Written by Shillasaurus:
Crypto certainly has its quirks. Bitcoin is a slow-moving giant that has established itself as “king” in this space. Nothing has quite come close to its market share, at least in the peer-to-peer payment department. Then there’s Ethereum. Ground-breaking in its concept of using a virtual machine and smart contracts, Ethereum has designed a blockchain on which decentralized apps (dApps) can be built. But for anyone who has used Ethereum—especially during the past weeks of the Uniswap/Defi hype—they know that it is both slow and costly.
It makes sense for a faster and more mutable dApp chain to take the place of the slow and expensive Ethereum, but why hasn’t that happened yet? I have been using Tron for months now. Most of my use has involved gaming or the occasional Texas Hold ‘Em or roulette gambling dApp. One thing I am always amazed with is how lightning fast Tron is when I send it from wallet to wallet. The new Tron update is boasting speeds of 10,000 transactions per second (TPS), while Ethereum is still sitting at 20 TPS! So why isn’t Tron being adopted?
Tron is great but as everyone knows, the public opinion of its leadership has been an issue for the ecosystem and the community of projects that build on it.
The old saying goes, “Don’t throw the baby out with the bathwater.” A team of blockchain developers have decided to take this advice with Tron. Justin Sun saw the value in Ethereum, so he forked it and made it better. While Tron’s focus seems to be on their projects, LGCY Network just wants to be a platform for the community to build on. So, LGCY Network has decided to fork Tron. They are making a few changes to avoid the issues that lead to Tron’s public image problems. The project plans to split the government up into three branches to separate out the powers, discouraging one person or entity from gaining control of the whole chain. They have created a developer fund to encourage projects to build on the chain and to show appreciation for their hard work. Also, at the end of the third year they are going to burn a third of the supply so that it will be a lot less likely than the current system for an individual to remain in control of the government system. At that point it will be a truly decentralized blockchain.
Crypto seems to be begging for a project like this to come along, and I for one am ready to see it.