On 17th August, Justin Sun, the Founder of Tron released a video statement that covered Tron’s vision for the future and upcoming plans of the Foundation.
Justin Sun was very frank in admitting that Ethereum is the Tron Foundation’s biggest competitor citing that Ethereum has several advantages. The advantages mentioned by him include strong code simulations and a seamlessly working blockchain. He then went on the say that Tron also held several trump cards which will one day enable it to become bigger and better than Ethereum.
According to him, Tron has a vastly superior network transaction speed, citing figures like 2000 transactions per second on the Tron network compared to Ethereum’s 25 transactions per second. Justin then stated that Tron’s global team is bigger and more conducive to growth mentioning the recently held global meet up in San Fransisco.
The Foundation was in the news for conducting its first-ever global all-hands meeting, where all the members from Beijing, as well as San Francisco, attended the meeting. The Foundation stated that the Tron family has grown from 108 members to 300 members.
The company is aiming for rapid growth, added the Founder, with plans to take the Tron family from 300 to 1000 in 2019. Justin went on to say that the Tron network hs over 2 million token holders making it the single largest functioning blockchain in the world. He reiterated his belief that Tron will surpass Ethereum by acting as a facilitator in a futuristic economic system.
He then went on to elaborate on the concept of Tron as an ecosystem and added that Tron will provide infrastructure for applications and software to grow and function. Sun said that Tron is a very friendly environment for games and constructive software to help users get a better understanding of blockchain technology.
Justin then added that the acquisition of BitTorrent has been a major landmark in the company’s history. BitTorrent is set to become the single largest application on the blockchain network, reeling in a user base of 100 million users along with it. The CEO went on to point out that traffic congestion on the Ethereum network due to games such as Cryptokitties is one problem the Tron Network is trying to solve.
Furthermore, Justin added that in the future Tron will be 200 times faster than the Ethereum network aiming to handle over 100 million transactions a day. The company has also said that mass adoption is the key and applications like Tron scan will help in achieving that goal.
The company has also revealed that the Virtual Machine will launch on the Testnet on 30th August where users will be provided an environment where all applications will be visible. This transparency, according to the CEO, will be one of the key points that will enable Tron to surpass other blockchain technologies in the industry.