Tron CEO and founder, Justin Sun, has just reported that the total number of accounts on the Tron mainnet now exceeds 3.5 million. Moreover, the block height has reached 11984687 with 1073 online nodes.
This widescale adoption of the network is astonishing given that Tron launched a little over a year ago. It has quickly become one of the most well-known cryptocurrencies and has a passionate user base. This may be due to the many controversies that Justin Sun is embroiled in, giving the currency major publicity.
It may also be due to the ease of using the network. Creating an account on Tron is relatively easy, which may explain the high number of registered accounts. It requires a mere 0.1 TRX to generate a key pair and to extract a public key. It is thus possible that while the network has a large number of real users, they are not completely active.
Tron does have a functioning mainnet, which many cryptocurrencies do not. It is also a blockchain platform which supports a wide range of decentralised applications (dApps) like the blockchain platforms, Ethereum and EOS. In fact, it was found that Tron has surpassed Ethereum and EOS in total dApp users. It may be these factors which are increasing Tron’s popularity.
Nonetheless, despite these successes, Tron still remains #14 among other cryptocurrencies in terms of total market capitalisation. 1 TRX is worth $0.018. Tron might still be struggling because its popularity is a double-edged sword. It receives a major amount of negative publicity due to the antics of Justin Sun, who always seems to be embroiled in controversy.
The most recent of this is the massive failure of his planned lunch with Warren Buffett. Sun donated a staggering $4.5 million to charity to have lunch with the famed crypto-sceptic. After creating a media circus out of the event, the lunch eventually got cancelled due to Sun’s ‘kidney stones’, a claim which is still questioned.