TRX Token Will Soon Operate on Solana Blockchain, Promises Founder Justin Sun

Justin Sun, founder of TRON, announced this week that the TRX token will soon operate on the Solana blockchain.

"TRX will be soon on solana. Ready to buy and collaborate 🤝," crypto billionaire Justin Sun announced on X this week, quickly boosting TRX by 8%.

What Happened: TRON (CRYPTO: TRX) and Solana (CRYPTO: SOL) are among the leading cryptocurrency networks, recognized for their speed in processing transactions and low fees.

Those are also the main topics tying TRON and Solana together, with Solana being able to process transactions at a rate of about 6,274 transactions per second, compared to TRON’s 2,268.

However, TRON boasts an impressive number of daily active users, currently standing at approximately 3.1 million, whereas Solana has 2.84 million.

Despite Solana’s speed in processing transactions, it’s still in the testing phase with batch transactions, which could significantly increase throughput. Additionally, Solana’s gas fees are lower, making it more appealing to users focused on cost-efficiency.

TRON, on the other hand, suffers from isolation due to limited direct connectivity with major exchanges or other popular blockchains. This lack of bridges, which connect different blockchain networks, hinders the potential for TRON to expand its reach in sectors like Decentralized Finance (DeFi) and Non-Fungible Tokens (NFTs).

DeFi systems are blockchain-based financial systems that operate without traditional banks, while NFTs are unique digital assets, frequently used to represent art or collectibles on the blockchain.

TRON aims to expand its presence in these rapidly growing markets, and this integration with Solana could be a crucial step. It is especially relevant for expanding the use of stablecoins, cryptocurrencies pegged to traditional currencies like the US dollar to maintain stable values.

However, some issues arose following Sun’s announcement. In response to the news of TRX arriving on Solana, several Solana users quickly set out to create unofficial TRX tokens, leading to financial losses for some.

One expert on cryptocurrency scams and investment advice points out the importance of investors being vigilant and noting that they are still awaiting more technical details from Justin Sun on how the integration will work.

It is also noteworthy that Sun, previously recognized for his role at Ripple Labs (CRYPTO: XRP) and studies at Hupan University, founded by Alibaba's Jack Ma, further solidifies his position as a key figure in the global crypto market.

Now Read: Why Is TRON (TRX) Token Surging Today?