On Friday evening, the outspoken CEO of TRON, Justin Sun, surprised his 400,000+ followers and went live on Twitter and Periscope to announce the launch of TRON’s testnet.
Earlier in the Livestream, Justin was noted as saying that the Tron team is 100 strong with new team members joining in from big companies such as Amazon, Alibaba and Tencent. The fact that they have left this big organizations, means that they believe in the vision of the project.
With the Testnet live, Mainnet is only 2 months away and will have the capability of migrating all Tron projects to its blockchain including the original ERC20 tokens in a ratio of 1:1.
The company plans to offer content creators a direct channel to consumers, free of intermediaries, while simultaneously protecting user data.
In its 2017 ICO, TRON was able to raise $70 million and is currently valued at $2.4 billion by market capitalization
The Tron Main-net will be able to cater for more Decentralized apps and hopes to be the choice of many developers for the network is based on Java programming language – which is popular and easier to use – rather than the complex Ethereum Solidity programming language.
The Tron foundation seeks to become a decentralized content entertainment platform built on the blockchain. Its ambitious goal is dedicated to hopefully build the infrastructure for a truly decentralized internet. The Tron team seeks to give power back to the creator.
Like many big platforms that we use daily like Youtube, the creators on the platform, YouTube stars, don’t have any say as to how much they can get paid by the platform. While its a very ambitious goal and one that won’t be completed for years, the Tron executives made finding top developers their top priority post-ICO and they’ve done just that.
TRON’s Grand Vision
In addition to the announcement, Sun went over the grand strategy of the project. In his Twitter stream, he said that:
“In the big picture, TRON’s vision is to decentralize the web itself.”
And covered reasons why decentralizing the internet is important in an era of Google, Facebook, Alibaba, and Amazon. His reasoning ranged from protecting user privacy to empowering users to commercialize their creative content.
TRON Plans to Oust Bitcoin and Ethereum
Following his grand vision, Sun went over a list of reasons why TRON would be able to out-maneuver both Bitcoin and Ethereum, claiming that Bitcoin is just “P2P money,” and that Ethereum is limited to smart contracts. This short-coming, Sun claims, would cause users to migrate to TRON en mass.
“We will persuade all of the dapplications right now built on ERC20 to migrate from the Ethereum protocol to the TRON protocol.”
Last week, in the ramp up to today, TRX jumped nearly 75% in its price. It seems today, however, that some investors have taken their profits from its ramp up and the coin is down.
At press time, TRX is trading at $0.037 a coin, down -10.44%, in 24 hours. While many are upset with the price of the coin, as it hit a record high of $0.30 a coin back in January, it isn’t an accurate representation of its value price as Tron is only just a test net currently.
This goes for any coin that is currently in its infancy stages, the new “third” generation coins are long holds as their full development will take years – “HODL.”
