized exchange. Zethyr is also based on Tron’s Blockchain. It is the second new dApp addition to Tron’s dApp family. This completely decentralized exchange promises to give high asset security. The solution will be one where only users will have access to their holdings/assets. Which in essence means more security.

This will be with zero trading fees. The users of the exchange will also have the option to stake the native token. Doing this will give them a chance to earn dividends weekly. With these two new solutions, we can agree that the Tron network has made many strides in the dApp space. It has extended its position as one of the top dApp providers.

Tron Has Seen an Increase in Transaction Volume Recently

Tron has had good reasons to make the headlines in recent days. Apart from having an increase in the dApp ecosystem, it is understood that the Tron network has seen an improvement in its transaction volumes recently as well. This can be attributed to the network’s previous traffic boosting models.

As of press time, the price of Tron’s native token, the TRX, was changing hands at $0.016. Currently ranked the number 14 largest crypto by CoinMarketCap, the token also has a market capitalization of $1.1 billion. Although, the price of TRX registered a 2.1% drop, as of when this content was published.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

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