TRON’s TRX token is currently up by nearly 7 percent in the last 24-hour period. According to CryptoCompare. Its market cap is now over $4.8 billion thanks to the surge, which has been fueled by the launch of a new website, an increasing number of crypto enthusiasts wanting to be a part of its community, and speculation surrounding its mainnet’s launch.
Justin Sun, founder of the TRON Foundation, tweeted on May 9 that TRON will be launching a virtual machine on May 25. According to a blog post published by TRON Labs, the virtual machine will allow for “complete compatibility” with Ethereum’s virtual machine. What this means is that DApps (decentralized applications) built on Ethereum’s blockchain would be able to migrate over to TRON’s network.
Backed by a young, professional, adaptable team, $TRX is officially in #crypto top 10, aiming for top 6. Stay tuned for 5/25 TronVM 2.0, 5/31 Mainnet, 6/26 SR Election, and more. 2018 is just the beginning. Watch us take the world by storm. #TRON https://t.co/1X0PNGKnEH pic.twitter.com/D1wqeMlmqy
— Justin Sun (@justinsuntron) May 9, 2018
TRON’s Tall Claims
Justin also mentioned in his pinned tweet that the TRON mainnet would go live on May 31. The May 9 medium post states that TRON’s mainnet, called Odyssey 2.0, will be able to process transactions “hundreds of times” faster than the Ethereum blockchain.
It further claims that TRON’s blockchain will be highly stable and users will not be charged fees to use its decentralized network. Moreover, the post also claims that TRON’s platform will be more “developer-friendly” because it uses the Java programming language.
By reportedly providing a more user-friendly platform, the creators of TRON confidently assert:
“[We] will be able to break away from Ethereum and its low-efficiency, congestion-prone network, high fees, and steep learning curve. We will open the doors to a new cryptocurrency stage focused on scaling and commercialization, providing next generation infrastructure and express lanes needed for global dApp development.”
For now, these are all tall claims, since TRON’s mainnet has yet to launch. TRONIX’s marketing team, led by Justin Sun, is seemingly focusing on downplaying the accomplishments, legitimacy, and credibility not only of the Ethereum blockchain, but also of other cryptocurrency platforms in general. In fact, an excerpt from TRON Labs’ medium post refers to other digital currency platforms as “stagnant”:
“Now that we are in the top 10 [crypto platforms], each move up will signify a significant change in the cryptocurrency structure. TRON is the youngest of the ten, but we are the most professional…Compared to most stagnant crypto companies, TRON is agile and embraces change.”
Similar to EOS, which aims to be the world’s first decentralized and free to use operating system, there’s definitely a lot of hype around this crypto, and both platforms haven’t yet proved anything as they’re are still in their developmental stages.
Meanwhile, Ethereum co-founder Vitalik Buterin continues to ridicule the TRON community by pointing out how previous versions of their whitepaper were plagiarized.