Hey Jesstakers
I know many might not like TRON given the history it has had with the birth of HIVE, and many criticise it as an Ethereum copycat and a CCP funded shitcoin, that's built all on the hype of Justin Sun. All points, I can agree with, but facts and opinions hardly matter when it comes to financing these days.
I purchased TRON many years ago, I think we were all suckered into it back in 2017 because it was one of those "Cheap HOT altcoins" and when the market moved into bear phase, I didn't see the point in selling it for basically nothing.
A DE-FI let down
I did purchase TRON throughout the years to test out their DE-FI platforms that don't seem to be doing all that well. I mean if you're going to copy Uniswap, the best you can do is really compete.
I wouldn't say they even compete with the Uniswap clones on Eth like Sushiswap. I tried out platforms like JustSwap since TRON was far cheaper to use than ETH.
However, the volumes on these TRON based DEX's aren't exactly kicking off many fees, and since TRON doesn't have the unit price action ETH has, it doesn't really raise the price of the paired asset either.
Freezing TRON
What also attracted me to trying out TRON is the ability to FREEZE TRON for energy. When you freeze TRON, you lock it on-chain, and you secure energy that gets replenished each day. When you have the energy, you can transact with TRON smart contracts without paying the network fees, which is pretty awesome.
Another method of FREEZING Tron allows you access to Bandwidth; Bandwidth can be used for voting rights. If you lock your TRON up for Bandwidth, you can then vote on their super representatives.
Super Reps are what HIVE/STEEM call witnesses or EOS calls block producers. Once you freeze your TRON you should have bandwidth-based 1-1 on the TRON you froze.
You can then allocate the amount of TRON you want to use to vote on different Super Reps.
If you need a detailed tutorial on how to vote for super reps and earn rewards, check out this guide
Tron is not decentralised
Please make no mistake TRON is hardly a decentralised blockchain, its decentralised theatre as with most blockchains. If you even take a look at the Super Reps for a minute, you can see most of them are exchange accounts or sock puppet accounts.
Even if individuals were on the brink of breaking that monopoly TRON has had a history of using other tactics, like leveraging Genisis tokens to vote in their sock puppets.
I only mention this because I like people to know what they are getting themselves into when using this token and various on-chain services.
Benefits of voting on-chain
TRON has done an amazing job of getting itself integrated with various exchanges and wallets. You can even stake your TRON within exchanges or hot wallets like Atomic Wallet or stake via cold wallets like Ledger via Ledger LIVE.
The convenience and access factor of TRON is really a bonus for many who don't want to deal with on-chain stuff. It's pretty easy to stake, although you sacrifice a little yield since your coins are pooled with others to vote.
This means your provider skims off a few % points when staking your coins on your behalf.
Going direct and doing it on-chain can unlock greater returns for your token balance.
TRON has it's pros and cons
Like any project TRON has, it's benefits, and it's shortfalls, and you should be aware of all of them before you agree to use their service. I had old TRON, some I earned via STEEM and some I bought to try out their DE-FI apps, and when I lost interest, they were sitting around.
So I thought what the heck, might as well stake them and let those tokens kick off some additional cash flow without me having to do much with it.
Have your say
What do you good people of HIVE think?
So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."
Let's connect
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