TRON founder Justin Sun eyes top 6, aims to take Ethereum’s business
With its mainnet launch imminent, TRON foundation founder Justin Sun has given a progress report to his community detailing ambitious plans to take the cryptocurrency firmly into the mainstream.
Saying that he was “happy to say that as of May, TRON is now one of the top 10 cryptocurrencies in the world,” Sun revealed that his team now has the top 6 in its sights. TRON briefly achieved this ranking earlier in the year and the goal is to retake, and hold, that position. To get there TRON’s market cap would have to exceed that of IOTA and Stellar, and then surpass Cardano and Litecoin, which have exchanged 6th position for most of this year.
Should they achieve this prominence, Sun believes that it will conclusively show that TRON is a “mainstream public blockchain”, with “a solid foundation for competition with Ethereum.”
Sun characterises the TRON team as younger and more professional than its rivals, an agile organisation compared to its “stagnant” competitors. He says that this year they will bring their “young, professional approach, one that embraces change, into the lax and conservative structure of old.”
TRON’s principal target in this ambitious expansion is Ethereum, whose users it is targeting directly. This month the TRON foundation will launch TronVM v0.1 which “will enable complete compatibility with the Ethereum VM”. This means that “all Ethereum developers will be able to use an adapter to migrate seamlessly from Ethereum dApp projects to TRON”. Such migrations won’t just be easy, they’ll be rewarded.
The end of the month will also see the launch of TRON’s mainnet (v. Odyssey 2.0). According to Sun, “stringent benchmark tests” indicate that it “achieves a TPS that is hundreds of times above Ethereum.”
Sun sees these new developments as a way for the industry “to break away from Ethereum and its low-efficiency, congestion-prone network, high fees, and steep learning curve,” and “open the doors to a new cryptocurrency stage focused on scaling and commercialization.”
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