A month ago, almost nobody knew about TRON (TRX). After all, it was the hour when all eyes were pointed at Bitcoin. But the day of this altcoin seems to have arrived. On December 5, the TRX share price was $ 0.00215. As of this morning, it is trading at $ 0.276378. This is a surprising jump of 12755% in the value of the virtual currency, a growth that eclipses the news published by Litecoin and Ripple.
In addition, TRON's market capitalization grew six-fold, from $ 2.8 billion on January 1 to $ 18.7 billion today. The altcoin of just four months old is now the sixth most valuable cryptographic currency, but one of only three that start in the green this morning along with Bitcoin and Ethereum. Ironically, TRON's initial money supply (ICO) actually got off to a hard start since it coincided with China's crackdown on the crypto-coins in September 2017.
So, what is TRON?
It is a Blockchain protocol that aims to build a worldwide free content entertainment system. The protocol allows each user to freely publish, store and possess data, and in the decentralized autonomous form, decides the distribution, signing and sending of contents. It also allows content creators, releasing, circulating and dealing with digital resources, thus forming a decentralized ecosystem of content entertainment. Content providers, therefore, no longer have to pay high channel fees for centralized platforms such as Google Play and Apple's AppA Store. And its official currency is TRONIX (TRX).
This newcomer virtual currency has lots to do. The man behind TRON is Justin Sun, founder and CEO of Peiwo - The largest live voice application in China. He not only brings to the table his experience as Chief Representative of Ripple in Greater China but is also widely considered a protégé of Jack Ma, founder of Alibaba Group Holdings Inc. Sun was one of the first students to attend Jack Ma Hupan University for entrepreneurs - personally invited to this In fact, many of the TRON team were brought to Alibaba.
TRON is also betting on partnerships. Even if we overturn old rumors about a partnership with Alibaba, the Sun is already tied to the likes of Game.com, a leading online gaming platform and Singapore-based bike sharing operator oBike. Then, on January 2, he mentioned the prospect of several partnerships next year. "Even the NASDAQ-listed companies and the gigantic companies with 100 million users started contacting us. We will be huge soon, "he said. Just 20 hours ago came another tweet: "We are going to announce our partnership with a prestigious prestigious public company next week. We are waiting for this! "
So there is a demand for TRON, but before Cryptomaniac enthusiasts come up to board this new train, keep in mind that the Finance Ministry has recently announced that virtual currencies are not legal in the country. He also made it clear that the government or any other regulator in India has not given permission to any agency to work as a broker. "Consumers need to be alert and extremely cautious to avoid getting stuck in such Ponzi schemes," read the statement from the ministry, adding that virtual coins are stored in digital / electronic format, making them vulnerable to hackers, lost password , malware attacks that can also result in permanent loss of money.
