Back

Tron Gains 12 Million Smart Contract Triggers

According to CEO Justin Sun, they are targeting 50 million smart contracts by December.


 

Tron Challenges Ethereum After Upgrade

Tron Foundation has 12 million users just days after unveiling its smart contract. The news was announced by Tron CEO Justin Sun in a tweet. The numbers are part of Tron’s goal of attaining 50 million contracts by the end of this year.

The tweet by Sun elicited a lot of reactions from his followers. Tron supporters re-posted the message congratulating Sun on the achievement.

The smart contract released recently is made up of a computer protocol. The protocol enables the performance and authentication of virtual currency payments between more than one entity under specified circumstances.

The new protocol makes Tron a top blockchain based OS due to scalability and effectiveness.

Last month, Tron took a major step to come up with structures to the decentralized internet by activating the virtual machines. Through his Twitter, Sun announced that Tron would initiate the Odyssey 3.1 upgrade that will usher in the smart contract phase. The upgrade came to life after the Tron community reached an agreement. Due to the upgrade, Tron was to become 200x faster compared to Ethereum which is 100x cheaper.

Following Sun’s tweet, the upgrade was initiated 72 hours later after handling a number of network challenges that arose from a single block. Smart contracts play a key role in setting up decentralized systems for peer to peer payments.

After the upgrades, Tron’s performance spiked placing them at the level of Ethereum. Ethereum’s position is under threat after it failed to accommodate the rapidly changing network. The network’s smart contract operations are no longer viable.

With the target of 50 million before the end of 2018, Tron might hit the target. The upgrade has been astounding.

10 months ago

Start Weekly Digest

Similar news