TRON has seen significant growth since its inception, becoming one of the top cryptocurrencies available today. Thanks to its engaging and innovative founder, effective marketing strategies, and competent technical team, it has quickly risen to the top of the industry. The broad vision and expert leadership team have positioned TRON for major growth in the coming months and years.
The development team of TRON includes highly competent entrepreneurs from China and second mover technologists who have a long history of being successful at what they do. After observing the workings of other pioneer blockchains in China, such as NEO, they have created their own rival system which they envision to be a better alternative once the Tron team executes its plan. Nonetheless, TRON’s aim goes far beyond simply being a better alternative, they are committed to creating a revolutionary change across the globe by decentralizing the web. By maintaining a broad vision and a long-term strategy, market fluctuations should not adversely impact the overall success of the project.
TRON’s Market Comparison
Bitcoin is the highest ranked digital currency with a current market capitalization of roughly $120 billion at the time of this publication. Bitcoin is now trading at $7000 after experiencing a sharp rally that took it from $6200 to $8400 within the last 2 weeks. This appreciation was due to speculation that a bitcoin ETF will soon get approved by the SEC. Within the last week, several bitcoin ETF proposals were dismissed by the SEC, including the Winklevoss twins’ bitcoin ETF. This has led to the rapid evaporation of bitcoin wealth we have seen in the last few days. Is this something to worry about? In my opinion, the answer is a definite no. If you do some research, you’ll see that most crypto experts expected the Winklevoss ETF to get dismissed. Rather, the thing that most crypto-gurus are monitoring with excitement is the bitcoin ETF filing by the CBOE, or Chicago Board Options Exchange. Now that is the game changer that will bring significant institutional money into the crypto space.
”Rather, the thing that crypto-gurus are monitoring with excitement is the bitcoin ETF filing by the CBOE
Ethereum, the other mainstream darling of most crypto enthusiasts, boasts a market capitalization of roughly $41 billion. Ethereum, as with most other cryptos, has capitulated to the downward pressure from bitcoin. It started the week at close to $470 and is now sitting at slightly above $400. Unlike bitcoin, which is mostly used as a store of value, Ethereum serves as a smart contract engine similar to Tron. Bitcoin and Ethereum both function using a Proof-of-Work algorithm where everyone can set up a mining rig and support the network.
TRON, the new blockchain on the block, has asserted itself as the tenth largest crypto based on a market capitalization of slightly above $1.8 billion. Tron has also seen the same wealth depleting fate as the rest of the crypto market. In just the last week, it has gone from $0.037 to $0.028. Please keep in mind that cryptocurrencies are volatile assets which go up and down in large spurts. What is important is the long term prospect of the project. Tron, like Ethereum, serves as a smart contract engine. In fact, Tron used to be an ERC20 token prior to it claiming its independence from Ethereum. They are now their own blockchain using a delegated proof-of-stake algorithm. As a result, the Tron network can currently handle over 1,000 transactions per second as opposed to Ethereum’s 25 transactions per second. In order to attain such numbers, Tron has Super Representative elections, where one TRX equates to 1 vote to decide the 27 entities that will maintain the network.
Uses of TRON in the Market
TRON is setting itself apart via the varied possible usecases that it represents. Just recently, Tron has acquired Bittorrent, the peer-to-peer file sharing software company. Bittorrent currently has over 100 million active users across the globe. Tron is expected to financially incentivize users to seed, which is something Bittorrent was missing. Other possible usecases for Tron can be any of the following:
When somebody swipes you right on Tinder, you get some TRX scores. In this way, aside from the adoration, you can collect some TRX tokens.
TRON has seen a positive response from the web-based gaming industry. TRON/TRX plans to reorganize the gaming industry, where the gamer could purchase/offer gaming certifications in their own specific manner. Would you like to buy my Call of Duty fluffy rabbit slippers? Only 10 of these exist! Let’s see what comes out of the Bitguild partnership. Very exciting times for the gaming industry!
Here, TRON/TRX is supporting two apps, TWO (Dating App) and Peiwo (the largest voice live streaming app in China). While right now, both applications have a significantly Chinese client base, we may see it coming out of Asia soon.
Facebook statuses can be counterfeited and tweets can be duplicated and utilized. Many of the songs we stream, eBooks we read, or movies we download, are funneled through a third party before they get to the consumer. As a result of this third-party system, innovative creators earn less and users consume low-quality content.
TRON’s vision to decentralize the internet is central to its mission, where creators have the ability to share their intellectual property with users using blockchain innovation, which have the added benefit of being secure. In this way, fabrication and distribution without the proprietor’s consent would be near impossible.
Through its impressive leadership, unique technology, and widespread applications, it’s no wonder TRON has seen steady market growth. This company, ranked 10th among all cryptocurrencies, continues to grow and innovate, making its digital ecosystem more and more appealing as the project unfolds. Looking at all these factors, you should now have a better idea of what differentiates Tron from its peers.