Tron goes after Ethereum developers with hefty loans, easy dApp migration, and incredible TPS numbers
Tron (TRX) is boldly laying all its cards on the table, as it tries to tempt Ethereum developers into joining its ranks by promising attractive $100.000 USD loans, effortless dApp migrations, and 10.000 TPS. This big move comes just a few days prior to its Main Net launch which is scheduled to take place on May 31st, as announced on the project’s official Twitter page.
“On May 31st (GMT+8) we launch #TRONmainnet and begin our move from the #Ethereum platform, with already more than 1 million $TRX holders ready for fair elections. Be sure to tune in for the livestream event. #TRON $TRX”
Tron is set to leave its Ethereum-based ERC-20 token and become entirely independent on June 25th.
Loans and big money
DAPPs in finance payment, gaming, currency, IoT, energy management, social media, communications, and High Quality Utility Applications for search conversion, development assistance, etc.”
Developers are required to pay back the loan within 18 months, at a zero percent interest rate, as described on the Tron website.
“Loans provided through TRON LOAN will be interest-free for the first 18 months. The developer shall repay the principal balance of USD$100,000 within 18 months, either in USD or mainstream digital asset equivalent at the time of repayment.”
Seamless dApp migration from Ethereum to Tron
When it comes to dApp migration, it seems that the Tron Foundation was hard at work since it recently released the TronVM, that should make the porting process a whole lot smoother, as this tweet shows:
“TronVM v.0.1 will be launched on May 25. This version will be fully compatible with the Ethereum VM. All Ethereum developers will be able to use an adapter to migrate seamlessly from Ethereum dApp projects to #TRON . We will offer a reward program, stay tuned!”
Tron is basically offering developers a streamlined option of moving their dApps from Ethereum to Tron with the help of the new virtual machine. Ethereum VM (EVM) is a runtime environment for Smart Contracts based on Ethereum. It’s entirely separate from the main network and every Ethereum node runs its own EVM implementation.
10.000 transactions per second
Finally, the foundation ensures that its blockchain can handle up to 10.000 transactions per second. That’s a lot, especially when compared to Ethereum’s current speed of around the 15 TPS mark.
This speed is sure to appeal to developers who want to avoid the slowdowns associated with Ethereum’s network, especially after the CryptoKitties launch from last year.