What is Tron?
Tron Review: Before engrossing yourself in the Tron coin analysis, do you not want to know what exactly it is? The Tron application is created to allow content creators to get compensated for the act of sharing their content. It has decent storage capacity and protocol that lets users access entertainment content from across the globe. It does not need GooglePlay Store or Apple Store as they both charge surprisingly high fees. Tron has done away with all the mediators and has allowed users to receive funds directly.
A coin overview can be found in the white paper, where it is made pretty clear that Tron primarily aspires to revolutionize how the world currently consumes entertainment. Users are made capable of publishing, storing, and owning data easily. As a consequence of the latest creation of a content distribution platform that is decentralized has been done.
This cryptocurrency company has been taking an innovative approach to facilitate interaction that is individualized or one-on-one amongst various sources of content and day-to-day users. This approach has had a remarkable impact on the worth of its cryptocurrency and future price predictions in the years to come.
History
The history of coin insinuates the high expectations. On the 9th of September in 2017, Tron made it to the market in ICO. After having raised a surprising 81 million USD within a few days, Tron was able to be tokenized into what can be called a legitimate cryptocurrency by the end of the year 2017.
Ever since the coin was released, a lot of the attention has been circling the pleasant founder and CEO of Tron – Justin Sun. Despite his young age, the list of his achievements has managed to include in itself the following:
- Got to attend Hupan University, founded by Jack Ma.
- Peiwo App’s Founder, also known as China’s Snapchat.
- Graduate of the University of Pennsylvania.
- The rest of the trade company proves to be impressive. CTO Lucien Chen remained Alibaba’s former employee. They also get to have veteran tech expertise on the team in the form of Morong Lin and Xiadong Xie.
- 2015 Forbes China 30 under 30.
- 2017 Forbes Asia 30 under 30.
- Former Chief Representative of Ripple China.
Key Features
Below is an abstract of the key features of coin that users may take advantage of:
- A private ICO as well as its capabilities to dispense any of the digital assets.
- A content ecosystem where users get to acquire digital assets by spreading content.
- The free & unrestrained flow of data.
- A sophisticated and well-maintained infrastructure that enables digital asset distribution, including games and market forecasting.
Growth
The Tron coins’ value has over time been enhanced by support in the Chinese business community, which includes the likes of:
- Dai Wei – CEO of OFO bike.
- Hitters Xu – founder of Nebulas.
- Chaoyang Wang – founder of China Equity Group with a $2 billion market value.
- Xue Manzi – popular Chinese angel investor.
- Tang Binsen – the mobile game Clash of Kings’ founder.
The growth rate of the coin has also visibly risen thanks to the declaration of them shifting TRX onto the Peiwo App. The latter subsequently will allow an easy exchange of coins amongst the 10 million users.
Additionally, graphs of cryptocurrency mark an important, visible growth in December 2017. The price at the beginning of the month was $0.0020 but had hit $0.05 per Tronix token by the month’s price. Tron was, in fact, the 17th largest cryptocurrency in terms of market capitalization at about $2.2 billion.
Right after a month, John McAfee helped write the history of cryptocurrency as he tweeted his support for the same. Tron had by then actually exceeded the mark of $10 billion US dollars and had been ranked the 10th largest digital currency concerning market capitalization.
Partnerships
Tron’s trading price has been known to fluctuate every time significant cryptocurrency declarations are made repeatedly. December 2017, for example, witnessed the founder announcing how the developers of the Chinese e-commerce giant alibaba.com had then joined forces with Tron.
January 2018 subsequently witnessed the collaboration of Tron and bicycle-sharing system oBike. It wasn’t long after the time when information about collaboration with Baofeng, popularly referred to as the Chinese Netflix, went viral on all sorts of crypto-coin forums and blogs. Baofeng, at present, boasts more than 200 million users.
Such deals are featured largely in cryptocurrency news and will carry on to witness Tron’s price rise on trading sites.
Benefits
Tron’s cryptocurrency reviews are quick to highlight several benefits, including:
- It remains clear from coin reviews that Tron’s market capitalization has significantly benefited from many of these valuable features.
- It turns out to be straightforward to buy on Binance and trade.
- Tron allows users to own various data and content associated with the entertainment industry without requiring intermediaries. This gets to be a clear transition towards data liberation.
- There remains a powerful core team behind the same project. Forbes has also published a write-up related to Tron’s CEO, entitled ‘Could This Millennial ‘Crypto’ Tech Visionary Be the Next Jack Ma?’
- The Tron coin has witnessed weeks where its value rose beyond 2000%.
- Tron intends to offer users to initiate their coin offerings by dispensing digital assets individually.
- The final two phases in Tron’s roadmap center on the gaming industry and market forecast. As a result, many investors & traders may get to generate profits through the gaming industry & future market scenarios. This step could have put a tremendous effect on the value & growth of Tron.
Drawbacks
Despite the latter mentioned benefits, the history of cryptocurrency has already been able to highlight several possible risks:
- There has been existing some coin burning & there exists a risk of more. By getting to destroy coins in the same manner, the value gets to be essentially destroyed. In case, you have held 500 TRX coins & they got all burned, the overall worth of Tron may increase slightly, but you’d get to be left out of pocket.
- The Tron network is on the way to prove itself & demonstrates that it can seize a substantial market share from the associated competitors.
- As an outcome of the roadmap, having everyone motivated & heading in the correct direction may get to be challenging in the long term.
- Tron is at risk of being inherently decentralized. If developers make the wrong decision with premise coins, some may view the entire project as too controlled and centralized, deeming it untrustworthy.
- There is a huge number of coins in supply, around 100.000.000.000.
- In terms of cryptocurrency coin mining, Tron is different. You cannot mine TRX tokens with a mining GPU or anything else.
How to Buy Tron Coins?
Buying this cryptocurrency is luckily more straightforward as opposed to others. There are several coin exchanges that one can choose to turn to. You can day trade TRX for BTC or ETH at various trading exchanges, including the likes of Liqui and Bitstamp. New traders can also buy BTC coins or ETH coins on Bitstamp or Coinbase and subsequently deposit it to their waller of cryptocurrency on Binance. Binance is largely seen as one of the best options, thanks to its low transaction fees.