Justin Sun: Tron (TRX) blockchain is about to become 200 times faster than Ethereum, and 100 times cheaper than EOS

Tron is a blockchain that is a very polarizing topic in crypto circles – it has a lot of fans and perhaps even more haters. We will leave that aside in this article as both camps have solid arguments on their side.

Running their marketing efforts as the main Ethereum competitor, Tron ironically had no smart contracts option on its blockchain hitherto. That is about to be changed as Tron Super-representatives have reached an agreement on launching the Tron Virtual Machine – TVM. Tron Founder and main shiller, Justin Sun:

Smart contracts on Tron are named Era and according to Sun, TRX blockchain will be 200x faster than the incumbent ICO platform Ethereum and 100x cheaper than second main competitor EOS.

In an interview with Investopedia, Sun explained how TVM works and why will the transactions be so cheap:

The TVM is fully compatible with Ethereum’s EVM. Additionally, it costs a fraction of one TRX to support smart contracts on the TVM and to create TRON accounts. Because the cost is so minuscule, we say “almost free”. By comparison, creating and supporting contracts on Ethereum and EOS can cost a user more than $10.

Tron is, however, known as a coin that is good in creating hype and buzz around unproved and untested partnerships and technical achievements so these news and “facts” should be taken with a grain of salt.

Tron Price

Tradingview user alanmaster has put out a very bullish prediction on Tron price:

Since TRON ( TRXBTC -0.74% ) touched bottom on the 16th August, it has been having slow and steady growth.

Slow and steady growth is a signal of strength for any cryptocurrency.

After the low point on mid August, most of the altcoins made a lower low or hit the same low on mid September but not TRON. On mid September, TRXBTC -0.74% created a higher low compared to mid August; this is bullish signal.

So why am I bullish TRON ( TRXBTC -0.74% )? Let’s take a look:

  • On top of the signals mentioned above; higher lows / uptrend, and steady growth…
  • We can also appreciate the big increase in volume . Steadily more green volume is coming in and prices continue to increase.
  • We are now trading above EMA10 and EMA50 on the daily time frame. We broke above EMA50 (magenta line) just recently.
  • We have Doji and Hammer candlesticks on the day we looked to make a low (mid August and September). Both are reversal candles.
  • Indicators are bullish . MACD , RSI and STOCH .
  • We have three consecutive days of green candles / bullish active… More bullish active is about to come.

However, trader Xzhi has a slightly different view, although bullish long-term:

Tron has just completed its inverse head and shoulders pattern, a pattern that many investment groups complete only up to the neckline, and after they use the panic buying to fill their shorts.

I am unsure if that is the case for TRON, but it is likely that even if we do move up from here, we will eventually come down to 352 satoshis or even lower when it completes its bear divergence. Tron is moving up due to hype, and we all know that soon the hype will be forgotten unless Alibaba actually presents a real partnership with TRON.

Otherwise, it is a buy the rumor sell the news type of thingo Short: 390 Take Profit: 352 Stop Loss: 416 Manual (If starts trading above resistance and resistance acts as support) Alternatively, if Tron breaks resistance and it acts as a support, it may be a good move to long TRON. I am bullish long term on Tron but that does not mean I will give up a great money making opportunity when it sits in front of me.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

Torsten Hartmann

Torsten Hartmann

Torsten Hartmann has been an editor in the CaptainAltcoin team since August 2017. He holds a degree in politics and economics. He gained professional experience as a PR for a local political party before moving to journalism. Since 2017, he has pivoted his career towards blockchain technology, with principal interest in applications of blockchain technology in politics, business and society.

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