As of late, Tron (TRX) has been attracting more and more attention from traders and investors across the cryptocurrency world. However, the community seems to be divided when it comes to Tron, having both devoted followers and harsh critics.
At the moment, the coin is ranked 10th on CoinMarketCap and, if things don’t take a turn for the worst, we might be able to see it entering the top 5.
What Is Tron?
Tron (TRX) is a blockchain-based platform that aims to decentralize content-sharing on the Internet, giving artists and creators the possibility of releasing their content without having to use third-party platforms such as YouTube or Facebook.
With a steady trade volume of over $166,862,000, TRON has positioned itself in the top 10 most traded cryptos. TRX is available for trading on 50 mainstream exchanges worldwide, having 100+ trading pairs, in over 30 countries and regions.
Technologies and Applications
TRON’s first version of a virtual machine was launched on May 25th. In the first phases, it was compatible with Ethereum VM, allowing Ethereum developers to use Solidity and other programming languages for smart contract scripting.
TRON offers a range of reward programs for developers including hackathons and programming competitions that add up to 2 billion dollars in prizes. This is a first in the industry, both regarding the reward pool and the program features.
The TPOS algorithm makes TRON much faster than Ethereum regarding transactions per second. The bandwidth-based transfer mode requires practically zero fees. That is why TRON might be especially appealing for users looking for a solid alternative to Ethereum which requires its users to pay “Gas” and other network fees.
The digital currency was developed by 26-year-old Justin Sun, a self-declared acolyte of Jack Ma, Alibaba Chief Executive, and billionaire. Sun has a lot of crypto experience under his belt as he’s the former Chief Representative for crypto platform Ripple’s Chinese department.
When the Testnet that was launched on March 31st, Tron seemed to be getting a lot of traction on the market.
In April, the crypto market experienced a drop in prices. One primary reason that determined the plunge was the ban of crypto-related content and ads on some of the most popular social media platforms. Most coins experienced the negative effects of this general ban, including the top coin, Bitcoin. However, when the crypto market was going through this fall, Tron strategically launched its Testnet.
When the news of this launch caught wind, many people manifested a keen interest in Tron. At the end of May, the Tron Mainnet was fully functional, after its official launch in Beijing. The Mainnet inauguration was announced on Yizhibo, Periscope, and Youtube, with 30M+ views from people from all over the world. Investors from China, Russia, Spain, South Korea, Japan, and from some Arabic countries were also present.
The Tron team received praise for the mitigation function that was tested recently. With this new system, users can send content through the network. The transfer of content will be carried out peer-to-peer without any interferences. This gives Tron the upper hand in the entertainment industry by paying those who create content.
The official Tron VM version will be launched on July 31, after which developers will have the ability to fully use the VM to create applications.
One of the biggest improvements for the platform is set to take place in Q1 2019 when commence sharding will be added. This means that one node will be split and shared among several users. This way, the stability, and reliability will be significantly improved for the often overburdened super-full nodes.
Set to arrive in Q3, the next major upgrade, Odyssey 3.0 will feature VM adaption layer that offers support to hot-add/hot-plug protocols, as well as enable smart contract development on the Mainnet directly.
Even more, features will be made available on Q4, including multi signatures and Byzantine fault tolerance, or BFT. Simultaneously, the P2P network of TRON will be released as a free-fare and free-standing module.
On June 25, TRON will finalize the Mainnet token relocation and will switch from the ERC-20 token, which will make it one of the most competitive mainstream blockchains on a global level.
TRX’s independence from fiat has been one of the most important setbacks for the mainstream adoption. If TRX could be purchased just by using fiat currency, it would have been more accessible to a larger range of investors and traders.
Ethfinex is currently the highest exchange that trades using fiat pairs. However, the exchange pair for TRX ranks at a low 30 in the rankings out of 50 exchanges that deal TRX. Other exchanges trade TRX with fiat currencies but the total daily volume traded on all of them is less than 1% combined.
Along with all these new developments, Coinflip, a Bitcoin ATM provider, has added TRX on its list of supported coins, making it more available for its United States users and enabling them to buy the coins from the ATM directly.
The company manages more than 40 Bitcoin ATMs across the country. This will permit anyone from the United States to purchase TRX directly from the ATMs by using fiat currency.
Ban of crypto adverts
The trend of banning cryptocurrency advertisements on major social platforms such as Facebook, Twitter and Google/YouTube will prove to be advantageous for the Tron platform. Users will be able to broadcast what information will be taken down, cutting down on censorship. Even if this is an advantage for Tron, nothing was proven at this moment as the main net was just launched.
With all of these developments in plan and considering that Tron successfully made its way into the top 10 coins on CoinMarketCap, it would be no surprise if the platform will manage to rise and hold a place near the top 5 cryptos this year. However, this is just a speculation based on previous events. If you want to invest in Tron cryptocurrency – you need to do your own research first.
TRON additional contact and information:
- Website: https://tron.network/index?lng=en
- Email: [email protected]
- Blog: https://medium.com/@Tronfoundation