Transaction Fees Bode Well For TRON

Published 5 years ago on November 07, 2018

Competition among digital cryptocurrencies is good for the industry. One area of contention revolves around having the highest transactions throughput. Associated with that statistic is the volume of transfers through the network on a daily basis. New numbers coming in show that TRON is slowly but surely pushing forward ahead of other projects.Any digital currency network is only useful if people are actually actively using it. Bitcoin, Ethereum and XRP are all popularly used networks. Value is transferred between users on an active basis. The network somewhat limits the number of possible transactions every day and in the case of TRON, the limit is well above the 1 million mark. With this news being revealed, it is a vital time for the TRON project. Several weeks ago, the network finally half a million daily transactions and ever since then that number just keeps on accelerating up. This new breakthrough means that Ethereum is used half as often as TRON. an interesting turn considering that Ethereum is classed as the mature one out of the two projects. There are multiple key factors which contribute to this continuous growth. One of the first things is that TRON’s decentralised apps are coming out with a lot of transactions with the biggest ones are related to gambling and betting. These are two ideas which are always popular amongst users of digital currencies. Next is that it seems a lot of people are moving funds to and from exchanges. With this new daily transactions throughput, it suggests that developers over at TRON will need to extend this trend for as long as possible. Unlike other projects, it seems that the network has room for more growth in the future. Transactions costs remain relatively low at an average of $0.02 whereas Bitcoin’s current fee is more to the $0.4 region whereas Ethereum’s fees sit at around $0.19. The volume of growing transactions coincides with another important statistic which looks over the past two weeks where the volume of network addresses has grown accordingly. As said by Live Bitcoin News, “an increase from 525,000 to 567,237 addresses has been recorded by TronScan. This further confirms there is a genuine network growth effect taking place right now. There is also the increasing popularity on Facebook to take into account.”What are your thoughts? Let us know what you think down below in the comments!

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Robert Johnson

Robert first came across Bitcoin in 2016 during a meetup in Belgium, and has been hooked ever since. With a background in Economics, you can find Robert frequently looking at the Twitter feed of the SEC for any regulatory updates relating to Bitcoin and Crypto in general.