TRON (TRX)–Despite the plummeting cryptomarket over the past two weeks (down nearly 60 billion USD in market capitalization), TRON has managed to push forward with the development of the currency. Monday June 25th marked the official genesis block of TRX on Main Net, signifying the moment that TRON officially distanced itself from Ethereum’s ERC-20 token to establish an independent public blockchain. While Main Net has been a successful launch for several months now, the critical beginning to TRON’s digital platform has officially started, allowing for founder Justin Sun and the TRON team to work towards the creation of a new media landscape.
The Utility of Main Net for TRX
As opposed to Bitcoin, which is currently struggling to find a way around the crippling miner fees and slow transaction times that have characterized periods of peak use, TRX (the native currency to TRON), has been established with the ability to scale. As outlined by Justin Sun in early May, TRX on Main Net has the utility to be a top of the market currency. Transactions using TRON consume 0.00001 TRX, which means a single coin purchased today for 3 ½ cents could provide a user 100,000 TRON based transactions. In addition to negligible fees, TRON has a network capable of handling 10,000+ transactions per second, which eclipses that of even Ripple’s Xrapid banking system. In addition, similar to the format of Ethereum with ERC-20 token creation, TRON has designed a system for developers to produce their own cryptocurrency on Main Net, thereby allowing for near-infinite innovation outside the parameters of TRX. This gives inherent value to the TRX coin (1024 TRX = one new cryptocurrency), while also allowing developers the freedom to expand away from TRON’s native currency if they so choose–and still retain the benefits of Main Net.
Despite being less than a week into the official start of TRON’s independent blockchain, it has become clear that the TRON team has prioritized two features in their currency: overcoming the issues of scale ahead of an influx of users, and giving developers the tools to expand in a multitude of directions. Given the currency’s position as re-defining the digital landscape of entertainment media, both are necessary for long-term development.
A Plethora of Announcements for TRON
Speaking on a livestream to commemorate Monday’s Independence Day, TRON founder Justin Sun lauded his team for their poignancy in meeting deadlines related to the development of the currency, including March’s Test Net launch and the most recent creation of the genesis block. He also alluded to July 30th being the next major date in TRON’s development, with the release of the TRON Virtual Machine (TVM–a user-friendly tool for the creation of blockchains) and also hinting at a “secret project.”
While Sun has yet to give further details on what the TRON team has in the works, the days following the launch of the independent blockchain saw TRON making substantial partnerships in the industry of online adult entertainment. Pornhub, the world’s number one porn site in terms of traffic and the 31st largest website overall, has established a program to start accepting TRX for payments (in addition to ZenCash and the previously announced Verge). To accompany this monumental partnership, the TRON team produced a tongue in cheek video playing on the future of money and other cultural references:
TRON followed up on the Pornhub announcement with another X-rated partnership in the form of Brazzers. While TRON has been a vocal pursuant of gaming, social media, publications and even education on Main Net, clearly adult entertainment is going to factor in as a feature. As of now, these websites are not publishing content on TRON’s network, but instead accepting TRX as a form of payment for premium services.
While the rest of the market reals from double-digit losses to extend the bear cycle, the TRON community has new outlets for adoption to sift through, in addition to the upcoming announcement of Justin Sun’s “secret project.”