Tron Network Reaches Major Milestone With 6 Million Addresses

Justin Sun, the founder and CEO of Tron, announced that the Tron network has reached a major milestone with 6 million addresses registered. The increase in the number of addresses follows the increase in the number of dApps built on the network, which reached 768 in total last week.

10,000 New Addresses Created on Tron Every Day

Tron, the decentralized blockchain network founded by Justin Sun, has seen a significant increase in use this year, despite the fact that its market cap has been declining. 

Justin Sun announced today that the Tron network has reached a major milestone—there are currently over 6 million addresses on the blockchain. 

Data from blockchain explorer Tronscan showed that there has been a steady growth in the number of new addresses created on the network in the past 14 days, averaging at 10,000 per day.

      Graph showing the account growth on the TRX network in the past 14 days. 

New Tron Dapps Could Be Behind Latest Address Increase

Data from a blockchain analytics tracker also showed that there have been 1.3 million transactions on the main chain and the Sun Network on May 28, which is a steep increase from the 1 million transactions that were processed on the network on May 27. 

                Graph showing the number of daily transaction on the TRX network in the past 14 days

The fact that the account growth isn’t mirrored in TRX’s price growth indicates that it might have been a result of an increasing number of decentralized applications (dAps) being built on the network. 

According to the latest Dapp Weekly Report, there are currently 768 dapps on the network, with the growth of the platforms, games, and services being built on the network remaining stable for the past week. 

The report showed that from May 23 to May 29, there were 518,000 transactions processed on dapps based on the network, with more than $4.1 million traded. 

The report also showed that the majority of dapps on the Tron network were gambling and other high-risk categories, while exchanges made up the smallest portion of the dapps built on the platform.

                                      The Dapp Weekly Report summary. (Source: TRX Foundation)

Sun’s company has been on an acquisition spree after acquiring BitTorrent, Steemit, and Poloniex. It is also trying to capture the stablecoin market by hosting Tether on the blockchain and by launching its own stablecoin called USDJ.

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Tron Network Reaches Major Milestone With 6 Million Addresses was last modified: May 29th, 2020 by Priyeshu Garg

Priyeshu Garg

@priyeshugarg

Priyeshu is a software engineer who is passionate about machine learning and blockchain technology. He built his first digital marketing startup as a teenager and worked with multiple Fortune 500 companies. He’s an alumnus from…

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