Tron [TRX] weekly report: New projects in the pipeline as token aspires to outperform Ethereum [ETH] by end of 2019

The first week of 2019 has been a remarkable one for Tron with various events and partnerships taking place. Justin Sun, the CEO and founder of Tron, recently tweeted the weekly report of the firm. According to the report, the firm has completed the hard fork logic optimization and development of event subscription function. Currently, the team is working on the multi-signature wallet and smart contracts.

Proposal number 13, which was submitted by Justin Sun, has also been approved. The proposal was submitted by the founder in order to increase the amount of energy on the network. This approval will lead to a massive expansion of the Tron network with reduced transaction costs. The report also mentioned that Tron is striving to take over EOS in terms of the number of DApps being launched. Apart from this, Tron is also aiming to outperform Ethereum in terms of network ecosystem.

Another proposal submitted by one of the super representatives named TRON-ONE has also been approved. This proposal is expected to improve the scalability of the ecosystem. Users can now create and name their own tokens with the existing token names. Further, the TRC 10 and TRC 20 smart contracts will be connected once the token name duplication is approved. Therefore, all Dapps will be able to use TRC10 tokens for circulation.

BitTorrent Inc, which was acquired by Tron in the year 2018, announced the release of a new token named BTT which is TRC10 compatible. The firm also mentioned that the token will be available on Binance Launchpad for non-US customers.

According to the report, a decentralized exchange called TRXMarket exceeded the daily transaction volume by 200 million TRX. Also, TRX has been listed on a global cryptocurrency trading platform named COINBIG.

At the time of writing, Tron [TRX] is trading at $0.023 with a market cap of $1.5 billion. Earlier today, the cryptocurrency had outperformed Bitcoin SV to take the 9th position by market cap. The cryptocurrency has shown a massive surge of over 25% in the past week. According to CoinMarketCap, the highest trading volume for Tron is seen on Bit-Z for TRX/BTC trading pair.

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