- 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 control from the likes of Google and giving it to the content creators.
It is a decentralized operating system whose goal is to establish a free worldwide digital content entertainment protocol. Tron was created in 2017 by Justin Sun. The system is entirely based on 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 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 the 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 is transacted through the Tron Network. While a sizable amount of USDT has been circulating via the Tron Network, USDC has also been recently added to 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 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 making a long-term investment in the cryptocurrency space, adding Tron to the research list is considered a wise idea.
What is your opinion about the future of Tron as an investment opportunity? join the Bits.Africa community to share your views and learn what other traders think about various cryptos’ directional bias.