Among the relatively newer currencies that are making inroads in the current crypto-market, TRON’s name would certainly be on the top of the list. Since its inception as a legitimate cryptocurrency in September 2017, TRON has been the cause célèbre of the cryptocurrencies to the traders all across the globe because of its uniqueness. It was the first currency to provide a decentralized system for its users to access various entertainment contents without the exasperating interference of popular websites like Yahoo. Consequently, it grabbed the attention of several potential novices as well as experienced traders as a lucrative and long-lasting opportunity as none can deny the profound relevance of the entertainment industry nowadays.
TRON is one of the very few cryptocurrencies that maintains active communication with its community members about the recent developments. As a result, traders around the world can always access the information about this currency’s latest updates. In the previous weekly reports, the development team of TRON foundation mentioned about various aspects such as the Mainnet launch. On May 21st, 2018, TRON released their latest weekly progress report consisting of their latest upgrades. Here, those new developments would be explained to provide a picture of TRON’s and its holder’s probable future.
Major Technical Developments:
TRON’s team has been working on numerous upgrades tirelessly for the past few months. According to the last weekly report, they have managed to complete a large portion of them. The completed developments include:
- Improved Scalability: The development team successfully completed their job of improving the scalability of TRON’s ecosystem. They have rectified the compilation errors and bugs existing in their network and synchronization modules thereby increasing the transaction processing speed considerably.
- Improved Consensus: TRON team has updated the consensus by adding the mechanism of Token Freeze and VotesStore. They have also completed implementing additional freeze functions successfully.
- Updates in the Wallet: The TRX wallet has undergone several new upgrades during the past week. The format of website URL, token description, and account name.
Apart from these three major completed upgrades, TRON announced several other technical updates in their report that are currently in progress. These updates include:
- Structural Developments: Setting up stress tests and fixing any compilation error or bug that occurs while the system is active.
- Consensus Developments: As the VotesStore and Token Freeze mechanisms are implemented successfully, now it’s time to determine the test relevant code and the values of various parameters of each mechanism. TRON team would engage themselves in this work in the imminent weeks along with the job of fixing any potential bug.
- Wallet Developments: The team behind TRX would now work on adding unit tests and adjusting the API on TRON wallet.
Developments Regarding Market Transactions:
On May 15th, 2018, Zebpay announced the availability of TRX/XRP trading pair on their platform. As a result, TRON was successfully included to the Ripple trading area. Zebpay is one of the largest and most renowned cryptocurrency exchanges in the world at the moment. This India-based exchange has recently released its upgraded version 2.0 with several new advantageous features for traders across the globe. So, the inclusion of TRON with Ripple to this exchange is likely to boost TRX market cap and price significantly. With this phenomenon, now TRON is listed on more than 50 major exchanges with over 100 trading pairs.
Other Notable Developments:
Besides all updates regarding the market transaction and technical architecture, TRON has managed quite a few feats in the previous week. Some of them include:
- TRON managed the first position last week according to the TokenInsight Index on May 14th by officially submitting their codes 241 times on GitHub.
- TRON holders are conversant with the TRON Super Representative election. As of May 14th, 2018, approximately sixty different organizations have expressed their wishes to run for this election. The TRON Super Representative election is scheduled to be held on June 26th of this year.
- On May 15th, the TRON Foundation officially launched their more user-friendly website.
- TRON commenced a collaborative partnership this week with Bitpie wallet. Currently, Bitpie’s internal exchange is allowing TRX transactions along with trading pairs like TRX/ETH or TRX/SCNY.
- On May 17th, Bixin opened the TRON flash exchange function for TRX/BTC trading pairs.
Current Scenario of TRON:
As of May 22nd, 2018, TRON now holds the ninth position on Coinmarketcap with a formidable market capitalization of 5.3 billion USD (approximately) and a price equivalent to $0.08. Because of the imminent Mainnet launch on 31st May 2018, the price chart of TRX is exhibiting a steadily upward trend.
Final Thoughts:
TRON is indubitably one of the most organized and meticulous cryptocurrencies that currently exist. Right from the beginning, the TRX development team has been following their destined path that continues for the next few years. So far, they have managed to fulfill every upgrade mentioned in their whitepaper. As the Odyssey phase is now on the move and the Mainnet launch is just a few days away, TRX holders can be hopeful of a price surge in the imminent 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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