TRON (TRX) is now emerging as a formidable competitor to Ethereum (ETH) in the cryptocurrency market. The TRON blockchain network is gradually gaining traction among ICO projects to launch their token sales. The TRON blockchain has already clocked more than 800+ token sales. Furthermore, the listing process continues to gain momentum with an average of 3-5 new tokens sales on a daily basis.
So far, the Ethereum blockchain dominated the cryptocurrency industry in terms of new token listings or launching decentralized applications (DApps). However, due to over-crowding the blockchain network, it is currently facing performance and scalability issues.
The Ethereum developers are diligently working to overcome certain issues relating to scalability. Additionally, there is more than 70% erosion in the price of ETH since the beginning of 2018. As a result, ICOs which raised their money through Ethereum have seen their investments going considerably down.
On the other hand, Tron has been successful in analyzing the shifting trend and luring more ICO projects to its platform. Moreover, the TRON Foundation is also working diligently to ease the process of issuing custom tokens.
The TRON Foundation has got a very clear vision for its future growth and development. At the fundamental level, the foundation has taken some key initiatives which drive the ICO issuers to its platform.
The TRON blockchain network employs a simple Graphical User Interface (GUI) for the creation of new tokens. This is much simpler for developing smart contracts which require a good amount of technical know-how. It takes only 5 minutes to create a token on the TRON blockchain. Moreover, the cost of launching a new token is as low as $20 USD.
The process of the token sale is integrated with the TRON blockchain. Each wallet gets automatically synced with the latest TRON token sale. This makes it easy for community members to participate in the token sale process. Moreover, it provides free advertisements for people looking to raise money.
TRON has got a dedicated and active community for the token sale process. The community monitors all the events taking place on the TRON blockchain. It supports and participates in new projects while also actively reflagging fake/scam projects. It helps to create a healthy and conducive environment for ICO projects to thrive.
In conclusion, there is no doubt that the TRON blockchain is taking active steps for further growth. Though, it has got miles to cover further to take-on giants like Ethereum.
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