Many cryptocurrencies have sprung up in recent years but no many can make investors sit up and take notice the way Tron did. Now, users are able to earn digital assets when he uploads data, video or audio on this platform.
You can now trade TRON, use this link to open a new trading account, get 5% rebate for every trade!
Background of Tron
Justin Sun is the man behind Tron. He formed the Tron Foundation in 2017 in Singapore. Trading of Tron is through is a market name known as TRX or Tronix. Being one of the more recent additions to the already crowded cryptocurrency market, Tron has been making waves in its own ways to stand out.
Not another crypto
What makes Tron such an interesting cryptocurrency for investors is its unique positioning. For starters, the Tron Foundation seemed to be catered to the entertainment industry. Using the same methods and platforms with distributed storage with decentralized technology means it is able to cater to investors across the world.
How different is Tron?
Tron connects the creators directly to the users of the cryptocurrency. This means there is no need for brokers and middlemen. As such, the creators of digital content will now earn their profits directly from their customers (and users). Besides that, Tron runs like a social network without needing viewers to like or generate hits which is a genius business strategy.
A public ledger is used to record Tronix transactions. The creators are able to enjoy better control over the data within their social media platform. Unlike other cryptocurrencies, TRX cannot be mined. After all, it was designed to provide a limitless spread of data.
Maintained by the TRON Foundation in general, the protocol functions through an equally distributed system of computing resources. This is done through the holders of TRX and has its own internal pricing of energy rate, bandwidth and other factors. With this virtual machine, TRON is able to use an international network made up of public nodes to execute programs with the ability to carry out about 2,000 transactions per second with no fees imposed.
As such, TRON has been likened to that of the EOS.IO since it has very minimal fees and high transactions. furthermore, it is known to be very reliable and regarded as one of the newer blockchain technologies around.
Tron – 2021 Updates
In 2017, TRON’s initial coin offering (ICO) raised about US$70 million just before digital tokens were banned in China. While it has been accused of plagiarism, TRON has since denied all such allegations. A year after that, it moved on to the ERC-20 token that runs on top of the Ethereum and has been branded to be a competitor to the ETH. TRON took over Bittorrent in July that year, whose founder went on to start Chia.
As at January 2019, the market capitalization of TRON totaled to US$1.6 billion. To date, several criticisms have been hurled toward TRON’s direction with one claiming that one computer is all it takes to bring down the entire TRON’s blockchain.
In April 2021, several altcoins saw their prices dropped significantly after investors starting taking a profit in the market. That was when both BTC and ETH too suffered a huge drop as well. This saw the TRX dropping to US$0.127, bringing it to the lowest at that time. In fact, with more new regulations coming around in the United States, investors are anticipating more profit taking soon.
In 2020, it was predicted that the price of the TRX would only hit a high of US$0.0866 before 2021 ends. However, as of May 2021, it has already breached the US$0.1 mark which means that the previous predictions are now outdated. That said, it is also highly probable that TRX will stay within the US$0.1 bracket, rising to as high as US$0.3 at some point before normalizing for the rest of the year.
TRON works with Samsung for users’ access to the blockchain
Since coming into the cryptocurrency scene, TRON has been slowly moving up the list among the bigger players. It has since announced several partnerships with top companies and digital exchanges to further expand its influence. However, one notable one that came about was back in January 2020 when it announced its cooperation with global tech giant Samsung. With that, users of the Samsung Galaxy S10 smartphone could have access to the TRON dApps (short for decentralized apps), according to TRON head, Justin Sun.
The project was added into the Blockchain Keystore and this is a huge step forward for TRON especially on the development of its ecosystem and eventually for the crypto to reach a larger target audience. Through the dApps, users can now access the blockchain and find out more about what they can do. It will be a platform where they can explore the power of decentralized finance which could now be done through their respective smartphones (Samsung). Since then, it has gone on to break new grounds and records including averaging more than 100,000 active users each day. The TRON network also saw more than 1,400 new dApps created by the end of 2020. This has helped to facilitate more than US$12 million worth of transaction volume daily.