Tron’s Sun Network Kicks Off with Justin Sun Promising Unlimited Scaling Options

  • Yuri Molchan
    📰 News

    👾📣Tron’s founder announces the release of the Sun Network testnet, aiming for it to have a positive impact on the whole DLT industry🔛💿


Tron’s Sun Network Kicks Off with Justin Sun Promising Unlimited Scaling Options
Contents

On Tuesday, Tron CEO Justin Sun posted a tweet about the Sun Network going live and promised to create an ‘unlimited scaling capacity’ that Tron users will be able to enjoy.

Tron reaches another crucial milestone

The former-top ten currency Tron (TRX), which as 2019 arrived, was pushed back to position 12 on CMC, keeps working to add major improvements to the Tron ledger. It has been aggressively developing in the sphere of dApps, outperforming Ethereum along with EOS and also conducting numerous other upgrades.

Besides, recently, hype around Tron and its CEO rose tremendously after Justin Sun won a charity dinner with investment guru, Bitcoin-unfriendly Warren Buffett.

Now, a major launch has been announced by Justin Sun, after promising this a while ago. Many expect the Sun Network to be a real game changer for the crypto and DLT industry.

The Sun Network

The new long-expected product will increase the number of TPS and will also improve smart contract operations on the network. Other improvements are also expected to take place.

When the Tron founder spoke about the upcoming mainnet launch earlier this year, he mentioned that it will not need any upgrades once it comes out. Besides, he assured the community that the work of dApps will not be affected in any manner.

The community met the Sun Network’s release eagerly, hoping that it would make the TRX price skyrocket soon.

👉MUST READ

Crypto Experts Voice Wild Litecoin Price Predictions. Is $1,000 Even Realistic?

Crypto Experts Voice Wild Litecoin Price Predictions. Is $1,000 Even Realistic?

Tron’s market position

Despite the numerous developments and upgrades made by Tron, its native coin TRX still holds position 12 on the top-20 CMC. Earlier, Justin Sun promised that TRX would be back on the top-ten list in June 2019.

At press time, TRX is sitting at $0.0314, showing a 1.63 percent rise.

Tron’s market position
Cover image via www.123rf.com
Subscribe to the official U.Today Telegram channel. Get news first!

About the author

Yuri has worked in crypto since 2017. A translator, quickly became a crypto enthusiast. He has worked for several Telegram channels covering cryptocurrencies. Currently is a news writer, covering crypto and blockchain-related topics.

👓 Recommended articles

Wall Street Is Extremely Bullish on Facebook’s Cryptocurrency  


Wall Street Is Extremely Bullish on Facebook’s Cryptocurrency  
Contents

Social media juggernaut Facebook is about to launch its Libra cryptocurrency, which, as expected, is currently on everyone’s lips.

According to a recent CNBC report, financial analysts appear to be on the same page when it comes to bullish Facebook predictions.   

👉MUST READ

Facebook Could Rake in $19 Bln After Rolling Out Its Cryptocurrency: Barclays

Facebook Could Rake in $19 Bln After Rolling Out Its Cryptocurrency: Barclays

The talk of the town

There is a schism in the cryptocurrency community concerning Facebook’s foray into crypto. While some think that Facebook undermines Satoshi Nakamoto’s vision of a decentralized cryptocurrency, prominent influencers, including Mike Novogratz and Anthony Pompliano, look at the bright side.

On the flip side, major Wall Street players seem to agree that Facebook’s stock will see plenty of love once the company unveils its much-talked-about crypto project.

SunTrust, MoffettNathanson, Bank of America stick with a “buy” rating on Facebook.

MoffettNathanson goes as far as claiming that the Mark Zuckerberg-led company aims to become the biggest e-commerce platform on the planet.

We believe a Facebook cryptocurrency-based payments system could be especially useful in countries with high inflation/unstable banking systems and for cross-country remittances. So, Facebook’s commerce ambitions do not appear to be limited to developed markets. Rather, Facebook has its eyes set on becoming the world’s leading ecommerce platform as well.”

👉MUST READ

'Facebook Coin' Ripped to Shreds by Cryptography Gurus

'Facebook Coin' Ripped to Shreds by Cryptography Gurus

Not the right company?  

As reported by U.Today, Facebook joined forces with VISA, Paypal, and a slew of other startups that became part of the Libra consortium for a whopping $10 mln fee.

The company itself remains radio silent about its crypto ambitions, but there have been countless reports on that topic since December.

We are about to see a fiat-pegged stablecoin that will be integrated into Facebook, Instagram, and WhatsApp.

After being plagued with huge data scandals, Facebook will probably have a hard time convincing regulators to green-light its new cryptocurrency. Hence, it might be a promising idea, but not the right company to pull it off.

Cover image via u.today
Join our Telegram channel to get news even faster!

About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

👓 Recommended articles