Justin Sun: Rescue fund for EOS and ETH Devs if they migrate to TRON
The founder of the TRON Foundation, Justin Sun has announced that a fund will be created by TRON to rescue the developers of Ethereum[ETH] and EOS [EOS] if they move their Decentralized Applications (DApps) to the Tron network, he said in a tweet.
— Justin Sun (@justinsuntron) December 7, 2018
In the midst of this severe market collapse, which occurred, in large part due to the Bitcoin Cash [BCH] lawsuit, the collective market cap has fallen to under $110 billion. The top crypto Bitcoin [BTC] has fallen below the $3,500 mark for the first time since September 2017.
Both EOS and Ethereum are seeing double-digit losses, with the former being the worst performing coin, not just in the top-10 but in the top-30. According to CoinMarketCap, EOS [EOS] has plummeted against the U.S. dollar by 23.13% and is priced at $1.69, while Ethereum [ETH] the second most prominent altcoin, after XRP, has fallen by 16.64% and is priced at $85.44, its lowest price point since April 2017.
In terms of DApp, TRON has been doing exceedingly well, surpassing Ethereum’s DApp volume in mid-November. As per DApp review, IDEX, the most successful DApp on the Ethereum network has a transaction volume of 2450 ETH transactions in 24 hours, while Tronbet, has in excess of 422 million TRX transactions.
To further push the DApp volume on the TRON platform, the foundation introduced the TRON Accelerator, a $1 million competition that would empower developers to build their DApp on TRON.
TRON’s DApp ecosystem will get a further boost in January 2019, with the two-day niTROn summit. The second day of the summit will host a forum specifically for developers to promote the creation of an ecosystem around the blockchain. The forum is set to cover Super Representatives, DApp/Smart Contract development, game engine development, public chain research and more.
Earlier this week, ETCDEV, an Ethereum Classic [ETC] development team shut down its operations citing financial difficulty and the recent bearish market conditions. This announcement follows a trend of crypto-based start-ups shutting-up-shops due to the falling market.
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