On 17 th August, Justin Sun, the founder of Tron published a video statement that related to Tron's vision for the future and future plans of the Foundation.
Justin Sun was very frank in admitting that Ethereum is the biggest competitor of the Tron Foundation, citing that Ethereum has several advantages. The advantages mentioned by him include strong code simulations and a fully functional blockchain. He then claimed that Tron also possessed several winning cards that would one day allow him to become bigger and better than Ethereum.
According to him, Tron has a significantly higher network transaction speed, citing figures as 2000 transactions per second on the Tron network compared to 25 Ethereum transactions per second. Justin then said that Tron's global team is bigger and more conducive to growth, mentioning the recently held global rally in San Fransisco.
The Foundation was in the news for conducting its first global meeting of all hands, in which all members from Beijing, as well as from San Francisco, attended the meeting. The Foundation stated that the Tron family has grown from 108 members to 300 members.
The company aims for rapid growth, added the Founder, with plans to bring the Tron family from 300 to 1000 in 2019. Justin went on to say that the Tron network has over 2 million token holders that make it the largest working blockchain in the world. He reiterated his belief that Tron will overcome Ethereum by acting as a facilitator in a futuristic economic system.
He then went on to elaborate the concept of Tron as an ecosystem and added that Tron will provide infrastructure for applications and software to grow and function. Sun said that Tron is a very friendly environment for games and building software to help users better understand blockchain technology.
Justin added that the acquisition of BitTorrent has been an important landmark in the company's history. BitTorrent is set to become the single largest application on the blockchain network, with a user base of over 100 million users. The CEO then specified that traffic congestion on the Ethereum network due to games like Cryptokitties is a problem Tron Network is trying to solve.
In addition, Justin added that in future Tron will be 200 times faster than the Ethereum Network which aims to manage over 100 million transactions a day. The company also stated that mass adoption is the key and applications like Tron scan will help achieve this goal.
The company also revealed that the Virtual Machine will be launched on the Testnet on August 30th, where users will receive an environment where all applications will be visible. This transparency, according to the CEO, will be one of the key points that will allow Tron to overcome other blockchain technologies in the industry.