One of Tron’s main dApps Tronbet is said to have paid out at least 200 million TRX to winners among its users after its launch just last week.
This announcement was made by Tron’s Founder Justin Sun in a tweet on his Twitter pagetoday. Tronbet had started making enormous progress since its launch last week with about 180 thousand transactions in a day. In fact the dApp accounts for 20% of Tron’s daily transactions, playing a key role in Tron exceeding Ethereum daily transaction volume.
The fast rise in transaction volume due to this app may be because of high trust users have for it because of the fact that it is open source and its conditions for playing and winning can be easily verified and trusted.
Tronbet provides a betting platform that allows users to bet on the number to be selected in the next smart contract. Bets are placed using TRX and each bet generates Ante Tokens, with users getting 1 Ante Token for every 1000 TRX placed.
Tron is a major threat to Ethereum when it comes to dApps. It has launched at least seven dApps including Music Content Platform, ESports, Payment Solution, Tipping, Wallet and Chat applications known as Music Casper, Intergalactic Gaming (IG) platform, HummingPay, Seedit, and Tronwallet respectfully.
It also became very popular following the launch of Tron Virtual Machine (TVM) earlier this year which gave rise to the building of dApps one of which is Tronbet.
Ethereum Virtual Machine (EVM) used to be the platform of choice for building dApps but with the arrival of TVM, many developers have migrated to the latter due partly to the inability of Ethereum blockchain process large transaction volumes due to cryptokitties.TVM is also really fast, with upto 2,000 transactions every second and “three-second block times.”
Apart from dApps, Tron’s “displacement” of Ethereum may be traced to the other products it has launched which are designed to function just like Ethereum’s products to encourage migration to the Tron network.
These products include Tronweb which is designed to function like Ethereum’s web3.js. Other products are Tronbox and Tronwatch Market, all of which have greatly contributed to making Tron more acceptable for transactions, building of dApps and now betting with Tronbet.
With these products and the speed of its network, tron may remain ahead of Ethereum in terms of smart contracts which Ethereum creator Vitalik Buterin has said he regrets adopting.
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