- Tron has the simple goal of giving more power and benefits to the creators of online content.
- This is being done by reducing the control that the likes of Google have on content creators.
- While Tron is a promising investment opportunity, it is facing significant competition from Ethereum, Cardano and Polkadot.
A brief introduction to Tron
Tron has the simple goal of giving more power and benefits to the creators of online content. Instead of these people receiving a share of their money from corporates such as Facebook and Google, Tron offers a way for them to receive the entire value of their content without a centralized authority. This is taking the control from the likes of Google and giving it to the content creators.
It is a decentralized operating systems whose goal is to establish a free world-wide digital content entertainment protocol. Tron was created in 2017 by Justin Sun. The system is entirely based on the blockchain technology. By using a distributed storage tech, Tron makes it both cheap and easy to share digital content. A non-profitable organization known as the Tron Foundation supervises Tron’s activities from Singapore.
Tron is made up of 3 interconnected but independent entities;
- The Tron Network supports both NFTS and DAPPs. The network is also responsible for all the financial transactions.
- Previously known as Tronix, TRX is the cryptocurrency that supports the Tron Network.
- The Tron Foundation is responsible for the growth and maintenance of both TRX and the Tron Network.
Why Tron could be a great investment opportunity
- With 2.4 billion transactions and over 55 million accounts opened in the network, Tron is growing by the day.
- Tron is still affordable. One TRX is currently going for Kes. 9,69.
- The network is both cheap and fast. With increase in TPS, the transaction cost in the Tron network can go as low as $0. An estimated 2.24M transactions were made on the Tron network in the last 24hrs.
- Partnerships from companies such as Opera Web, Samsung, and CoinPayments have added more credibility to Tron.
- A significant share of stablecoins are transacted through the Tron Network. While a sizable amount of USDT has been circulating via the Tron Network, USDC has also been recently added into the network.
- All factors considered, a lot of experts expect Tron to be worth an estimated $0.5 in the next 2 years. This would be a 500% growth.
Challenges facing the growth of Tron;
- Tron is facing a major competition from Ethereum, Cardano, EOS, and Polkadot to mention a few.
- Tron is still affected by Bitcoin’s fluctuations.
Conclusively, for anyone who is considering to make a long-term investment in the cryptocurrency space, adding Tron to the research list is considerably a wise idea.
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