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Tron (TRX) daily transactions surged 58% in Oct, will Nov be the same?

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The era of Tron (TRX) alike value-adding cryptocurrencies makes it is easy for the borderless settlements of funds and value. However, as more advanced digital assets are created, we see increased use cases of smart-contracts, Dapps, etc., which makes it possible for the platforms to handle the high volume of transactions.

In October, Tron successfully surpassed Ethreum’s daily transactions, and its monthly transaction growth was a whopping 58% while Ethereum improved by only 3% concerning daily transactions. It is a major achievement for the cryptocurrency given that its Mainnet was launched a few months ago. TRX Colony tweeted yesterday,

It is essential to note that the launch of the Dapps on its network are the key reasons why Tron’s avg daily transactions have reached the level that they are at today. Subsequently, the recent increase in the average daily transactions of Tron has been attributed to Tronbet, and blockchain firm’s numerous partnerships – it teamed-up with Baidu not too long ago.

In the middle of this month, the Tron Foundation had tweeted,

Ever since Tronbet was launched, it has attracted more people and has made Tron clock more than 500,000 transactions in a single day. Three days after the launch, it surpassed Ethereum’s average number of transactions.

Typically, the increased number of the average transactions showcases success on any blockchain network. The more the number of transactions, the better the platform is assumed to progress. With that in mind, if a blockchain network starts showing downtimes due to the increased number of transaction it has, then it shows the blockchain is inept.

Before now, other blockchain networks like Bitcoin and Ethereum have faced lots of criticisms due to the lack of ability to process a bigger number of transactions. Yes, even though BTC and ETH are developing other schemes to bail their network and services, investors are looking for more scalable models of blockchain networks, and Tron seems to be a part of those models.

Tron’s average number of transactions in the month of October was up to 75 percent than that of Ethereum’s, and it can handle more than 2000 transactions per seconds. The ability to process a massive number of transactions per seconds makes Tron a favorite to Dapps developers worldwide.

Tron Has More Dapps Coming Up

More Dapps are coming up on Tron’s network as it is part of its aim to have a decentralized internet. Tron has seen the movement of Dapps from Ethereum to its blockchain system, due to the reputable scalability.

Not too long ago, the first game on its network that got launched on its network reached 300 million TRX payouts. Moreover, a gaming platform called Bitguild has stated that its latest game will be created on Tron’s network very soon.

Nevertheless, if Tron continues to scale-up the average number of transactions on its network, we might see a repetition of the achievement in November.

TRX Market At The Moment

At the time of writing, the price of TRX stands at $0.02294 with a market capitalization of $1.5 billion. The cryptocurrency looks green with a decent surge of 2.24% in the last 24 hours.

For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!

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.

Image courtesy of MabelAmber/Pixabay

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Ludos Protocol Makes a Strong Case for Investors in Blockchain Gaming

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As games migrate to the blockchain and become increasingly complex, Ludos Protocol is set to capture this new market. It’s creating a solid ecosystem of DApps and toolboxes that provide Blockchain as a Service for developers to build and maintain sidechains.

Ludos Protocol solves one of the biggest issues that has given investors qualms about blockchain gaming: scalability. An overcrowded mainchain is a perennial problem that has hindered the progress of even the best-funded blockchain gaming applications. Thanks to a hybrid of Proof-of-Work and Proof-of-Stake consensus algorithms, Ludos Protocol is able to implement a multi-sidechain system. This allows any populated game to deploy its own sidechain of transactions while keeping the mainchain throughput at a minimum.

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Industry trends attest to Softbank’s interest in Ludos Protocol. Gaming produced a global revenue of over $200 billion in 2017, according to the latest report by Digi-Capital. It is a figure that is expected to grow to $300 billion by 2021, making the industry one of the most lucrative in the digital economy. It is also one of the ripest for change by blockchain technology. The development of a comprehensive blockchain infrastructure that suits the evolving needs of the…

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Why Investors Should Closely Follow the Earnings Season

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The earnings season has arrived, and investors around the world are excited to see what reports are companies going to publish. This is important as these reports contain companies’ earnings for the current year, which can provide investors with some valuable insight.

No matter what announcements the company has made throughout the year, it is the earnings report that indicates the firm’s true performance. As such, it often has a significant impact on its public image, the price of its stocks, as well as investors’ interest.

Earnings reports can open up new opportunities

When it comes to the cryptocurrency markets, 2018 has brought both, volatility and stability. Most of the time, prices were relatively stable, but this state was only reached after a harsh drop in January 2018. Since then, several smaller price surges, followed by just as large price drops, hit the market once again.

As a result, crypto traders were prompted to look for alternative investments. Earnings seasons often present numerous opportunities for resourceful investors. Analysts claim that earning reports managed to significantly impact prices of shares (by over 5%) since 2001.

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Ever since the cryptocurrency sphere was met with the news of the partnership between Litecoin Foundation, TokenPay, and Verge (XVG), the idea of them coming together has been among the most controversial news to ever surface in the cryptocurrency world.

The collaboration managed to even draw the attention of one of the most renowned crypto-influencer and bitcoin campaigner, Tone Vays. In his usual style, Tone took to Twitter handle on hearing the news, tweeting and expressing his disapproval while criticizing the creators of the three cryptocurrencies for allowing such a move to occur.

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