TRX/USD market overview: Tron all set to launch the Sun Network, price remains indifferent
- The 1.0 version of the network will allow for 100x scalable solution.
- Developers will be able to build dApps on sidechains.
Tron is about to launch its Sun Network on August 10th, as per a tweet by founder Justin Sun. According to Sun, the version 1.0 of the network will allow for 100x scalable solution, while developers will be able to build dApps on sidechains. Sun tweeted:
"#SUNNetwork will release version 1.0 on August 10th as one of # TRON's 100X scalability solutions. The V1.0 will allow Dapp developers to use 1.0 code to build their side chain and TRON to build a Dapp chain. BUIDL! Slowly but surely!"
A prospectus of the Sun network stated:
"Sun Network Plan is an expansion plan for TRON main network ecosystem, including smart contract application-oriented side chain (DAppChain), cross-chain communication and other expansion projects.
DAppChain is a customizable side chain expansion project related to TRON smart contracts which allow DApps to run with extremely low energy consumption, high security, and high-efficiency online operation."
The network's sidechain system will have free transactions 100 times lower fees. It will also have faster transaction confirmation. The network's documentation stated:
"With different parameters, DAppChain smart contract transaction can increase the maximum execution time of the transaction by 10 times or more from 50ms, thus supporting complex intelligent contract transactions."
TRX/USD daily chart
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TRX/USD remained indifferent of the news. This Tuesday was extremely bearish, wherein the price fell from $0.0228 to $0.0216. This Wednesday, the price has gone up to $0.217. The daily price has been trending below all three 200-day simple moving average (SMA 200), SMA 50 and SMA 20 curves for the last two weeks.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
