Hello Investors! Let’s get straight into our video!
Today, we’ll be talking about Tron, the blockchain-based decentralised platform that
aims to build a free, global digital content entertainment
system with distributed storage technology, and
allows easy and cost effective sharing of digital content!
We’ll learn five interesting facts about Tron and its price prediction for 2021.
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Back to the video! So what is Tron?
Tron is a blockchain-based operating system on which one can create decentralised applications
and share media content. The TRX token itself is used to gain access to certain features
of the operating software. Therefore the token’s
main purpose is for use on the Tron network. However,
it is still a store of value and can be traded on exchanges, therefore it can also be described
as a virtual currency.
According to CoinJournal, Tron was created in 2017 by Justin Sun. Originally TRX were
ERC-20-based tokens, underpinned by Ethereum but in 2018 they separated to become their
own token. In that same year, Tron acquired Bit
Torrent, the internet’s largest file-sharing site, which
was a necessary step on their journey to creating a level media playing field on the internet.
TRX’s highest price was achieved in January 2018 when the coin reached $0.30. It was ranked
17th in terms of market capitalization against other cryptos at the time.
Most people don’t know or care that much about the tech, they just want a good UI that
is easy to use and understand. And this is where Tron
excels. Five Interesting Facts About Tron
1. Tron was invented to help reward content creators for their efforts.
In the media industry, a few big companies such as YouTube and Facebook practically control
what 6 and put out on their sites. In other words, they control what is seen by the world.
They don’t just have a massive control over what can be seen, they also receive the vast
majority of money generated by the media. The creators
of what is seen however, only receive a small cut
of the income. This is why this platform was set up, to correct this.
By cutting out the middle-man, it is able to let viewers directly reward content creators
via the Tron network and using the TRX tokens. Thus
the media is owned wholly by the creator rather than in part by a large company.
The network works on a few principles, the first being that all data on the network is
free and not controlled by a central authority. Content
creators are able to gain digital assets, in this case, the
TRX token or other tokens which are underpinned by TRX, as a reward for their content.
As mentioned, it is possible for creators to create their own coins or tokens which
can be used within their own Dapps on the network. These
created tokens are underpinned by the main Tron
token. The final stages of the network development
plan include the support of games on the network. These would be totally decentralised and users
would be able to reward the creators directly if
they enjoyed the game with their own digital assets.
So, content creators, I guess this one's for you!
2. It was the Idea of a 26 Year Old! Tron was an idea of 26-year-old Justin Sun,
a self-proclaimed protégé of Alibaba chief executive
and billionaire Jack Ma. Currently, Tron’s development team works
under their CEO, Jackson Sun, the former chief representative in greater China of Ripple.
Recently, Justin Sun announced the inclusion of the top
Alibaba executives to Tron’s development team. The China office of Tron currently has
more than 100 employees.
3. It is Completely Free! There are no fees for TRX transactions, a
remarkable feat, and the network is able to support
2000 of these feeless transactions every second. Purchasing TRX on a Tron exchange will, of
course, incur some sort of fee as compensation for
the exchange connecting you with a seller. Especially as TRX can only be purchased as
a trade for other coins such as Bitcoin or Ethereum.
As such, you will incur fees on purchasing these
coins outright and then another fee for the trade to TRX.
4. You Own the Data You Create! Tron Cryptocurrency is designed to handle
credit sharing, payment, development, and storage for
a worldwide digital platform. In other words, it means those who own Tron will have total
control and ownership of the data they create, including how it is distributed to the audience.
5. Tron Follows BlockChain Technology The transaction that is made with Tron is
recorded in the blockchain ledger. It also supports various other blockchain
networks like Ethereum, Bitcoin, EOS etc-these are all
leading cryptocurrencies in the world. This enhances Tron’s utility-an unique ability
which gives it an edge over other cryptocurrencies.
As we can see, Tron is a different kind of project. Most of the other Blockchains focus
on cutting edge technology and hope the general public
will be as excited by them as they are. Tron is a far
more consumer focused operation that relies on proven tech and mass marketing for adoption.
Tron Price Analysis & History Before going into price predictions, let’s
have a look at how the coin has been doing in the past.
TRX began operating in mid-September 2017. The price of the Tron was $0.001984 back then.
However, the coin soon came into the greatest crypto bull ever, and gradually increased
from the above lows to its $0.275647 all time highest.
Nearly all cryptocurrency prices depend on Bitcoin directly or indirectly. In this case,
TRX is also no different. It has shown bearish and
bullish runs in many periods as bitcoin. But Bitcoin’s
price alone is not the factor on which Tron’s price depends. Other factors such as a partnership
with big giants, the coin’s popularity, and sudden market trends also affected the
past prices of Tron.
Between August and November 2019, the price of Tron decreased further to between 1 and
2 cents. Following a challenging time, thanks
to the PR campaigns and the integration of the Bit
Torrent token, TRX increased again. In January 2019 the price of Tron exceeded a $0.27 high,
but it eventually fell. Today it is traded at a value of $0.14802.
Tron Price Prediction 2021 Looking forward to next year, the prices of
Tron are certainly higher, as the project is growing.
According to the prediction by Wallet Investor, It forecasts that a $0.12-$0.16 price can
be predicted in mid-2021 and that a high increase
in the price from $0.1741-$0.1930 is forecast by
the end of December 2021. Is Tron Worth the Investment?
If you are interested in the potential of the Tron network and the future of online
media then it is a truly intriguing investment. The TRX tokens
are a prerequisite to interact with the network so
in that sense they would be a good investment, especially if you are an aspiring content
creator or you just have a passion for media.
However, it should be noted that as it is a cryptocurrency, the price of TRX is subject
to fluctuations. At only $0.0503 per token, they
are not at the more pricey end of the crypto scale
but the principles for investment stay the same. Do adequate research before deciding
to invest in Tron and never invest more than you are prepared
to lose. Now it’s your turn. Tell us your views about
Tron and investing in it. Let us know in the comment section below.
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