Justin Sun reveals launch date for second-layer scaling, “100X scalability” for TRON ๐จ This article is 6 years old...
Justin Sun reveals launch date for second-layer scaling, “100X scalability” for TRON
2 min read
Updated: Nov. 7, 2019 at 2:31 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Justin Sun, the founder and CEO of blockchain DApp platform Tron, revealed the company’s plans for the Sun Network, Tron’s second layer scalability solution. The network’s testnet will reportedly launch in the second half of May and will improve the Tron network’s transaction capacity and overall scalability.
Sun Announces Sun Networkโs May Launch Date
Tron, one of the most heavily marketed blockchain platforms in the world, has announced a new second-layer solution for its blockchain. The company’s founder and CEO, Justin Sun, has been very active on social media promoting everything from cryptocurrency airdrops to dozens of new projects launched or acquired by Tron.
At the beginning of April, Sun revealed that the company was working on the Sun Network, a second layer solution that could reportedly help the Tron network achieve 100 times more scalability.
#TRON will release the detail of #Sun Network soon! #SUNNetwork is our layer 2 solution to achieve 100X scalability. #TRONโs dapp usage is poised to scale from the current millions to hundreds of millions after launch. GO #TRX and #BTT! #BitTorrent #BTT #TRX
— Justin Sun (@justinsuntron) April 3, 2019
And now, just a week after releasing a teaser about the launch, Sun revealed the launch date for the network, as well as the project’s expansion plans.
According to Tron’s Medium post, the first of the three phases of DApp Chain, the company’s new customizable way to run DApps, will be the testnet. The launch of the testnet is scheduled for May 30th and will focus on supporting sidechain smart contracts.
Tron’s DApp Sidechain Expansion Project Offers Strong Decentralization and Low Cost
Once phase one of the DApp sidechain expansion project is complete, Tron plans on launching itsย mainnet. In this phase, the company will integrate the cross-chain infrastructure, DApp sidechains and various other expansion products. The mainnet launch is expected to happen on Aug. 10th.
The mainnet, in its original form, will be available in just over a month when phase three of the expansion is supposed to take place. On Sep. 15th, Tron will start working on optimizing the network. The company plans on using the foundations of phase 1 and 2 to improve the toolset, improve the ease of use, and enable easy deployment and rapid integration of sidechains.
In the meantime, the Sun Network will “closely follow the industry’s cutting edge development” in order to further develop Tron’s ecosystem. While few details were provided on what that development will actually be, the crypto community is expecting major progress from Tron.
During The Crypto Chick podcast, Justin Sun also hinted that a collaboration between the Tron ecosystem and Ethereum could happen later this year.
A Tron-based version of Tether (USDT), a stablecoin, is also set to launch on Apr. 9th, Sun revealed, saying that it will allow cheaper and faster transactions than USDT’s current Bitcoin-based Omni protocol.
Based on Tron’s promotional material it seems that the company is making solid progress towards greater utility for its platform.
TRON Market Data
At the time of press 2:31 am UTC on Nov. 7, 2019, TRON is ranked #11 by market cap and the price is down 3.58% over the past 24 hours. TRON has a market capitalization of $1.64 billion with a 24-hour trading volume of $838.06 million. Learn more about TRON ›
Crypto Market Summary
At the time of press 2:31 am UTC on Nov. 7, 2019, the total crypto market is valued at at $212.71 billion with a 24-hour volume of $82.6 billion. Bitcoin dominance is currently at 58.65%. Learn more about the crypto market ›
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Tether
$1.00113
Launched in 2014, Tether is a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner.
Ethereum
$3,290.68
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Bitcoin
$99,273.25
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Justin Sun has carved a name for himself as a leading figure in the blockchain sector.