Tron (TRX) has achieved a new record on its network. Tron’s network has surpassed Bitcoin (BTC), Ethereum (ETH), XRP and Bitcoin Cash (BCH) in the number of daily transactions processed. Altogether, these virtual currencies were not able to reach the number of transactions that Tron handled on November 7. The information was released by Misha Lederman, co-founder of IAmDecentralized.org.
Tron Network Expands
The Tron network has drastically expanded during the last months of this year. As reported by Misha Lederman, Tron beat the top four virtual currencies in combined daily transaction volume.
On November 7, the transactions registered by these virtual currencies were:
BTC: 293,604
ETH: 564,602
XRP: 193,540
BCH: 22,252
That means that the total number of transactions was 1,073,998. Tron, instead, registered the same day, 1,183,155 transactions. The interesting thing is that during the next days, the transactions processed by the network continued to increase. On November 8, there were 1,272,082 TRX transactions. On November 9, 1,304,051 trx were processed by the Tron network. From November 7 to November 8, the number of transfers grew by 20%.
At the same time, the number of addresses is also growing as time passes. On November 10, 580,774 TRX wallets were registered
This is a very important milestone for Tron that launched its mainnet back on June 25. At that time, the network left Ethereum and became the largest decentralized network in the market. Developers are now able to build decentralized apps on it.
TronPay Wallet, a Chrome extension, was launched on November 9, allowing TRX users to send and receive funds directly on Google Chrome. Justin Sun commented that it was built by the Tron community developer DAppPlay.
Developed by #TRON community developer DAppPlay, TronPay Wallet was officially launched. TronPay is a Chrome extension wallet that supports the TRON network.Available in multiple languages, TronPay users can easily try out TRON #DApps. #TRX $TRX https://t.co/5atVjbFeCD
— H.E. Justin Sun 孙宇晨 (@justinsuntron) November 9, 2018
Tron shows that their network is capable of handling an important number of transactions and accounts. According to Tron’s official site, the Tron network is able to reach 2,000 transactions per second (TPS). Ethereum, instead, can reach 25 TPS. Bitcoin, clearly behind, is able to handle between 3 to 6 TPS.
At the time of writing, Tron has a market capitalization of $1.5 billion dollars. That makes it the 11th largest virtual currency in the cryptocurrency market. Each TRX token can be purchased for $0.022 dollars.
This information comes in a moment when the virtual currency market is in a bear trend since the beginning of the current year. Clearly, Tron has the potential to continue growing in the crypto market.
Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.
