As a blockchain platform, Tron has been widely advertised as having the capacity for high transaction volume. And right now it looks like the applications making use of that capacity have one primary focus: gambling.
The vast majority of these transactions come from gambling apps, in particular TRONbet. Billed as a “provably fair dice game,” TRONbet had already claimed responsibility for helping Tron pass Ethereum in daily transaction volume back in October.
The decentralized application offers users a simple interface, and the chance to bet on whether a random number will be lower or higher than the number they select.
Last week, the dapp report provided by the Tron Foundation claimed that the network broke 1 million transactions in a 24 hour period, a 48 percent increase on the week before. As of writing, DappRadar, an independent website providing information about dapp usage, showed TRONbet alone as having processed more than 2 million transactions in the past 24 hours. (By comparison, IDEX, the Ethereum dapp with the highest transaction volume, processed 7,500 transactions in the same period.)
In the past week, Tron has also made an exchange for TRC20 tokens available through the Tronscan explorer. Meanwhile, TRX Market, a decentralized exchange built by the Tron community, came online, listing trading pairs for TRX tokens against DICE, BET and FUN—all three of which are associated with gambling dapps.
As BREAKER previously reported, Tron’s founder and CEO Justin Sun posted a series of tweets encouraging Ethereum developers to leave their platform and move to Tron, where they could expect to benefit from a “rescue fund.” The idea that Ethereum needs “rescuing” might be a stretch, but the rapid growth of its competitor speaks for itself.
From the early days of Satoshi Dice to TRONbet today, betting applications have been a key driver of adoption for new cryptocurrencies. For the platform creators at least, making an early bet on gambling pays off in the long run.