Yesterday we reported that Justin Sun, Tron founder and CEO, expressed optimism for Tron(TRX) during the second half of 2019. Today, Justin announced via twitter that Tron will launch Sun Network on August 10. He stated that this new network will work towards improving the scalability of the existing blockchain. Justin opined:
Sun Network Master Plan
The synopsis published on Tron.Network for the soon-to-be-launched Sun Network reads:
“Sun Network Plan is an expansion plan for TRON main network ecosystem, including smart contract application-oriented side chain (DAppChain), cross-chain communication and other expansion projects.”
According to this publication, DAppChain is a side chain expansion feature interrelated with Tron’s smart contracts which ensure that DApps operate at high-efficiency and maintain high security all while consuming negligible amounts of energy.
Additionally, version 1.0 of the Sun Network will use DPoS mechanism to make sure there are transaction consensus and correctness. The smart contracts on the main chain and the side chain will ensure tight security of users’ assets and smooth transfer of funds between different chains.
Another noteworthy feature of this upcoming network is that it will provide costless transactions. Also, confirmation for these transactions will take place at a faster speed. The article notes:
“With different parameters, DAppChain smart contract transaction can increase the maximum execution time of the transaction by 10 times or more from 50ms, thus supporting complex intelligent contract transactions.”
More Good News For Tron’s DApps Space
On August 2, Tron Foundation announced via twitter that 24 new DApps had been added,making the total number of DApps on the Tron blockchain 545. Tron Foundation also said that the transaction number and smart contract had also increased.
Tron (TRX) Market Watch
Even with this big announcement that will surely be a game-changer for the DApps space, the price of TRX has not gained much to bounce back from the recent lows. The market capitalization of the total TRX in circulation has also not improved by a significant margin as TRX is ranked at the 13th position with a market cap of $1.5 billion based on data from CoinGecko. TRX has gained 3.97% in the last 24 hours to trade at $0.02320.
Albeit TRX bulls have not gained much steam to ignite a decent recovery yet, in the long-term, the scenario could be different. Recently, data from Dapp.review revealed that the Tron network outshines Ethereum in the DApp segment.
Consequently, the Tron DApps have spurred on the mass adoption of TRX and also the smart contracts on the Tron platform. Tron’s growing dominance in the DApps industry could further help TRX fortify its strong position in the crypto market in the near-term.