TRON (TRX) is one of the booming digital assets, up 73% this week to a price of 0.09. The price rally placed TRX back among top 10 coins, displacing NEO, as trading volumes gradually pick up.
The current rise in TRX prices is smoother compared to the December spike, and the appreciation against Bitcoin is never stopping. However, for every rally, there is always the question of sustainability. Some keep believing TRON has no viable product, and the TRX asset would be only used in governance, not in running distributed apps.
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One of the reasons for the rise in TRON are the upcoming Super Delegate elections. The TRON network will rely on a layer of semi-centralized governance, hence the need for delegation.
https://twitter.com/OdysseyOCN/status/990139841575772160
The TRON governance system is somewhat similar in principle to the approach of EOS, even Stellar, where a level of trust is added to secure the network. Nodes that secure transactions with high technical capabilities are capable of achieving a higher transaction rate, unreachable by mined coins.
TRON promises 10,000 transactions per second, achieved on the testnet, with no gas requirements. This would, in theory, allow for building fast and usable distributed apps. The transaction rate is half the rate of VISA. However, comparing a high transaction rate achieved by delegates and trusted settlement parties to on-chain settlement is a bit misleading. To compare, Bitcoin’s network handles 7 to 13 transactions per second, and Ethereum handles up to 25 transactions. Other networks, such as Stellar, as well as IOTA, EOS and other proof-of-stake or delegate-led networks promise even higher rates, but have a hidden layer of trust and centralization, leading to criticism from the community.
TRON gained additional exposure by getting listed on Litebit.EU, a fiat on-ramp that would allow shopping the new coin with fiat, and open it up to European buyers. At the moment, TRON trading is concentrated on the Asian markets, with Bithumb, Upbit and Binance having the biggest shares. The TRX asset has a widening market with the help of Tethers (USDT).
TRX also got another boost by being mentioned on CNBC Fast Money. The show, occasionally paying attention to prominent coins, has boosted prices in the past for several assets.
This article appeared first on Cryptovest
