Tron is a decentralized blockchain platform with support of smart contracts and decentralized applications. Tron project is aimed at hosting various entertainment content where the authors are keeping its placement, promotion and monetization under full control.
Cryptocurrency experts are forecasting a brilliant perspective to this progressive project. However, in spite of being appreciated to a great extent, Tron is facing a substantial level of criticism related to plagiarism of White paper, speculation of TRX tokens, etc.
Tron was developed by the Chinese non-profitable Tron Foundation, which has a Singapore registration. Justin Sun with his group of like-minded people founded this foundation in 2017. The ICO of the same year attracted more than 15 thousand BTC, selling to investors about 40 percent of the entire one hundred billion emission. The rest of the coins remained in the fund itself. The digital entertainment industry is currently worth approximately one trillion dollars. The main share falls on games such as online casinos. TRON platform is popular in China and key investors are also mainly representatives of this country. TRON Protocol is aimed at creating a global free entertainment network with a distributed ledger. With its algorithm, everyone has an opportunity to freely publish, store and receive data.
The team of this project has professionals working in various fields on its side. The founder of the platform and creator of TRX Tron coin is Justin Sun, who also created a social network with an audience of 10 million people. In 2017, Forbes magazine included Justin in its list as one of the most successful entrepreneurs under 30 years old. In the crypto community, Sun is considered as a young chairman of an aspiring project but he has a dubious reputation for making “announcement of announcements” and for an active use of his personal profile in the social networks in order to fuel hype on Tron’s activities and potential partnerships.
The technical director of the project is Lucien Chen, who has extensive experience gained while working for large Internet companies. He is impeccably versed in blockchains and the principles of cryptocurrency functioning.
Deus Yu, responsible for quality control, having a long career in the computer games industry. According to Justin Sun, Deus` experience will come in handy a little later, when the platform gains more popularity.
Charles Zhang is an advisor who is well versed in the non-cryptocurrency and blockchain business. Charles made a huge contribution to promoting the platform initially.
By the end of 2017 Justin Sun announced Tron’s (TRX) collaboration with Alibaba, a multi-billion dollar company led by Jack Ma. Justin Sun was one of the top students at Jack Ma`s University – Hupan University.
At the beginning of 2018 Tron started the collaboration with the bicycle company oBike and Baofeng (Chinese Netflix), reaching 200 million users worldwide. Another important point is the launch of the MainNet. During the conference, Justin Sun said that immediately after the launch of Tron, MainNet was able to achieve what was spent the last 3 years on Ethereum. Tron also signed a contract with the streaming app Gifto. Tron is becoming a global cryptocurrency for large investors: this can be explained by the tremendous efforts that the team made to get to the level at which it is now. Of course, it is worth mentioning the serious acquisition of Tron – BitTorrent, which will undoubtedly help raise the price tag for this token.
Tron (TRX) features
Tron has several key features such as:
- Free content. The number of paid services is growing, but the Tron system is built in such a way that a user can quickly and absolutely free access to entertaining content.
- Peiwo App. This app is founded by Justin Sun and co-developed with Tron having 10 million fans and confirming its effectiveness.
- Creation of applications. Developers can create their own apps via a multi-protocol infrastructure provided by the system.
The following factors are in favor of this project:
- active support of the cryptocurrency community;
- sharing economy at the core;
- decentralized blockchain technology;
- availability of smart contracts;
- no requirement to pay for expensive OS applications.
Tron (TRX) is the main currency of the system, for which you can buy or sell the results of your intellectual work. The benefit of Tron cryptocurrency ecosystem for content producers is that they are rewarded for distributing their products to users. If necessary, the owner of a certain amount in a given currency can exchange it for fiat money or another cryptocurrency.
This cryptocurrency was based on Ethereum platform, which gives it versatility and implements storage on a variety of crypto-wallets with ERC20 support. (eg MEW, Mist) or cold wallets (eg Ledger).
Tron Power. It is impossible to buy or exchange other money for this currency. The only way to get them is to fix the TRX currency on the site platform. In this case, they are converted to TP. The presence of such tokens gives advantages to their owner. For example, a TP holder has the right to vote for certain changes in the system, or to oppose them.
Tron 20. Coins owned by the developers who use them for creation of new full-fledged blockchains with new tokens.
The platform developers did not provide for the mining of the TRX Tron cryptocurrency, since they had already created all the necessary coins. In addition, the creators explained about the scheme according to which their cryptocurrency will work:
- 40% of the total number of coins will be sold to enable the further development of the project.
- 15% of the remaining amount is allocated for acquisition by investors. Investors are players who, after the main coin sale, will be ready to further purchase the tokens.
- The rest of the funds are “frozen” and remain in the accounts of the company’s owners.
Justin Sun has explained that it is possible that mining will be provided in the future, when the company gains the necessary popularity.
Tron (TRX) Price Analysis
When analyzing and making a forecast of TRX price, one should proceed from how the price behaved earlier. Tron is a fairly young cryptocurrency, created at the end of 2017, and the network was launched in mid-2018.
ICO was taking place in 2017 from August to September. The idea attracted many investors and raised $ 70 million during the initial coin offering. At that time there was no complete project, it was only partially presented on the official website, but this did not prevent the company from collecting such an amount of money.
During the ICO period, TRX Tron price was $ 0.002. After the token release, in December 2017 the price climbed to $ 0.05. The maximum price was fixed at the beginning of January 2018 at $ 0.30 per 1 Tron, and then the price continued to fall again until 2020.
TRX Tron has recently been one of the top 20 performing digital assets. The coin is up over 15% in a day and more than 80% in a week. At the time of writing, TRX is changing hands at $ 0.0438. The coin has moved to the ninth place in the world ranking of cryptocurrencies with a current market capitalization of $ 3 billion.
Following TRX Tron news Wall Street experts predict Tron TRX price in the amount at least $ 40 by the end of 2020. Justin Sun is a big crypto enthusiast himself and he believes in constant innovation. Thus, in the long term, Tron may become one of the most sought-after cryptocurrencies thanks to wide support from organizations around the globe.
According to CoinSwitch forecasts, TRX could rise in price to $ 0.763 by 2025.
According to DigtalCoin, Tron is a good investment. Over the next 6 years, the price may also change and amount to $ 0.05732635.
TRX price forecasts differ slightly from each other. To be honest, many people dislike the project for various reasons, however it has a very active and loyal community. Based on fundamental analysis, TRX future looks good and may even exceed expectations as the area covered by TRX is constantly expanding and as well as sources of funding. Tron Foundation invests in its own development by purchasing demanded companies. Putting all the variables and facts together, it becomes obvious that interest in the company itself and the cryptocurrency is constantly growing.
Altcoin Tron (TRX) will be able to satisfy the needs of both entertainment lovers and those ones who are seeking to enjoy the benefits of blockchain. A long-term roadmap may seem like a disadvantage to someone, but it is a good reason for investing in the future.
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Disclaimer: Please keep in mind that the content of this article is not financial or investing advice. The information provided is the author’s opinion only and should not be considered as direct recommendations for trading or investment. Any article reader or website visitor should consider multiple viewpoints and become familiar with all local regulations before cryptocurrency investment. We do not make any warranties about reliability and accuracy of this information.