Home Blockchain NewsBitcoin News Tron (TRX) Struggling to Scale? Down 5.7 Percent

Tron (TRX) Struggling to Scale? Down 5.7 Percent

by Rss Feed from web
bitcoin news feed
  • Tron (TRX) prices stable at 2.5 cents
  • Critics claim Tron cannot scale and SUN side chains is a cover for that deficiency

By default, Tron claims to be scalable with high throughput. However, critics are back arguing that the SUN Network is a cover for the network’s inability to scale and handle BitTorrent’s requirements. In the meantime, Tron (TRX) prices are ranging and down 5.7 percent from last week’s close.

Tron Price Analysis


There is Blockchain trilemma, and here developers are struggling between striking a balance between decentralization, security, and scalability. Of the three, Tron supporters are confident that the network is secure and scalable.

Of decentralization, the adoption of DPoS consensus algorithm means 27 super representatives do validate and secure the multi-million-dollar network. Like EOS, Tron architects did prioritize scalability and speed over decentralization. However, there are also concerns because even in a high throughput network, security is not a guarantee.

Besides, a high TPS platform calls into question the level of centralization of which Vitalik caps saying all high TPS network are in essence “centralized piles of thrash.” Regardless, Tron is developing, and as a scalable network, Justin Sun is planning on side-chains in a bid to improve the platform’s capacity.

Even so, is Tron trying to cover the inadequacy of the platform by introducing SUN networks after finally realizing that their “DPOS AWS chain can’t scale, so you add another DPOS chain on top of it?”

When you finally realize your DPOS AWS chain can't scale so you add another DPOS chain on top of it https://t.co/Ps6msDVSvh

— James Spediacci ⟠ (@JamesSpediacci) April 3, 2019

Here’s what Simon Morris, a former executive of BitTorrent had to say:

“I suspect that what they’re really going to do is they’ll do it on some central server, they’ll wave their hands and say, ‘Oh, it’s a Lightning Network for TRON,’ or something, and pretend it’s TRON-based, but it’s not really TRON-based.”

Candlestick Arrangement

At the time of press, Tron (TRX) is down 5.7 percent and in red territory. By all measures, the coin is underperforming and out of the top-10 by market cap. Nonetheless, candlestick arrangement points to bulls.

As visible from the chart, Tron (TRX) is finding support off the 50 percent Fibonacci retracement level of Dec-Jan high low. Coincidentally, the level is also our previous resistance now support, at 2.5 cents. Moving on and in line with our last TRX/USD trade plan, aggressive traders should wait for a complete reversal of Apr-21 losses.

After that, assuming the reversal is at the back of above average transaction levels, then can initiate buys on dips with targets at 4 cents. Meanwhile, conservative traders should ramp up once TRX edge past Apr-8 highs of 3.1 cents.

Technical Indicators

In the short-term, Apr-21 bear bar anchors our trade plan. With high volumes—5.2 million, bulls need to reverse these losses with equally high volumes for trend continuation as buyers of Mar-23 to Apr-2 flow back.

Chart courtesy of Trading View

The post Tron (TRX) Struggling to Scale? Down 5.7 Percent appeared first on NewsBTC.

Click To Read Full Article

* First published on newsbtc.com

Related Posts

Leave a Comment