Geneva, Switzerland – August 5, 2024 – Leading crypto media outlet Cointelegraph and premier crypto research platform CryptoQuant have unveiled comprehensive reports detailing the exceptional performance and growing influence of the TRON blockchain network. The studies emphasize TRON’s unmatched transaction speeds, scalability, and cost-efficiency, establishing it as a top choice for daily transactions and stablecoin transfers.
Cointelegraph Research Insights
Cointelegraph’s extensive analysis of the TRON ecosystem highlights several key aspects:
- Stable and Robust Demand: Unlike many blockchains driven by incentive programs and speculative trends, TRON’s activity is sustained by consistent demand, ensuring a reliable revenue stream for the protocol.
- Organic Adoption: TRON’s active address growth showcases genuine user engagement, boasting over 2 million daily active wallet addresses, outpacing all direct competitors.
- Dominance in Stablecoin Transfers: By June 2024, TRON emerged as the second-largest blockchain for stablecoin transfers, following Ethereum.
- Financial Performance: The network saw a 15% market cap increase in Q1 2024, reaching a record $128.1 million in revenue, positioning it among the top revenue-generating blockchain networks.
CryptoQuant Research Findings
CryptoQuant’s analysis delves into TRON’s technical advantages and user demographics:
- High Scalability and Speed: TRON processes up to 2000 transactions per second (TPS), far surpassing Ethereum’s 119 TPS. This is achieved through its Delegated Proof of Stake (DPoS) mechanism and integration with BitTorrent for distributed storage, eliminating the need for external scaling solutions.
- Retail Adoption: The network’s practicality for everyday use is highlighted by the over 52.6 million small holders using TRC-20 USDT, responsible for 28% of TRON’s USDT transactions as of July 2024.
- Transaction Versatility: TRON efficiently handles both large and small transactions, making it particularly favored for remittances, micropayments, and peer-to-peer transfers. This widespread retail participation underscores its cost-effectiveness and reliability.
Combined Insights
The combined insights from Cointelegraph and CryptoQuant underscore TRON’s strong network activity and the stable demand for TRC-20 USDT. These reports collectively illustrate TRON’s pivotal role in advancing digital asset utilization, enhancing liquidity, and promoting blockchain ecosystem health.
About TRON DAO
TRON DAO, founded in September 2017 by H.E. Justin Sun, is a community-governed organization dedicated to decentralizing the internet through blockchain technology and decentralized applications (dApps). Since its MainNet launch in May 2018, TRON has achieved significant milestones, including the integration of BitTorrent in July 2018, which added over 100 million monthly active users to its ecosystem.
As of August 2024, TRON boasts over 247 million total user accounts, more than 8 billion total transactions, and over $22 billion in total value locked (TVL) as reported by TRONSCAN. TRON also hosts the largest circulating supply of USD Tether (USDT), surpassing Ethereum since April 2021. Following its complete decentralization in December 2021, TRON is now a fully community-governed DAO.
In October 2022, TRON was designated the national blockchain for the Commonwealth of Dominica, marking a historic partnership where TRON-based tokens were granted statutory status as authorized digital currency and mediums of exchange within the country.