21.10.2019

How The Bear Market, Will Boost Development on the Tron (TRX) Network

In a December 6th tweet, the founder and CEO of Tron (TRX), Justin Sun, announced that the Tron foundation will build a fund to rescue developers on the Ethereum (ETH) and EOS networks. The offer by Justin had one additional condition: that developers migrate their DApps and projects to the Tron Network.

The tweet stated the following:

#TRON will build a fund to rescue #ETH and #EOS developers from the collapse of their platform as long as those developers migrate their dapps to #TRON. #TRX$TRX

Current Bear Market Causing Projects to Cease Operations

His tweet might have been inspired by the recent news that one of the main development team working on the Ethereum Classic (ETC) project, had to stop operations due to funding issues. The team, known as ETCDEV, announced via twitter that they could no longer continue their development efforts due to funding issues.

Justin Sun went on to announce that one of the developers at ETCDEV had contacted the Tron foundation.

The tweet can be found below.

Projects Migrating to Tron and Justin’s Offer, Will Boost Development on the Tron Network

With Justin Sun’s funding offer for Ethereum and EOS developers to migrate to the Tron network, the bear market has provided the proper environment for development on the Tron platform to thrive.

Earlier on in the month, we saw the team at BitGuild move the Bitizens gaming DApp from the Ethereum network to that of Tron. We also saw the Tron foundation launch a $1 Million accelerator plan for DApp creation on the platform.

The financial incentive by the Tron foundation boosts the likelihood of DApp developers to migrate to the platform that has been praised for the following features:
  • High throughput of 2,000 transactions per second
  • Zero fees for smart contracts transactions not exceeding a certain bandwidth
  • Possibility of integrating zk-SNARKS to enhance privacy
  • January’s NiTRON event to discuss all things blockchain on the Tron network
  • Compatibility with the Ethereum Virtual Machine

Conclusion

The bear market has forced many DApp developers to either adjust their operational budgets or close down shop completely. Justin Sun and the Tron foundation has however encouraged developers to migrate from the Ethereum and EOS platforms through the aforementioned incentive of funding their projects. Therefore, 2019 might just be the year where we will see DApp creation on the Tron network increase tremendously.

What are your thoughts on Justin’s offer to developers on the Ethereum and EOS networks? Please let us know in the comment section below.

Disclaimer:This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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