Edited by CryptoClarified
In the last few days, there has been a lot of good news surrounding Tron (TRX). From its listing on Bittrex and Lbank exchange, to the much awaited main net launch, there is no doubt that Tron is a coin on the move. But this hype should not be the primary reason why you put your money in this coin.
TRON LISTED ON BITFINEX
Nothing will boost the price of an altcoin better than a listing on a major exchange. They don’t come much bigger than Bittrex which announced the listing of Tron (TRX) about 12 hours ago.
THE DRAGON SEES THROUGH THE FUD
Despite multiple baseless smear campaigns, consistent progress and high-profile partnerships have kept the public engaged.
MAINNET RELEASE AHEAD OF SCHEDULE?
Justin Sun, Tron’s CEO and the public face of the cryptocurrency announced an acceleration of their main net release. We have heard from several sources that also claim that the mainnet release is ahead of schedule, although we cannot verify the accuracy of these statements.
The launch of a functional main net will allow Tron to begin porting their TRX token over from the ERC-20 Ethereum standard. Fully breaking away from the Ethereum blockchain will grant Tron several advantages. Chief among them is rapid transactions and low fees – two things that are currently burdening Ethereum.
Main Net Acceleration
A more detailed explanation of the main net advancement is expected soon. Meanwhile, several inferences can be made from previous quotes. First, the test net launch will continue on schedule; beginning March 31st. However, the first release of the full main net platform will start on May 31st, over a month earlier than they had originally anticipated. This is a major win for the cryptocurrency. Once the main net stabilizes, they will be free of the ERC-20 blockchain. From there, they can prove what Tron is truly capable of.
Sun has remarked that their blockchain will be capable of 1,000 transactions per second – more than almost all of their competition. Only Ripple is faster among the top cryptocurrencies. Further, their fees will drop to a negligible fraction of a cent – making transactions on the blockchain effectively free. These two factors combine to make Tron an incredibly attractive location for the creation of decentralized media and applications. Dapps are extremely reliant on a free flow of data within a blockchain, and making that system free of any friction is paramount. Many of Tron’s announced partners intend to use the platform for just these reasons.
As the cryptocurrency craze continues, with Bitcoin leading the way, a slew of smaller, cheaper projects are emerging that investors are getting excited about. One is Tron, a coin that its Chinese founder hopes will challenge the world’s major content providers, such as Facebook and YouTube.
The Upcoming Exodus
Both the test net and main net launches are part of the proposed ‘Exodus’ phase of Tron’s roadmap. The first of six phases, Exodus is arguably the most critical component of the entire process. Before Exodus, Tron has no proof of concept technology to showcase. Their ambitious roadmap and all-star team go a long way towards making up for that, and it shows in their market cap. When they have publicly released software and the ability for early adopters to start development, we may very well see that market cap explode.
Their second phase, ‘Odyssey’, will pivot the focus from initial development to early adoption. It’s hard to believe that they could increase the pace of partnerships, given Justin Sun’s near-constant acquisitions. Yet, that’s exactly what they intend to do – and that ultimately depends on the success of the Exodus phase. Once they have a fully functioning product, pulling in more content creators should be easy, comparatively.
According to its website, Tron (TRX) is a blockchain-based platform that seeks to decentralize the internet, or rather content-sharing on the internet, ensuring that artists, creatives, musicians, authoring can release their content without having to use a middle company, be it Amazon, YouTube, Apple, or Facebook.
So let’s take a look at this coin from a fundamental point of view.
- What value does it add?
- Can it sustain in the increasingly competitive crypto space?
The good news is that from a fundamental point of view, Tron (TRX) is an exceptional coin. It has a use case potential that is could many of the issues affecting the digital economy.
Let’s go through some of them.
TRON USE CASES
#1 The never-ending issue of Net neutrality
If you are into tech news, then you know that a few months ago; the issue of net neutrality was the big news. The FCC passed a resolution that it would be killing net neutrality. The Democrats in the U.S have fought it hard, with Washington State recently passing a regulation protecting it. However, this issue cannot be resolved through politics, the solution is in a technology that eliminates the debate altogether, by creating a fully decentralized web space. That technology is here with us, and it’s Tron.
Tron intends to create a democratized web space, where content creators are fully in control over their content. There is absolutely no reason why corporate behemoths get to control content, yet they don’t play a part in creating it. This element of Tron’s core mission is guaranteed to usher in Web 4.0, where everyone has a stake in the web economy. This will eliminate the power of a few corporations, or government bureaucrats, from deciding what content gets priority in the digital highway.
#2 The Advertising industry
Over the last few years, internet users have become increasingly aggressive against adverts that run in-between content. This is a headache for media companies and internet giants as well. That’s because they are in a dilemma on how to make money from advertising without interrupting content. It’s a tough balancing act between trying to give quality content while at the same time turning a profit.
Tron (TRX) seems to have a solution to this. The solution is simple, monetize the comments section of web content! Most people read through the comments sections after watching videos online. What if someone could pay for their advertising content to be the top comment? That would allow views to see the advert without antagonizing them with annoying adverts in between the videos they want to watch, right? Tron has the potential to achieve this. That’s because It has very low transaction costs, is superfast, and allows for micro payments, that would be needed to pay for adverts in the comments section. That’s revolutionary and could easily see Tron (TRX) become the default tool for web advertising.
#3 The music industry
The music industry has seen declining revenues in the last decade, due to the rise of streaming services. I remember some time back when Taylor Swift had a public spat with music streaming services. If an artist at the level of Taylor Swift is feeling the hit of music streaming, how much more are lesser known artists suffering? The problem is not that there is no money in music, it is that most of it is flowing into the hands of corporations. Tron (TRX) is changing this by giving artists the chance to take control over their content and monetize it. This is guaranteed to change the dynamics of the music industry for good.
#4 A New Platform for Decentralized Gaming
We’ve already seen the rollout of several cryptocurrency based games – including Ethereum’s CryptoKitties and Tron’s own TRX Dogs. Both games have gathered a large user base, despite their relatively primitive features. Once the Tron main net goes live, we’ll see a true renaissance in blockchain based gaming. Where mobile gaming is currently one of the fastest growing aspects of the industry, decentralized applications offer an entirely new avenue.
Mobile games are at the forefront of the micro-transaction economy, but the possibilities are endless inside of the TRX blockchain. Fiat currency powers the mobile market, and money spent in one game is effectively taken out of the system. Decentralized gaming can unify virtual currencies – allowing the transfer of TRX from one gaming app to another. This opens up the possibility of earning currency in one game, only to spend it in another – monetizing the user’s play and driving them to invest more time. When players feel they are gaining real rewards, they are more likely to stay engaged.
Scalability and the Rise of Tron
Investors have seen what cryptocurrency gaming is capable of – but they’ve also seen the drawbacks. Long transaction times and high fees have made some of the earliest games decreasingly feasible. The smart developers haven’t seen this as a sign of decentralized gaming not being viable – they are just waiting for the proper platform to exist. Tron’s expressed abilities are exactly what they’ve been waiting for, and the completion of the Exodus phase will prove that to those waiting in the wings.
People are expecting great things from the Tron blockchain, and Justin Sun is eager to deliver. In the past two weeks, we’ve seen a 10% increase in the price per unit of the TRX token – and that’s just based on announcements alone. The release of the test net will give everyone a taste of what Tron can do. It will also give investors the chance to be an early adopter – before the main net rolls out, and the price point of entry rises significantly to match.
This all sounds great, but will they be able to pull it all off? The potential upside is enormous, but only time will tell.
Clearly, Tron (TRX) is a coin that could truly usher in web 4.0, and change how we interact with content on the digital economy for good.
Our Featured Contributor and Top 10 Trader @AltcoinAdvisory has reissued TRX as buy with a price target of .34 in the short term. Fellow top trader @cryptochoe is also very bullish on Tron.
With Tron now trading at just .05 it looks quite attractive. But in cryptocurrency, as we all know anything can happen.
SO WHAT IS TRON (TRX)
The digital currency was created by 26-year-old Justin Sun, a self-proclaimed protegé of Alibaba chief executive and billionaire Jack Ma. He has amassed 350,000 Twitter followers, promoting the coin to both its loyal followers and investors, as well as to the wider cryptocurrency community. Forbes listed him in its 30 under 30 for Asia in 2015 and he previously worked for another fledgling cryptocurrency, Ripple (XRP).
The former University of Pennsylvania student is one of the most vocal crypto-founders on the platform, from hosting a one-hour livestream about the coin to announcing partnerships to announcements of a new San Francisco office to promoting a vote for the coin to be accepted by new digital exchanges. He has even engaged in a back-and-forth with the famous founder of Litecoin, one of the top four cryptocurrencies, Charlie Lee, on Twitter.
THE TRON FOUNDATION
The currency to be used on the platform is known as “Tronix.” According to Sun, the cryptocurrency is already set to have a user base of at least 10 million, with Sun announcing that the Tron network will be implemented for his own Chinese social networking app Peiwo.
The coin has so far struck partnerships with a series of major companies, including Chinese video hardware and software provider Baofeng (which Sun dubbed the “netflix of China”), oBike, the largest bike-sharing company in Singapore, which will release “oCoins” on the Tron platform, with riders accumulating coins the more they ride. It also boasts investors such as Wei Dai, the founder of bike sharing company ofo, and a team of developers from Alibaba and Microsoft.
Sun has floated that it has a partnership in the works with a space exploration company, and rumors abound online about a partnership with Alibaba, although these remain unfounded.
It is mostly bought with Bitcoin or Ethereum, the number one and two cryptocurrencies, on the Tokyo-based exchange Binance, and at the time of writing had a market cap of almost $6 billion, despite its low price. The coin began life in September, trading at just a tenth of a penny. Earlier this month, it had soared past the 30 cent mark, before dropping back to as low as 4 cents, because of a wider market crash founded on fears that South Korea would ban cryptocurrency.
That country is a major market for digital coins, and the country has signaled that it will not ban cryptocurrencies, but more stringently regulate them to stop market manipulation and fraud.
The coin’s price is rising again, now valued at 8.4 cents at the time of writing, without a single real-case user of the coin at present. Cryptocurrency critics and advocates of Tron are divided on the potential of the project. Hype, potential, fears and doubt all shape the market price of a cryptocurrency, as does the market supply, and Tron is no different.
Detractors of Tron say that the coin has a circulation of 65 billion coins, too much for it to have any significant monetary value. By contrast, Ripple has a circulation of 38 billion and recently surged past the $3 dollar mark. They also say that Tron is just an idea that is yet to be implemented, so no one can truly tell if it will be a success.
They have also pointed to the project’s “whitepaper” as one that bears hallmarks of other projects. But Sun has used his social media presence to add a sheen of transparency to the coin, challenging the claims of copying other projects and dampening the “FUD” (fear, uncertainty and doubt) around this coin.
There are day-traders who are trying to make money from cryptocurrency, buying low and selling high, but there are others who believe in the technology they are buying into.
Supporters of Tron on social media point to the plans of Sun, as well as his leadership of the coin, his Chinese connections and its position in the top 15 cryptocurrencies, as a sign of the potential that the coin and the Tron platform could have for the internet, be it for gaming, mobile apps or online marketplaces. For example, on January 22, Tron Puppies will be released by game.com, where users can use Tron coins to play the game, Sun tweeted.
Whether Tron can shake up the Internet as Sun hopes remains to be seen. But what this coin has, like many others, is ambition to challenge the financial system and change the online space as we know it.
So cryptocurrency observers will be keeping an eye on Sun and his bid to surpass the Bezos’ and the Zuckerberg’s of the world, and investors will hope that the project that shares its name with the futuristic movie takes them to the stars.
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