Tron Network is attaining greater heights by the day, as it reportedly completed more than one million daily transactions on Sunday, Nov 4.
The milestone is coming two weeks after the network surpassed 500,000 daily transactions.
Ever since, the network has come close to reaching the one million daily transactions mark on a few occasions, with reports of the network reaching about 900,000 transactions last week.
However, after days of steady address growth, the 11th largest cryptocurrency is on its way to stardom, with its 1.1 million daily transactions, which is around double the current daily transactions of Ethereum (ETH).
Few days before this achievement, the founder of the Tron Network, Justin Sun, had asked users to guess when the network would attain its one million daily transaction mark and promising to issue out 1000 TRX tokens to 5 randomly selected winners.
#TRON reached 990k transaction yesterday(11/02/2018). Almost 2x to that of #ethereum. Guess when TRON will reach 1M Tx per day? Guess&RT. I will randomly pick 5 winner for 1k $TRX each! #TRX pic.twitter.com/LSYp0dBOLA
— Justin Sun (@justinsuntron) November 4, 2018
Tron’s Determination to Take the Crypto Space By a Storm
Sun, who has reiterated in the past that his network is an ambitious one and has promised to take the crypto space by a storm, tweeted about this achievement today
— Justin Sun (@justinsuntron) November 5, 2018
Since the start of the year, the Tron network was struggling with a daily transaction of 1,397, which was recorded on June 29.
Fast forward to five months; the network has multiplied its daily transaction by ten, with the network set to surpass the combined daily transaction volume of top three cryptos – Bitcoin (BTC), Ethereum (ETH), and Ripple XRP.
Aside from Tron’s increase in the number of daily transactions, the network is continuously increasing its addresses and nodes. With a block height of 3,816,367, while the total number of users on the network is 563,823.
Reason for Tron’s Increased Daily Transaction
TRON’s daily transaction growth can be attributed to its acquisition of BitTorrent, which helped to promote the development of simple betting dApps on the network.
Since the launch of the betting apps, the network has reportedly paid out a total sum of 200 million TRX token (app. USD 4,600,000) in less than a month since its launch.