TRON Is An Ambitious Project Dedicated To The Establishment Of A Truly

What Is TRON (TRX)?

TRX or Tronix is a cryptocurrency running on the TRON blockchain. Its goal is to create a decentralized Internet.

TRON is a blockchain-based operating system that aims to ensure this technology is suitable for daily use. Whereas Bitcoin can handle up to six transactions per second, and Ethereum up to 25, TRON claims that its network has capacity for 2,000 TPS.

To learn more about this project, check out our deep dive of Tron.

This project is best described as a decentralized platform focused on content sharing and entertainment — and to this end, one of its biggest acquisitions was the file sharing service BitTorrent back in 2018.

Overall, TRON has divided its goals into six phases. These include delivering simple distributed file sharing, driving content creation through financial rewards, allowing content creators to launch their own personal tokens and decentralizing the gaming industry.

TRON is also one of the most popular blockchains for building DApps.

Tron And The Ethereum Blockchain

The Tron network structure has been compared to that of the Ethereum platform, and it uses some of the same basic building blocks, such as decentralized applications (dApps), smart contracts, and tokens. In fact, it has been criticized for perhaps “going too far” by borrowing rather than building the basics of its platform.

There are signs that Tronix and Ethereum are becoming competitors for the business of cryptocurrency traders. The supply of USD Coin, a cryptocurrency tied to the U.S. Dollar, circulating on Tron surpassed $108 million less than a month after support for it launched.

That “could be another sign that crypto traders are increasingly turning to blockchains that provide cheaper transaction fees with faster speed than what’s found on Ethereum,” Coindesk reported in July 2021.

As of Aug. 5, 2021, TRX ranked 31st among cryptocurrencies in market capitalization, according to CoinRanking.com. Its price was $0.0705, giving it a market capitalization of $4.66 billion. Its all-time high on that date was $0.2180.

Why Buy TRX?


Not only has Tron attracted a global investor base with its vision of decentralizing the internet, the project has become known for its big spending to acquire or partner with new services.

This includes well-known products such as BitTorrent, which now has its own Tron-based token, and partnerships with online merchants, which has integrated Tron wallets. 


Consider Buying TRX If You Want To

  • Develop an application powered by its own cryptocurrency
  • Create a long-term crypto portfolio strategy
  • Play Tron-based games or use Tron-based applications
  • Raise money to start a new cryptocurrency project 
  • Stake TRX to begin earning more cryptocurrency

Where Can You Buy TRON (TRX)?

It is possible to buy Tron from dozens of the exchanges it is listed on – including Poloniex, Bancor, KuCoin, Binance, Bitfinex, Coinbene and others. However, it is not supported by Coinbase.

TRX And The TRON Protocol!

As stated in the whitepaper, Tron’s goal is to create a worldwide free content entertainment ecosystem. They plan to accomplish this by cutting out the giant corporate “middle men” and putting all the profit earning potential back into the content creator’s hands. This means that when a user of the TRON protocol creates content, let’s say for example, a video, they can upload it directly to the TRON blockchain and get paid directly for how viral their video gets. Each upvote, like, clap, view that their video gets, they will receive direct compensation for, without the need of large companies like Youtube cutting into creator profits. The worldwide community on the TRON protocol will decide what it deems worthy of success, without the problem of censorship or corporate control looming over the heads of creators.

It is important to note, becoming the solution to the problem above is not TRON’s only goal.

Solving the problem of centralized entertainment content may be a “Micro” goal for TRON, but the “Macro” goal is much greater. TRON’s “Macro” goal is to completely reshape how we as a global society interact via the Internet and blockchain as a whole on a truly decentralized platform ecosystem.

One way to view TRX is to view it as the “exchange” currency on the TRON protocol blockchain.

There will be many companies built on the TRON blockchain that will use their own individual company cryptocoins, but TRX will be intertwined as the mediator between all of them.

Take for example:

This is you.

Let’s say you just so happen to use a Bike Sharing application on your phone that is partnered with TRON and built on the TRON blockchain.

You would have the potential to gain “rewards” correlated to the bike rental time and total distance you rode, in the form of tokens received from the Bike Sharing Application company. You could then use these tokens you earned from the Bike Sharing company, and use them to buy a cup of your favorite coffee, who’s company is built on the TRON network as well OR maybe even spend the tokens on finally buying that virtual dog that’s been giving you the puppy eyes! You would not have to do any of the dirty work of manually swapping your bike tokens for coffee tokens, it would all be done automatically within the TRON protocol with TRX in the middle of it all.

Understanding Tron

Tron uses the features of the blockchain and peer-to-peer (P2P) network technology to eliminate the middleman and allow content creators to sell their work directly to consumers. Software developers use the Solidity programming language to create apps that are hosted on the Tron platform.2

The currency used on the network is Tronix, or TRX. Users of the network use TRX to directly pay the content creators to access their applications. Content creators do not pay a transaction fee to Tron. (TRX transactions also are free on the platform.)

Users can store their crypto-assets in a desktop, mobile, or hardware wallet.

How Many TRON (TRX) Coins Are There In Circulation?

TRON has a total supply of just over 100 billion tokens — and at the time of writing, about 71.6 billion of these are in circulation.

When a token sale was held in 2017, 15.75 billion TRX was allocated to private investors, while an additional 40 billion were earmarked for initial coin offering participants. The Tron Foundation was given 34 billion, and a company owned by Justin Sun got 10 billion.

All in all, this meant that 45% of TRX supply went to the founder and the project itself, while 55% was distributed among investors. Critics argue that this is a much higher ratio than what has been seen with other cryptocurrency projects

How Is The TRON Network Secured?

TRON uses a consensus mechanism that is known as delegated proof-of-stake.

TRX owners can freeze their cryptocurrency in order to get Tron Power, which means that they can vote for “super representatives” who serve as block producers.

These block producers receive TRX rewards in exchange for verifying transactions, and these rewards are then distributed among the people who voted for them.

According to TRON, this approach helps its blockchain to achieve higher levels of throughput.

What Moved The Price Of TRON In 2021 And Before?

Tron’s trend is going up and has stopped going down, and is now into its third year of existence, but it really started gaining traction in 2020 with a number of interesting occurrences influencing its price. The project is looking to make a big impact across the content space and as such, it is looking to impact the traditional space, as well as move the emerging one. 

One of the biggest announcements it made over the last several years was the acquisition of popular torrenting site, BitTorrent. This acquisition saw TRON take a big lead in the company’s future plans. This acquisition took place in 2018, but it really put TRON on the map as a real player and helped grow the Tron future. 

The price of TRX also reacted to this major tech acquisition, but as is a common theme with TRON it appears, the rumour of good news around the project has a bigger impact on the price of TRX. a few months before the acquisition became official, but during the rumours, the price of TRX reached its second-highest point, just less than it’s all time high at the beginning of 2018. The highest TRX has ever been was $0.22 but the news of the BitTorrent acquisition sent it up to $0.09 having dropped to $0.02 previously.

Other impacts that have often moved the price of TRON have mainly featured around good partnerships, or good businesses moves to expand TRON’s reach, but they have also heavily focused around the PR that comes from Justin Sun. 

The enigmatic head of the company has been known to hype up announcements and many traders keep an eye on his Twitter about big TRON news that is coming to the company and this is usually enough to send the price of TRX climbing on a rumour alone. 

A good example of this came when Sun, looking for additional publicity for himself and TRON from the cryptocurrency community, paid millions of dollars to Warren Buffet’s charity to have lunch with the famous hedge fund manager to try and turn him onto crypto. 

This news again sent the price of TRX up as Sun and TRON looked to have a bigger impact in the overall crypto space, but also looked to make their name known on the traditional scene. This lunch had its own controversies, but because TRON has such a vibrant following, it was still mostly accepted and agreed with as the lunch was postponed, and then eventually happened. 

But, one of the bigger partnerships that TRON has made in 2019 must be the link they have made with Samsung and its blockchain KeyStore. Again, Sun made hints on his Twitter that TRON had made another partnership, with a multimillion-dollar company and the excitement grew and TRX price grew with it. When it was announced that TRON was accepted on Samsung’s blockchain KeyStore, it further legitimized TRON in the crypto space, as well as the mainstream nascent adoption of blockchain.

TRX has benefitted well from all of these partnerships, and it has become clear that the biggest influence on the price of the token comes from good news surrounding what the company is doing to fulfill its lofty goals, and these announcements are made all the more exciting through Justin Sun. 

2020 was also a big year for Tron, as the Tron Foundation continued to make strides on the platform. Tron had its own crypto Twitter emoji, and launched various DeFi projects to compete with Ethereum. Price action began to pick up again in 2020 and into 2021 currently.

In 2021, Tron made an attempt to set a new all-time high but fell short. It is now holding at support and at a critical junction. It is back trading at around $0.09 after rejection at around $0.17.

High throughput is achieved by improving the TPS in TRON, which has surpassed Bitcoin and Ethereum, to a daily-use practical degree.

Applications are given a wider variety of ways to be deployed in TRON because of its scalability and highly effective smart contract. It can support enormous numbers of users.

More reliable network structure, user asset, intrinsic value and a higher degree of decentralization consensus come with an improved rewards distribution mechanism.

 

TRON Price Predictions By Crypto Experts

Of course, with a lot of interest and hype being built around the TRON trend and its TRX token, a number of prominent commentators, as well as well respected crypto news and market outlets have taken their hand at guessing where the next moves will come for the token.

The bottom line is Tron (TRX) price prediction would be hard to say it has an estimated TRON growth for 2021 and beyond. The company is a clear visionary in the field but it has suffered some setbacks and strayed a bit from its founding vision and purpose. The latest TRX price prediction 2021 calls for the cryptocurrency to show minimal gains until the brains behind the organization give a new and exciting reason to buy some TRX tokens.

Wallet Investor

Wallet Investor calls for a five-year forecast of only $0.35, which is roughly double the 2021 high.

The Economy Forecast Agency

The Economy Forecast Agency has a strange take for Tron specifically, with the cryptocurrency reaching a high of 44 cents in 2023, then falling into a bear market. The timing is different than nearly all other analysts, who are targeting new highs this year.

CoinPedia

CoinPedia’s high end estimates reach upwards of $0.34 per TRX.

TRON Focuses On Web3 Decentralisation

The decentralised TRON platform focuses on file sharing and entertainment content. The TRON blockchain launched in June 2018. In July of that year it integrated with peer-to-peer file sharing network BitTorrent.

BitTorrent, founded by Bram Cohen, was sold to Tron in 2018. Sun is now the CEO of BitTorrent.

BitTorrent launched its own native cryptocurrency, BTT, in February 2019 on the TRON blockchain, using its TRC-10 standard.

TRON uses three-layer architecture: a storage layer, core layer and application layer. There are several modules in the TRON core layer, including smart contracts, account management and consensus, according to the company’s whitepaper, which offers TRON potential for growth. 

TRON runs on a Delegated Proof-of-Stake (DPoS) consensus in which 27 super representatives (SRs) produce blocks on the chain. Every six hours, TRX account holders can freeze their accounts and vote for SRs. The protocol generates a new block every three seconds, and each block awards 32 TRX to SRs. This process allows for faster throughput than some other blockchains.

According to its latest weekly update on 28 February, there were more than 77.3 million accounts on the network and the total number of transactions reached 2.87 billion. Total value locked (TVL) on the blockchain reached $9bn.

The TRON Foundation, which was taking the lead in developing the project, was dissolved in July 2021.

Blockchain networks form a core of the emerging decentralised third-generation internet (Web3). As part of that transition, the TRON blockchain has made the shift to a decentralised autonomous organisation (DAO) model.  TRON became a fully decentralised network with a community-governed DAO in December 2021.

“TRON DAO is what distinguishes TRON from web2.0 tech companies as it fully demonstrates decentralisation, the essence of blockchain,” TRON said in an announcement.

TRON Mining

TRON is an ambitious project that was launched in 2017 and it is a decentralised peer-to-peer network that caters specifically for the needs of the entertainment industry. TRON uses a Delegated Proof-of-Stake (DPoS) which makes it impossible to mine TRX in the same way that Bitcoin, for instance, is mined as it uses a Proof-of-Work consensus mechanism.

PoS enables holders of TRX to stake coins in exchange for various rewards. Users place a certain amount of their crypto on their wallet for a certain time, locking them in place and making it impossible to withdraw, trade, or transfer these tokens.

When staking TRX, the user’s computer becomes a node and the more TRX they have in their wallet, and the longer the staking period is, the more likely the user is to be chosen to validate blocks and subsequently receive the reward.

The validator selection process is based on a variety of factors such as the wealth and age of the node in addition to being a semi-random process. Where the TRON ecosystem is concerned, only 27 users can stake tokens.

These users are known as super representatives and they are chosen by the overall TRON community. Super partners is another concept which involves the next 100 users who are in the queue for validator positions. They receive rewards according to their voting rate of 1.152.00 TRX in total, with the list of super partners updated every six hours.

Super representatives are responsible for the generation of blocks and to package transactions for the entire TRON network. They have the right to participate in decision making as well as voting on parameters proposals on TRON.

In the TRON blockchain, with a new block being generated every three seconds, their block reward quals to 16 TRX per block. The TRON community, consisting of common TRX holders, vote for candidates by staking their TRX for their favourites, delegating them with the duty of creating new blocks.

 

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