Tron (TRX) is again making the news. Barely a week ago, there were conversations about Tron’s aim of hitting 1 million daily transactions. Fortunately, the target has been achieved earlier than expected. Interestingly, the development comes just two weeks after breaking 500,000 daily transactions.
Available data from Tron network reveal that two weeks ago, the project was almost hitting the one million mark but marginally fell short at 900,000. However, after 14 days of address growth, the network rose to nearly 1.1 million daily transactions.
The CEO Contest: Payback Time
Just before Tron hit the 1 million daily transactions mark, Justin Sun, CEO and founder of the company, initiated a contest. He asked his followers to predict the precise date when Tron would hit the 1 million transactions per day target. He pledged to dole out some 5,000 TRX tokens to 5 random winners, meaning each would receive 1,000 TRX tokens. With the target reached, Justin had to announce who the lucky winners were.
Through a tweet, Justin Sun confirmed that Tron had achieved the 1 million daily transaction target and even surpassed it. He inched further and announced the winners of the contest, and the winners confirmed their winning on the same thread.
— Justin Sun (@justinsuntron) November 5, 2018
Tron Surpasses Ethereum
As expected, the July 2018 decision by Tron to acquire BitTorrent greatly contributed to the boost in its daily transactions. Additionally, the rise in the number of betting apps launching on the Tron Network has greatly contributed to the surge in transactions. Notably, within less than a month, TRONbet and TronDice have already exceeded the 200 million TRX payout mark.
Due to the developments, Tron’s traffic has increased and this implies that the traffic per day will logically upscale. Moreover, due to the increased volume on Tron network, it has managed to not only surpass Ethereum’s volume but has also surpassed it in traffic. Ethereum maintains only a little more than half a million transactions daily. However, from the market capitalisation standpoint, Ethereum still leads.
Tron has focused on redefining the entertainment industry by reverting power to the users. Their system enables users to create, store, and publish their own substance without any external interventions. In addition to that, the company has announced its intention to team up with JOYSO in the development of a hybrid crypto exchange platform.
Lately, Tron has made headlines for its Net Neutrality campaign which has undoubtedly sparked interest within the crypto community. Under the campaign, the Tron foundation is intent on improving internet decentralisation. It has been working to reduce the control imposed by large corporations such as Facebook and Google.
Expectedly, the net Neutrality project faces threats from a legislation sponsored by large corporations, and this has ignited a public outcry. However, Tron remains focused on enduring that the project comes to fruition. Recently, the company donated $10,000 to the Net Neutrality website.