On January 5th, our beloved Tron (TRX) was trading at $0.254 and had had a meritocratic rise from a month earlier when it was valued at only $0.002 on December 5th, 2017. The price on the 5th of January was an impressive 12,600% increment in that brief period of a month. How amazing is that? It is quite impressive especially for a token that had just been released into the cryptocurrency markets earlier in September of 2017. However, Tron (TRX) was later to drop in value to a year low of $0.0257 on February 6th, exactly one month after the peak value and a 90% drop. But things are looking up in the last 24 hours. Tron (TRX) is ready to rise from the ashes like the legendary Phoenix with a 30% increment in value.
According to Greek Mythology, the mentioned Phoenix was a unique bird that lived for five or six centuries in the Arabian desert, after this time burning itself on a funeral pyre and rising from the ashes with renewed youth to live through another cycle. According to the same mythologies, the bird would continue this cycle of death and rebirth indefinitely although we have not been lucky to witness such in our generation.
It with such a background story that it is wise to conclude that Tron (TRX) is in itself going through another rebirth as can be seen with the 30% increment in price within the last 24 hours. The volumes of the token on the top online exchanges of Binance, Upbit and Bittrex is quit impressive. The exchanges are trading $207.7 Million, $109.34 Million and $70.2 Million worth of Tron (TRX) at the moment of writing this.
Perhaps the question we should be asking is what is causing Tron (TRX) to rise like a Phoenix.
One such reason is the countdown to the release of the Tron’s Test Net in approximately 6 days on the 31st of this month. The Test Net is a Beta Version of the Main Net Tron blockchain to be released later on in the year. Think of it as taking a new car in production for a test drive to figure out if all the design features work as planned. This allows for a safe environment to do this without jeopardizing the final product or the safety and security of your consumers.
In the case of Tron, the Test Net is a trial of a separate Tron blockchain, from the existing and controversially vulnerable ERC20 protocol of Ethereum that the ICO was built upon. The Ethereum Smart Contracts have been proven to have vulnerabilities as is the case of the famous accidentally Parity incident and the research made by a team from the National University of Singapore (NUS), Singapore’s Yale-NUS College and the UK’s University College London (UCL). The researchers when ahead and wrote a brilliant paper about it.
The final product after Test Net will be the Exodus Main Net which is being accelerated by the Tron team. In an exclusive interview with the Tron team, the new date for the Main Net launch will be 31st of May, 2018. This is exactly 2 months after the release of Test Net. In the interview, the Tron team went ahead and explained that the Tron Network has a 3 layer architecture. It includes storage layer, core layer and application layer. In the storage layer, there will be a graph database to meet the needs of a diverse data storage need in the real world. In the core layer shall be the modules of smart contracts, account management and consensus. The final application layer allows the developers at Tron to use the interface to easily bring about abundant Decentralized Apps and implementation of the wallet.
In a nutshell, Tron (TRX) is up for exiting times ahead that will surely cause the token to rise again in the markets like the Legendary Phoenix in the next few days, weeks and months.
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