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Why the TRX still makes its early bird investors happy – and why the Tron blockchain could be the next big thing

3 min read

The fact that the mood on the crypto market is currently rather mixed has been written about many times – and of course this cannot be dismissed. The prices of Bitcoin and Ethereum are currently moving sideways, and BNB and Ripple also have room for improvement at the moment. However, if you look at the lower ranks on Coinmarketcap, a coin like TRX, the native token of the Tron blockchain, catches the eye. In the last seven days, the token has risen by 7% – and even by 10,180% since its launch in 2017. Early investors who hodled their coins should still be pretty happy with their investment. TRX is currently trading at $0.1124.

Blockchain Insights: What kind of project is Tron?

The inventor of the Tron project is Justin Sun, who also founded Peiwo, which is considered the Snapchat of China. As mentioned above, the project was launched in 2017, which is notable because the project’s ICO was carried out shortly before the Chinese government banned it. Within a very short time, the project raised $70 million. Shortly after the ICO, Sun left China and is now a citizen of Grenada. Like many others, Justin Sun has been sued by the SEC for selling unregistered securities. However, the entrepreneur is certainly controversial, especially because of his aggressive marketing strategies, which have already caused trouble for one or two celebrities. By the way, Sun is considered a meme coin fan. Among other things, a wallet that is assigned to him holds 108 million Sponge tokens.

The blockchain for the entertainment industry

Tron’s initial focus was primarily on the entertainment market. The aim of blockchain is to make it possible for artists and creatives to sell their content directly to end customers, without intermediaries. In 2018, for example, the company bought BiTorrent, a file sharing protocol that makes it possible to exchange large amounts of data. However, TRON is now the leading platform for dApps and is considered a major competitor to Ethereum, which is interesting since TRX was an ERC-20 token until 2018. Not only smart contracts can be created on the platform, but entire application programs. The blockchain is characterized by its high throughput and great scalability. The network is capable of processing up to 2,000 transactions per second. The network is secured by a proof-of-stake consensus mechanism in which transactions are validated by 27 representatives who are appointed every six hours. The platform’s native token is TRX, which is used to pay for certain functions on the Tron blockchain, for example.

Another special feature of the platform is that no fees are charged for transactions involving TRX. Ethereum, for example, is notorious for high transaction fees. According to its own information, TRON is the fastest growing public chain in the world with over 208 million accounts and 7 billion transactions. The network’s partners include Samsung, Opera, Swisscom and Poloniex.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
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