- Tron recently released a major update, GreatVoyage-v4.7.2 (Periander), bringing significant optimizations and governance proposals to enhance its staking mechanism and compatibility with Ethereum.
- While Tron’s staking ecosystem remains stable and shows growth, other metrics like daily active addresses and transactions have been declining, even as the total value locked (TVL) has increased.
Tron, one of the prominent cryptocurrencies, has been making notable developments in its ecosystem, according to a report by CCN.com. The recent release of the GreatVoyage-v4.7.2 (Periander) update stands out as a significant milestone. This update introduces various optimizations and governance proposals that enhance Tron’s staking mechanism and ensure compatibility with Ethereum.
The Periander version of Tron’s update includes two governance proposals aimed at optimizing Stake 2.0. These proposals improve the flexibility of Tron’s staking mechanism, providing a more efficient and seamless experience for users. Additionally, the update implements the EIP-3855 Instruction, which guarantees compatibility between Tron and Ethereum at the virtual machine level. Moreover, it reduces the cost associated with using Tron’s smart contracts, making them more accessible and cost-effective.
While Tron’s staking ecosystem has been relatively stable over the last 30 days, with an increase in the number of stakers, other metrics have shown a decline. According to Artemis’ chart, TRX’s daily active addresses have been decreasing over the past month. A similar trend is observed in daily transactions, indicating reduced network activity on the Tron blockchain.
However, it is interesting to note that despite the decline in network activity, Tron’s total value locked (TVL) has been gaining momentum. This indicates that while the number of active users and transactions may have decreased, the value locked in Tron’s ecosystem has increased.
In terms of price action, TRX has shown sluggish movement in recent times. At the time of writing, TRX was trading at $0.07737 with a market capitalization of over $6.9 billion. Although the price remains relatively stagnant, TRX continues to attract traders, as evident from its trading volume.
Tron’s commitment to deflation and value growth is highlighted by a recent tweet from the TRON Community account (@TronixTrx), which stated that 15,927,589 TRX were burned on July 11th, showcasing their dedication to reducing the supply and increasing value. The net negative production ratio of -10,860,726 further emphasizes this commitment.
— TRON Community (@TronixTrx) July 12, 2023
The recent updates and metrics of Tron present a mixed picture for the cryptocurrency. While the ecosystem’s staking mechanism and compatibility with Ethereum have improved, other metrics like daily active addresses and transactions have declined. TRX’s price action remains sluggish, but it continues to be an attractive token for traders. As always, it is essential for investors to conduct their own research and exercise caution when considering investments in Tron or any other cryptocurrency.
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