TRON (TRX) founder Justin Sun announcing 10.000 tps on TRON testnet -- updating TRON VISION, COIN BURN MECHANISM!

in crypto •  5 months ago

31st March, 2018 - TRON testnet going live

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Together with the announcement of TRON's testnet going live, TRON founder Justin Sun also reveals some exciting news concerning the transaction speed and scalability of the project.

In his latest livestream to announce the long anticipated launch of its testnet, Justin Sun unveils an ambitious

"400x tps compared to the Ethereum"

blockchain. To nail it down even more precisely, the team is at a staggering 10.000 transactions per second in the testnet already.

This being not enough, Justin Sun elaborates on TRON's longterm vision, updating the commonly held viewpoint that TRON is going to be a decentralized protocol for the entertainment industry, only. Much more, he states, TRON will be a platform to

"decentralize the whole web",

giving back online content to the power of users, expanding the utility of the project from being merely an entertainment centered one to being a player in a much more fundamental infrastructure centered league.

The utility of issuing a new token based on the TRON platform includes a coin burn mechanism.

"It costs 1024 TRX to issue a new token in the TRON protocol. And the cost of the issue of the new currency will be burnt forever"

Still a long way to go, TRX a long term HODL

The launch of the testnet is only a first step to this end, and especially in the cryptosphere is a feature that basically every project should have from the beginning. So, today's news are long overdue. Nevertheless, It can be considered positive that the team stays ahead of it's own roadmap. The launch of TRON's mainnet on 31st May, 2018, as reiterated by Justin Sun during his live stream will be the next milestone on a long path towards the goal of a decentralized web in the future, making TRX a long term HODL rather than reflecting its real value at this point in time.

Watch Justin Sun's full announcement on periscope

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