The past week has seen some very positive movements from the two Ethereum rivals TRON and EOS, both of which regularly reside in the cryptocurrency markets top ten and both of which often hit the headlines. There are some similarities that can be drawn between the two, however speaking generally, EOS and TRON are very different.
So, since their similarities can’t explain why EOS and TRON have had such a positive week, let’s explore what’s taking TRON and EOS to the moon this week (not literally).
Many believe that the value of TRON will eventually climb to it’s old heights. Generally speaking, through 2018 and into 2019 TRX, the native token to the TRON project has not made a huge amount of progress. Even so though, not all hope is lost.
Recently, TRON, through their partnership with BitTorrent, have announced that they are running a number of airdrops to TRX token holders. These airdrops will deliver a number of BTT, BitTorrent tokens to the TRX community in a bid to boost both TRON and their BitTorrent branch. As covered by Crypto Daily:
“The first airdrop is set to occur on 11th February after the BitTorrent Foundation will reward holders of TRON with BitTorrent when TRONs block height reaches 6.6 million. The airdrop will consist of 10,890,000,000 BTT corresponding to just over one percent of the overall supply in circulation. After this initial airdrop, on March 11th 2019 through to February 11th 2020, TRON (TRX) holders will be rewarded with an additional 11,880,000,000 BTT which accounts for 1.2 percent of the total supply.”
“Then after this airdrop, on March 11th 2020 through February 11th 2021, the TRON Foundation will airdrop 12,870,000,000 BTT to TRX holders corresponding to 1.3 percent of the overall circulating supply. From here, the process will repeat itself until February 2025 with an increase of 0.1 percent on an annual basis until it reaches 1.7 percent in 2025.”
This is set to encourage the value of TRX, as more people purchase the token for holding purposes, in order to get a slice of BTT. Airdrops like this, really encourage the community to be proactive with their investment and aside from the riskiness of crypto-volatility, these airdrops are actually a win win situation for investors, providing they can afford to take part of course.
We have recently heard more exciting news from Justin Sun, the creator and CEO of TRON. Sun has recently spoken to his community, affirming his goals to truly decentralise the internet, and take power back from big players such as Amazon, Google and Facebook. You can see our coverage of this story for yourself, here.
During this, Sun states:
“Our goal is to decentralize the internet. That means we want to return to the vision of the original internet, which is to give everyone the power to share information freely. Right now, that power is mostly in the hands of large companies like Facebook, Amazon and Google. I believe 2019 will be a big year for blockchain. People are already starting to see clear winners and losers. When the poor performers drop out is when we’ll see a return of trust and true growth across the ecosystem. For TRON, we’ve got some big plans ahead in addition to the things we’ve already announced. If people like what they see as we roll out these things, I believe TRON can truly become a household name.”
Likewise, EOS has made some progression of late which all seems to be down to some exciting updates to the EOSIO software, a key part of the EOS project which is maintained by a blockchain firm called block.one.
The update is said to have encouraged a transaction speed increase of up to 35%, proving that EOS is becoming faster and more scalable by the day. The new software is yet to see a full rollout, so the full scale of this cannot yet be seen, even so though, the EOS community and the rest of us are now starting to feel quite bullish about EOS.
As covered by Crypto Daily the official announcement by the company states:
“Our own internal benchmark tests show upwards of a 35% increase in likely transaction speed when using token-transfers-per-second as our base case.”
“The company has said that this new result has been achieved after tests on the EOSIO software which was conducted on a private network. Furthermore, the network has made some significant growth in the functioning of the network. Despite the benchmark still not reflecting the results of the real-life usage, there is still a big increase in the speed of transactions and a decrease in the time needed for the transaction and lower CPU costs.”
Positive developments do have a big impact on the markets. Let’s hope this isn’t the last we see of TRON and EOS and let’s hope this momentum continues to build.
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