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In a tweet on December 6th, Tron's founder and CEO (TRX) Justin Sun announced that the Tron foundation will build a fund to save developers on the Ethereum (ETH) and EOS networks. Justin's offer had an additional condition: developers migrate their DApps and projects onto the Tron network.
The tweet stated the following:
#TRON will build a rescue fund#ETH is#EOS developers from the collapse of their platform until those developers migrate their jobs to#TRON.#TRX$TRX
The current bear market causes projects to cease operations
His tweet may have been inspired by the recent news that one of the leading development teams working on the Ethereum Classic (ETC) project had to stop operations due to funding problems. The team, known as ETCDEV, announced via twitter that they could no longer continue their development efforts due to funding problems.
Justin Sun announced that one of the ETCDEV developers had contacted the Tron foundation. The tweet can be found below.
You can participate #TRON family! Actually a developer in @etcdev he contacted us. #TRX $ TRX https://t.co/IywyxLp55R
– Justin Sun (@justinsuntron) December 8, 2018
Projects migrating to Tron e Justin's offer, Development on the Tron network will increase
With Justin Sun's funding offer for Ethereum and EOS developers to migrate to the Tron network, the bear market provided the environment for development on the Tron platform to thrive.
At the beginning of the month, we saw the BitGuild team move the Bitizen gaming dapp from the Ethereum network to Tron's. We also saw the Tron Foundation launch a $ 1 million acceleration plan for the creation of DApp on the platform.
The Tron Foundation's financial incentive increases the likelihood that DApp developers will migrate to the platform that has been praised for the following features:
- High yield of 2,000 transactions per second
- Zero commissions for transactions of smart contracts that do not exceed a certain bandwidth
- Ability to integrate zk-SNARKS to improve privacy
- The January NiTRON event to discuss everything related to the blockchain on the Tron network
- Compatibility with the Ethereum virtual machine
Conclusion
The bear market has forced many DApp developers to change their operating budgets or close the store completely. Justin Sun and the Tron Foundation however encouraged developers to migrate from the Ethereum and EOS platforms through the aforementioned incentive to fund their projects. Therefore, 2019 could be the year in which we will see a huge increase in the creation of DApp on the Tron network.
What are your opinions on Justin's offer to developers on the Ethereum and EOS networks? Let us know in the comments section below.
Disclaimer: This article is not intended to give financial advice. Any other opinion present here is purely that of the author and does not represent the opinion of Ethereum World News or one of its other writers. Perform your research before investing in one of the many cryptocurrencies available. Thank you.
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