- What is TRON?
- How it all started
- TRON cryptocurrency rate
- TRON market capitalization
- Prospects of TRON cryptocurrency
Those who remember a famous film Tron released back in 1982, or its sequel made not so long ago, will probably understand what this project is about. In fact, TRON is a decentralized blockchain online-entertainment platform that aims to create a worldwide free online gaming network. The project is based on Ethereum blockchain. In other words, TRON is a kind of AppStore or Google Play, a network where users can upload their entertainment products and applications and use them. Gaming industry product developers can use TRON platform to promote their projects and applications.
The project was founded by Justin San, a young businessman from China. In 2017 together with his team of developers he founded a non-profit organization TRON Foundation, in Singapore, that manages blockchain of TRON platform. In the fall of 2017, the project completed a successful initial coin offering, having collected 15,000 thousand Bitcoins. Around 40% of the total supply of coins were available for investors during the ICO. The total supply itself was 100 billion coins.
At the end of 2017, TRON CEO and Founder Justin San announced. that some developers from the Chinese e-commerce behemoth Alibaba.com joined the project.
In 2017, when the project was launched, TRON (TRX) coins cost much less than a cent. The first noticeable growth of TRON coins rate was observed in early December 2017, when the cryptocurrency increased up to several cents. The very beginning of 2018, rather tough year for virtual currencies, was really successful for TRON. During the first days of January, the rate increased to 25 cents. However, it experienced correction afterwards. and in spring, 2018, coins cost between 2-4 cents. Today, according to CoinMarketCap, users can buy TRON cryptocurrency for 6 cents.
Currently the project is one of the market leaders in terms of market capitalization. TRX coins reached the top-10th place among the largest virtual currencies by market cap, which today amounts to 3,965,571,055 US dollars. The circulating supply of TRX coins is 65,748,111,645 TRX and the total supply is 100 billion coins. TRX trading volume leader is a cryptocurrency exchange called Binance. Coins are also traded on such platforms as: Bittrex, HitBTC, Huobi, OKEx, Koinex, YoBit, Cryptopia and others.
The market of online entertainment is really huge. It is estimated at hundreds of billions of dollars and has an audience of hundreds of millions of people. China is no exception. Moreover, Asian countries together with the Middle Kingdom, have traditionally been considered one of the leaders in the gaming industry, along with the United States. Therefore, the prospects of TRON platform can be quite promising, considering the features of the market, where it operates. The crypto currency protocol provides high transaction speed, as well as enables users to make extremely small transfers.
TRON is a very affordable coin. However, is it actually worth investing in the project in 2018? It is difficult to say. Yes, the online entertainment market is indeed a good place to work and Chinese investments, as well as active project development can ensure TRX rate growth, especially in the long term. So it may seem reasonable to buy some coins now and hold them until the rate goes up (for example to 5 dollars). However, there is of course no guarantee that everything will happen exactly that way. Besides, TRON coins are not really liquid – it will be difficult to use them anywhere, except of converting them into other altcoins or using inside TRON platform. Anyway, it would probably be a bad idea to go all in for virtual currencies in general, and TRON is not an exception here, but still this project has a potential to be successful, which it has already proved having entered top-10 virtual currencies by market cap.