The Tron (TRX) network is just inches away from reaching a new milestone of 1 Billion smart contract triggers.
At the time of writing, smart contracts on the Tron network have been triggered 928,739,657 times, a fact that was recently highlighted by the project’s founder and CEO, Justin Sun.
“According to @TRONSCAN_ORG, Smart Contract Triggers on #TRON network has surpassed 900M and reached 926,324,931,” Sun tweeted.
The milestone of smart contract triggers closing in on the 1 Billion-mark can be largely credited to the prevalence of decentralized applications (DApps) on the network.
As per data from DappRadar.com, five out of the top ten most used DApps are on Tron, while the bulk of the top 50 DApps ranked on DappRadar are also built on the network.
Tron’s market growth in terms of popular DApps and surging smart contracts is reflecting on the TRX price, with the token currently displaying a bullish trajectory.
In the past few days, TRX experienced a local peak of $0.02135 before correcting slightly lower to$0.01750. However, the 16th largest cryptocurrency on CoinMarketCap has since bounced back to trade at $0.019240 during press time.
Tron Setting Foot Into DeFi
Tron CEO Justin Sun recently took to Twitter to announce his startup’s venture into the decentralized finance (DeFi) sector. He said that his company has a project dubbed “JUST DeFi” set to launch three new products for the decentralized finance ecosystem.
Then on July 21st, Sun unveiled the roll out an alternative to the Ethereum based Uniswap that will be dubbed “JUSTswap”.
The TRON based protocol is projected to launch a few weeks from now on Aug.17th and aims to provide a service to solve the problem of decentralized liquidity on the Tron network.
The Ethereum-based protocol will reportedly allow ERC-20 tokens to be exchanged, but without traders having to create buy or sell orders.
Sun also revealed that his network is working on yield farming between the stablecoin JUST (USDJ) and the JST token, scheduled to be available from Aug. 31st.
Yield farming has also gained massive success in ETH because it allows investors to utilize their crypto holdings to generate the highest returns.
Crypto Community Critic Tron Network
As TRON continues to expand its DeFi sector infrastructure, there has been harsh criticism from the crypto community, with some members accusing TRON of “copying” trends from Ethereum to profit from the hype.
In fact, most in the crypto sphere twitter view Tron as an extremely centralized platform that is losing its vision to create a decentralized web.
One twitter user bashed Tron’s entry into the DeFi Space by arguing: