Tron is steadily becoming bigger and better as a technology powerhouse in the blockchain industry. The mainnet appears to have been the missing puzzle that was holding this crypto project back. Following the mainnet launch, Tron successfully completed the Super Representative (SR) elections and launched one of the most robust virtual machines in the industry, Tron Virtual Machine (TVM). Significantly, the team completed the testing of the Tron Wallet and is currently fully available for both the Android and iOS systems.
The above-mentioned developments are just but a handful to show you the kind of platform Tron is becoming. At the moment, Tron is marketing itself as the go-to platform for Initial Coin Offerings (ICOs). More than once the founder of Tron, Justin Sun has called out to developers to stop launching decentralized applications (dApps) and tokens on Ethereum (ETH) blockchain. Instead, he advises them to look towards Tron robust capabilities. In this article, we will find out “why Tron is the best platform for upcoming ICOs.” In addition to that, we will see how this platform caters for the future of tokens.
As reported by Crypto Recorder a week ago, Tron announced the launch of a new token sale for TronWatchMarket; a soon to come decentralized exchange. TronWatchMarket is important to the networks because it is among the first ICOs to run on the platform. Tron network is growing rapidly, besides there are over 400k accounts with a growing interest in launching token sales on Tron.
Prior to TronMarketWatch, the network supported other community projects such as TronWatch desktop wallet as well as TronLink, a chrome extension. However, TronMarketWatch has become the first project to actualize Tron Tokens.
Tron has realized how ICOs become a tedious exercise not only for the issuers of the tokens but also for the participants. Experienced users easily find their way around Ethereum smart contracts but ordinary users have a hard time. To make things worse, some ICOs do not give participants tokens in return for their funds immediately. The participants have to exercise an element of trust that they will receive their tokens; Tron says this is very retrogressive especially for the crypto spirit.
“TRON has native tokens with integrated token sale mechanisms. For a few TRX, you can create a token, set the supply and timeline of the ICO, and you’re good to go. All TRON wallets support this; it’s super easy and very transparent.”
While Tron has made it extremely easy for people to create tokens, this has come with its own set of disadvantages. There is a growing number of fake tokens and scammers but Tron is using the community developers alongside major wallets to get rid of the fake tokens. It costs approximately $20 to build a token on the Tron Network.
Tron is among the cheapest blockchains in terms of transaction fees. In fact, by holding TRX in the wallet, users earn extra bandwidth which is very useful for a few transactions. Similarly, it will cost you roughly 0.1 TRX or $0.002 to buy more bandwidth. This to make sure that the network is inclusive and does not lock out people who don’t have a lot to spend.
“There is no way to deny it — TRON will be a major participant in the ICO game. Seeing these numbers made us that much more confident that a decentralized exchange is needed for TRON,” TronWatch wrote on the Medium.
Tron is trading at $0.021 at press time following a 3.78% drop in the last 24 hours. Tron is ranked 13th on CoinMarketCap with a cap of $1.4 billion. As it stands, $115 million in volume has gone through exchanges in the last 24 hours.