What Is Tron?
Tron is a cryptocurrency created by a famous Chinese entrepreneur called Justin Sun. You can take a look at the whitepaper of Tron to find all the details about their project. It’s very thorough and explains their philosophy in a great detail.
The ICO (initial coin offering) of Tron was so popular that Binance crashed. Binance is one of the most popular cryptocurrency exchanges in the world. I’ll publish a review of it soon to tell you more about their services.
1.The Value of Tron Coin Became 33 Times Higher in 15 Days
The value of Tron really jumped to the sky in December 2017. 6th of December people were trading it for 0,2 cents (=$0,002). The value started rapidly rising and Tron hit its peak back then in 21st of December. The value of one Tron coin has become more than $0,67. That’s a pretty big jump, huh? I wish I would have been part of that lol!
2.Tron Is a “Real” Cryptocurrency
There are some so-called cryptocurrencies that are just scams, Ponzi schemes or something like that. Then there are real cryptocurrencies and projects that provide real value and try to improve the world. Some of the most famous crypto scams are BitConnnect and CoinSpace. Gladly, Tron isn’t one of them because it’s a real project by a strong team of developers.
Decentralization
There are two kinds of cryptocurrencies: Decentralized and centralized ones. The idea of decentralized cryptocurrencies is that nobody is running the show. Compare it, for example, to the current financial system. Big banks and governments are running the show are deciding what happens, how much money there is, etc. One of the first ideas of cryptocurrencies was that it wants to take the power away from the banking system that has too much power.
There are also cryptocurrencies that aren’t decentralized like Ripple for example. I think that Ripple project is great as it’s trying the improve the current system. It’s completely different than other centralized projects that were scams in the crypto world. Anyhow, Tron wants to be a completely decentralized cryptocurrency so a single institution isn’t running the show. Even though the goal is to be decentralized, somebody has to start the project and develop it.
Blockchain Technology
Transactions that are made with Tron coin are recorded to the blockchain ledger. Actually, based on my research Tron supports numerous blockchain networks including Ethereum, Bitcoin, EOS, and Qtum which are all some of the leaders in the cryptocurrency world.
This enhances Tron’s utility and liquidity. Also, Tron’s ability to cross-platform transactions gives it a good edge against many other coins.
Smart Contract Protocol
You are probably familiar with the word “Smart Contract” if you have read about Ethereum or NEO, for example. It easily enables users to access the features of the cryptocurrency. While Bitcoin provides an opportunity for a transaction of value, smart contract technology provides a possibility for transfer of value with specific requirements. I have read more about this in my other articles so I don’t go into details on this one.
TRON's leadership
TRON is helmed by CEO Justin Sun, an Ivy League grad, successful app founder, and former Ripple China representative. Sun has been lauded as one of the Forbes 30 under 30 Asia (Technology), and he also attended China's prestigious “Hupan College” entrepreneur training program.
TRON itself is technically a nonprofit foundation, headquartered in Singapore and tasked with supporting the development and propagation of TRON. To support itself, the foundation holds more than 34 billion TRX which as of this writing is worth about $4.7 billion and accounts for around half of TRX's total market cap, although those coins, Sun says, are locked up until at least 2020.
3.Tron Gives Credits for Creators
I am a full-time Internet marketer and I have used Google and YouTube ads for making money. Then I know people who have uploaded their games to Apple or Android Play Store. One thing when working with these platforms is that the creator of the platform takes a large sum of the money. Exact percentages may wary but the conclusion is that a large number of earnings goes to someone else’s than to creators’ pocket.
The goal of Tron is trying to build a platform/technology that gives rewards and credit directly to creators. Actually, Tron is trying to build something else than just a platform. It tries to build a whole “Internet” where creators can get rewards for their work.
Conclusion – Is Tron a Good Investment?
I have mixed feelings about this coin but i think that Tron has a good potential. I can’t guarantee the growth but I’m pretty convinced that the price will grow at least in the short- and mid-term compared to fiat currencies.