Ever since Bitcoin was first announced, the crypto trading market has grown relevantly mainstream. Cryptocurrency is now a much more widely discussed topic, and many “everyday” people are now investing in it.
Since the launch of Bitcoin that started it all, many cryptocurrencies have come and gone. However, Tron or Tronix (TRX) is one that shows vast amounts of promise thanks to its purpose-driven approach and strong following. But it’s not merely another Bitcoin copycat.
At its core, Tron is a platform and digital currency. Content can be shared, and entertainment can be had. The Tron network runs on blockchain technology and it is decentralized, allowing for peer-to-peer interactions amongst users. It's like a fresh, innovative take on social media that enables users to share content with anyone no matter where they are in the world. In the blockchain behind Tron, Tronix (often called TRX) is the coin that's used as currency within the system.
Users use the TRX coin to pay for their content. Most of the early adopters are people who like other digital forms of entertainment, such as social media and even virtual gambling.
When you use TRX inside of the Tron platform, you're able to share the content you love with other people around the world. When you create content, you are also rewarded for that. This is the complete opposite of the mainstream platforms most people are using right now, like Facebook, which often shares and monetizes user data without them even knowing it. Tron, on the other hand, works to repay active users.
Tron keeps you in total control over your data within the platform, and any content you create is going to score you some compensation.
Part of the reason for Tron's on-going success isn't just their business model; it's also the number of successful partnerships they have managed to cultivate along the way.
Up to this point, the platform has already had some impressive partners, including Southeast Asia's largest bike-share company, known as oBike. oBike launched oCoin out of Singapore in January 2018, and they did so through Tron's platform. The oCoin has a value in everyday life since people can use the oCoin to rent bikes through oBike's platform. In turn, users can earn more oCoins just by riding an oBike.
Another partnership that was considered a significant milestone for Tron was Bitmain. Anyone who participates in Bitcoin mining already knows the name because Bitmain leads the industry for ASIC chips that are required for mining processes. Other partners include ZAG-S&W, a top law firm with international roots. While it may not sound too exciting, ZAG-S&W was a very strategic partnership for the Tron platform because, as the platform continues to grow, it can pull on the law firm for assistance with legal adaption.
Tron continues to be listed on new platforms, so legal support is a huge plus. The not-for-profit organization that runs the platform is considered the partnership beforehand.
In October of 2018, Tron revealed their plans for Project Atlas - a collaboration with BitTorrent to pay seeders with crypto.
As just mentioned, the team behind the Tron platform is a not-for-profit organization, which distinguishes the platform from many other up-and-coming blockchain operations. The Tron Foundation is the name that backs the platform, and the entity is currently headquartered in Southeast Asia. The foundation spends most of its time operating the crypto network of Tron, and it's also working to promote its fundamental principles, which include fairness and transparency.
At the Tron Foundation, the team is very forthcoming about their work. On multiple occasions, the key team members have stated that compliance and regulation are considered to be the two most important values to the foundation. As such, the foundation is operating under the approval of Singapore's Accounting and Corporate Regulatory Authority. The Company Law of Singapore also supervises them.
Justin Sun is Tron’s CEO and founder. He's 27, and before launching the Tron Foundation, he started out with an app called Peiwo. He founded Peiwo some time ago, and it has since amassed more than 10,000,000 users. It is the first live-streaming app that can receive cryptocurrencies. It's also a leading application in the audio content community.
With his long list of achievements, it's no surprise that he has received numerous accolades. Forbes Magazine listed him on their "30 under 30" list of businessmen in Asia. Justin was also personally selected by Jack Ma himself to study at Jack Ma Hupan University. With this university having an even lower acceptance rate than Ivy League colleges like Princeton, it's impressive.
Justin also took some time out to become a University of Pennsylvania graduate. Jack Ma, who co-founded Alibaba, hasn't spoken about the fact that many top devs are leaving the group to work at Tron. The relationship and potential partnership between the Tron project and Alibaba remain exciting, yet still unclear. Many expect future press releases on the matter.
Other mentors that Justin Sun has reached out to and now actively engages with include A-list names like Feng Li, advisor at Ripple and Coinbase, and Tim Berners-Lee, who single-handedly invented the World Wide Web that we all know and use every day.
Not only does the founder of Tron have a long list of mentors to turn to for guidance, but the Tron Foundation has also received a lot of support itself. Hacker Noon is one of the top outspoken supporters of the Tron platform, and that has given it a lot of credibilities as it continues to grow.
When people use Tron, they realize that they are finally giving credit where credit is due. In other words, they recognize that the Tron platform is going to reward and compensate the actual creators of the content they enjoy. Whether they are graphic artists or entertainers, the people who enjoy the content are encouraged to use the Tron platform with the knowledge that the artists are going to be appropriately credited for everything they produce. Tron is, of course, another step toward a decentralized internet.
Often, people refer to this new movement as the "third web" and Tron is at the forefront. It might sound far-off and very futuristic, but in reality, Web 3.0 is the next big step in innovation, and we're already on the cusp of it. With the next version of the internet, users are going to be able to finally achieve what those who invented the internet initially intended: an open and decentralized network.
It was the Dotcom bubble that initially shifted the World Wide Web away from its destiny as a decentralized network. With large social media platforms like Facebook soon building empires atop that altered structure and then rewriting things to help the giant enterprises of the tech world earn money for the data of their users, it took a long time for people to finally find the path back to the decentralized web original creators were looking to invent.
Now, it's companies like Tron that are attempting to return the control of user data to the users themselves. When people use Tron coins, they are redirecting the internet to its initial path. They are taking control over their data. They give themselves a choice when deciding what's monetized and what is disclosed.
Tron can be purchased through fiat trading or by trading other cryptocurrencies. Their use of smart contracts is what verifies these transactions.
When it comes down to developers and how they feel about the Tron platform, they like it too. You wouldn’t need to perform a technical analysis on it either to grasp its appeal. Tron might not be the largest cryptocurrency when it comes to market capitalization. Some of its features, however, differentiate itself from bigger digital currencies like Litecoin (LTC), Ethereum (ETH), and Bitcoin (BTC) / Bitcoin Cash (BCH).
That's because the Tron platform is being constructed so that dApp developers will be able to select their favorite high-level language and then use that language to build a smart contract. Tron helps in the process of app development and assisting developers to build out robust decentralized applications.
While that may not sound like a big deal to a non-developer, it is a big deal. The reason being is that it enables developers to essentially code with whatever language they want to use in the future, without having to learn a bunch of different coding rules to design the software they want to create.
Cryptocurrency investors love Tron. Even hardcore Bitcoin enthusiasts are hopping on the Tron train in further hopes for a cashless society. Some were skeptical when they launched the Tron mainnet in the summer of 2018 and price took a hit. However, later that summer, they launched the Tron virtual machine, which brought a lot of excitement to the community.
"Cryptopuppies" is the biggest thing to have ever been developed on the Tron platform. Tron played on the Chinese "year of the dog" following the initial release of cryptokitties, and it worked. A Tron dog now sells for about USD 18, and there are plenty of other successful products that are being sold on the network.
Like other cryptocurrencies, the transactions made on the Tron platform are shown on a public ledger. As far as infrastructure goes, the only real difference between buying through Tron and buying through Bitcoin is that Tron has improved the security of their platform with the UTXO model.
Tron had used the Ethereum blockchain technology as their infrastructure. On June 21st of 2018, however, Tron migrated from the Ethereum blockchain (ERC20) to their own public blockchain project. In October of 2018, Tron claimed to be 200x faster than Ethereum.
The price of Tron fluctuates, as do all digital assets. A brief price analysis: the cost of one TRX coin on the exchange sat at USD 0.018588 as of September 12, 2018. TRX volume is $24,414,998 and TRX market cap is $1,704,640,495. Tron saw its greatest price surge in January of 2018 when it was in high demand and market cap was up. To give reference to volume, BTC trading volume sat at
$80,142,836 as of October 9th, 2018, which is notably higher. Every crypto investor should do their due diligence when making investment decisions.
|Genesis Date||August 28, 2017 (6 months)|
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