TRON

#11
Price: $0.0217986246
Change(24h):
+ 11.8%
Volume(24h): $123,286,485
Market Cap: $1,433,218,405
Tronix (TRX) is the native token of TRON, a decentralized blockchain protocol, initially based on Ethereum, but now with its own mainnet. TRON aims to build a global free content entertainment network allowing for each user to publish, store and own data. A subscription-based business model is set to reward the most prominent content creators. The Chinese startup supports smart contracts and various blockchain projects. TRX raised over USD 70 million in an ICO in September 2017. Total TRX supply is capped at 100 billion coins.

Minable: No

Coin Prefix: TRX

Type: Token

Websites:

Latest Hight: $0.00

TRON Markets

# Source: Pair: Price:
1
OKEx
TRX/BTC
$0.037657024
2
Binance
TRX/BTC
$0.0361907328
3
OKEx
TRX/USDT
$0.037338756
4
Binance
TRX/USDT
$0.0359736832
5
Bithumb
TRX/KRW
$0.0393506850151039
6
OKEx
TRX/ETH
$0.03766111338
7
Binance
TRX/ETH
$0.03618838532
8
Huobi
TRX/USDT
$0.03738793877
9
Huobi
TRX/BTC
$0.037945616768
10
Bittrex
TRX/BTC
$0.0380569216

 

Tron - a Controversial Crypto Project Aiming to "Decentralize the Web"

 

• Area to disrupt: Smart contract application, Building dapps, Scalability

• Competition: Ethereum, Cardano, EOS, NEO

• Founded by: Justin Sun

• Based in: Singapore

• Total supply: 100,000,000,000 TRX

TRON official logo

 

Tron (TRX) Price – 142 x Gains in 1 Month

The first striking thing about Tron (TRX) is that it has a very high circulating supply. As of June 2018, there are more than 65.7 billion coins in circulation, while the total supply is 100 billion.

Tron Initial Coin Offering (ICO) was held in September and the initial token price was USD 0.0019 for 1 TRX.

TRX was trading at around USD 0.002 until the beginning of December. Then, the unimaginable happened. From December 6, 2017 to December 21, 2017 TRX increased its value around 35 times! From USD 0.0021 to USD 0.071.

 

During this period, the crypto gold rush was conquering more and more beginner investors making Tron one of the big winners. After reaching USD 0.07, TRX price corrected 50% but on December 30, 2017 it embarked on another winning streak.

TRX price went up to USD 0.3 on January 5, 2018, which is the all-time high as of mid-2018. After this massive spike, the calculation is simple. Tron increased its value around 142 times in less than a month.

The main reason for the snowball effect, which lead to the rise, were the overall sentiment in the market during this period and Justin Sun – the founder of Tron, who was fueling the hype, announcing new Tron partnerships almost every day.

TRON price chart

 

Like the one that Peiwo APP – the largest audio content community in China – will integrate TRX. In February 2018, Peiwo declared the successful connection between TRX and the app.

In mid-2018, the price of TRX is USD 0.041 amid a global crypto market meltdown.

 

 

Tron - One of The Most Controversial Crypto Projects

 

Tron was officially born in September 2017 after the project raised USD 70 million during its ICO stage. Tron aims to build an infrastructure that will “decentralize the web” and make it censorship resistant by hosting decentralized applications (DApps). It was built on the Ethereum blockchain and its initial goal was to remain there, but due to scalability issues, the team decided to leave the Ethereum protocol.

Which leads to where we stand today. On June 25, 2018, Tron launched its Mainnet, with Justin Sun calling it the “Independence day”. Thus, the ERC20 TRX token migrated to the TRON20 standard, a native coin for the Tron Mainnet. So, developers are now able to build DApps on the Tron blockchain.

The migration from the Ethereum blockchain positions Tron as a direct competitor to its previous host, aiming to resolve Ethereum scalability issues. We may even say that Tron has bigger goals because it will try to be a combination between Ethereum and Steem. Users will be able to create apps, content, games and also – to stake TRX to gain more authority, just like on Steem.

 

tron-crypto-project

Ultimately, we can say that Tron will try to make entertainment content both easier to sell and cheaper to consume, by cutting out middlemen like Google Play Store and Apple Store.

The ambitious goal to “heal the internet” will be put to the test after the “Independence day”. Tron claims to be one of the largest blockchain-based operating systems in the world, but so far they haven’t shown a lot of accomplishments to prove this claim. Tron is definitely one of the controversial cryptocurrency projects.

That’s why the launch of the Mainnet will be watched very closely from Tron’s critics and from this moment of time, they will have to start delivering on their promises. If the technology behind its proprietary blockchain fails, this may lead to a disaster for all the investors in the project.

 

 

The main stain on Tron reputation is that its whitepaper was basically plagiarized from Filecoin and IPFS. The whitepaper is supposed to be the foundation of the cryptocurrency that you are building and that’s why when this was discovered in January 2018, Tron faced massive criticism. Including from some of the most notable people in the crypto space like Charlie Lee and Vitalik Buterin.

Justin Sun responded to the accusations, tweeting that “the original version of the whitepaper is in Chinese” and the English, Korean, Japanese and Spanish versions were translated by volunteers, who “missed numerous important details not just reference”. And this didn’t change a thing. Still one of the most distinctive facts related to Tron which the average crypto investor remembers is that they copied their whitepaper.

Nevertheless, Tron managed to become one of the most hyped projects in the crypto universe and it currently ranks ninth by market capitalization among cryptocurrencies.

A key role for the rising popularity of Tron has its 27-year-old founder Justin Sun, former Chief Representative of the Greater China Region for Ripple. Many of the people who invested in Tron did it because of his promising resume. Sun was also listed in Forbes China 30 Under 30 from 2015 through 2017 and in 2017 Forbes Asia 30 Under 30. In 2018 he was a member of the first graduating class of Hupan University, where Jack Ma, the executive chairman of Alibaba Group is principal.

 

 

Tron Is Transitioning to Odyssey - Stage 2 of Its Roadmap

 

Plagiarized or not, we have to take a look at Tron’s whitepaper if we want to find out more about the technology behind the platform. There we see that Tron aims to use a Delegated Proof-of-Stake (DPoS) consensus mechanism in order to achieve faster and cheaper transactions.

 

The consensus mechanism of Tron consists of a three-step strategy for adoption:

The first step is a Kafka-based technology system, which has to achieve joint debugging and functional integration, by implementing a centralized consensus mechanism. This is the stage Tron is currently in.

The second step is a Raft-based distributed consensus mechanism which has to improve the network and set the foundations for wide distribution and more decentralization.

The final step for Tron is to adopt the PoS mechanism and to realize the Byzantine Fault Tolerant Consensus (DBFT) based on the "Margin Mechanism + Epoch Confirmation". Also - in this phase the compatibility consensus between PoS and PoW is supposed to happen.

TRON project scrutinized

 

 

The project has six main stages on its roadmap:

1. Exodus (2017-2018): During this period the free peer-to-peer platform where creators will be able to publish, store and distribute content should be live. The end of June 2018 marks the conclusion of this phase.

2. Odyssey (2019-2020): A staking system for rewards should be implemented.

3. Great Voyage (2020-2021): Developers will be able to launch ICOs on the platform.

4. Apollo (2021-2023): Users will be able to create their own customizable tokens (TRON20).

5. Star Trek (2023-2025): A decentralized platform for gaming and forecasting will be launched.

6. Eternity (2025-2027): Users will be able to fundraise and monetize based on community growth.

 

 

Another important feature of Tron which has to be mentioned is that the platform will have three different tokens:

1. TRONIX (TRX) – the cryptocurrency that is traded on most of the big exchanges. TRX has a value based on the market demand and will be used as a means of exchange on the Tron ecosystem.

2. TRON 20 Token – it will allow creators to make their own customizable tokens and its value will be determined by the market.

3. TP TRON – it will be obtained as a reward when staking is implemented on the platform. The more TP you have, the more influential you will be on Tron.

 

 

Tron Is at The Beginning of Its Journey to “Decentralize the Web”

 

Tron has the really ambitious goal to “decentralize the web”, but in our opinion, what they have achieved so far as a high market cap ranking is mainly due to the hype rather than an actual technology progress. The real journey for Tron starts after the “Independence day” and if they want to accomplish everything they claim they will, it will take a long time.

However, if Tron proves that they are not just copycats and their technology actually works, it could change the way we use and interact with mobile applications, games and social media forever.

From an investor’s point of view, I would take a very cautious approach to putting money in Tron. Mainly because its end goal is very far away. In addition, I believe that Chinese Tron investors have a significant advantage over English speaking ones, because most of Tron’s publications come first in Chinese.

For me, it is enough of an argument to know that I will be in unequal position to take appropriate trading decisions, when even the founder of the project states that the translated versions of the whitepaper have significant differences from the original one in Chinese.

If enough credible information cannot be found in the whitepaper itself, what is left for the other unofficial sources.

 

Description text: Lyubo Zhechev
(The views and opinions expressed by the contributor in this text should not be considered financial advice, neither treated as expression of Coins.Online’s view.
Cryptocurrency trading and investing is risky and market participants are advised to always conduct a thorough research.)

 

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