As per schedule, TRON began its super representative election programme on 27th June with CryptoDiva as the first super representative. Manifestly, the significance of the technical and community developments that happened in this blockchain are likely to make a lasting impression on this coin’s future. TRON and its default currency TRX now have been trading for nearly 9 months in the crypto-world. As it is progressing piecemeal towards completing its one year anniversary in the cryptocurrency market, the TRX holders can expect more vigorous attempts to implement new features to this coin’s blockchain ecosystem.
Since Bitcoin’s downfall in January, TRON has been performing consistently over the past few months. However, in its second quarter, its price and market capitalization experienced a slight dip to the consternation of the numerous TRX holders across the globe. In order to ameliorate this situation, there have been constant technical and development updates over the past few weeks from both TRON development team and their CEO Justin Sun.
As this cryptocurrency has always been one of the most communicative and transparent ones in the market, the previous week wasn’t an exception as well. Here, the most recent TRX updates that occurred during the last week would be discussed illuminating the fact that why they should make a positive impact in TRON’s future.
Technical Developments Occurred During Previous Week:
- Structural Upgrade: In their previous weekly report, the TRON team mentioned commencing the paginated query of token issuance process. In the previous week, this process was completed successfully along with the pressure test of gRPC transaction generation. Last week the team also started the deployment process of Mainnet as well as improving the deployment documents. At the current pace, this deployment process is also likely to be completed next week.
- Upgrades on Consensus: In the past few days, TRX team managed to record transaction fees along with providing a comparison table of various transfer fees. However, their work on supplement test and improving relevant documents which started a few weeks ago is still in progress.
- Major Wallet Upgrades: TRON’s team have been working on multiple upgrades on its wallet. Among them, they managed to complete writing description of the HTTP service interface and adding interface of RPC transaction signature. With these two new developments, the TRON wallet should provide a more user-friendly and adept interface to the TRX holders. Also, the work on perfecting the support exchange sync-up along with creating germane documents on this matter is still on-going and likely to be finished shortly.
Major Community Upgrades:
- The TRX Airdrop on Binance: It is well known to the crypto-connoisseurs that Binance is the biggest cryptocurrency exchange in the market in terms of trading volume and popularity. The default cryptocurrency of this exchange, Binance coin (BNB) is also very popular among the crypto-traders. On 16th June of last week, TRON arranged an airdrop with BNB+TRX combination on this exchange to BABI financial community. Traders who participated in this airdrop were rewarded with a gift package of a 100,000 TRX and 100 BNB tokens from the WeChat and Telegram groups of BABI. This candy airdrop commenced on 19th June 2018 and continued for 7 days. As per multiple statistical analyses, TRON’s price increased a 100 times this year. Hence, this combined airdrop is likely to create opportunities for a similar increase in price in future.
- Launch of Crypto Strippers: On 19th June 2018, TRON R&D team announced the launching of a blockchain based experimental game application named Crypto Strippers. The initiative was taken in order to cater to the interminably growing online gaming industry. With Crypto Strippers, the investors would be able to buy gold coins and trade them as per requirement. The price of the gold coin would vary according to specific trading conditions. This new game application has already managed to grab significant attention from the traders. Just after 4 days of its launching, Crypto Traders managed to acquire the fifth position on the games list of DappRadar.
- TRON Independence Day: On June 19th, Justin Sun announced on his personal Twitter account about TRON’s Independence Day and the official launch of Mainnet. The Mainnet was launched as per schedule on 25th of June while the initiation was completed by TRON Independent Group (TIG). On this day, this digital currency also got rid of its initial ERC-20 coin status officially.
- The Super Representative Election: Even one week before the actual event, the process of enlisting for this programme continued ceaselessly. Last week, reputed organizations like 34rth, LinkVC, Bixin, Lianjinshu, Cobo, READ, and several others were enlisted for their active participation in this event occurring on 27th of June.
Partnership and Support:
During last week, TRON acquired active support from a significant number of exchanges and trading platforms for their blockchain upgrade. Some of these exchanges include CoinEx, CoinOah, Cryptopia, Bitbns, Coinbebe, KionEx, CEO.Bi, BIHUEX, IDCM, and many others.
Current Condition of TRON:
As of 28th June 2018, TRON holds the 11th position on Coinmarketcap with a price equivalent to $0.038 (approximately) and a market capitalization of nearly 2.5 billion USD. As per recent trends, TRON is following a slightly downward path which might be the reason for the giveaway. However, once the effect of this airdrop goes away, the scenario is likely to change rapidly.
Final Thoughts:
TRON has been one of the best performing coins in this year so far. Despite the fact that the current stats do not seem very promising, the recent technical upgrades combined with the repercussions of Independence Day should jolt TRON’s price to an upward direction. Therefore, the updates that occurred during the past few days should bode well for this currency’s future.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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