By now, you all would know that investing
in cryptos is one of the best ways to become rich. However, some of the top cryptos might
be out of reach for many, but there are still some pretty great and affordable options like
Tron coin!! This is Mason from Attain Highly, the channel
where you will achieve greatly. Be sure to like and subscribe, so you won’t miss out
on your success. In today’s video, we will be talking about
“TRON (TRX). We will also do a brief analysis of TRX and look at its price Prediction for
2021 & Beyond.” Without further delay, let’s get right into
the video. Tron is a blockchain-based decentralized operating
system much like Ethereum, and its aim is to build a completely free, global digital
content entertainment system with distributed storage technology that allows cost-effective
and easy sharing of digital content.
Tron is a smart contract platform that offers high
availability, high throughput, and high scalability for all Decentralized Applications or DApps
in the TRON ecosystem. For those of you who aren’t familiar with
blockchain, let me first tell you what it is!! Blockchain is a system of recording information
in a way that makes it difficult or almost impossible to change, hack, or cheat the system.
It is essentially a digital ledger of duplicated transactions and distributed across the entire
network of computer systems on the blockchain. Each block in the chain contains lots of transactions,
and every time a new transaction occurs on the blockchain, a record of that transaction
is added to every participant's ledger. The decentralized database managed by multiple
participants is known as Distributed Ledger Technology. This means if one block in one
chain were changed, it would be immediately apparent it had been tampered with. If hackers
wanted to corrupt a blockchain system, they would have to change every block in the chain
across all of the chain's distributed versions.
The Tron Foundation was in 2017 in Singapore
by Justin Sun with the aim of creating a protocol that could support decentralized applications
and "decentralize the internet." It also has an in-house dedicated development team that
includes renowned technology stalwarts. Sun also founded Peiwo, an app that aspires to
be the Asian Snapchat. This app got Sun into the 2017 Forbes 30 under 30 lists. He was
also the former Chief Representative of Ripple in China and a graduate of Human University.
In 2017, Tron Foundation raised 70 million dollars through an Initial coin offering shortly
before China outlawed the digital tokens.
It began on Ethereum and migrated onto its
own blockchain in 2018, and it has now been directly positioned as a competitor to Ethereum
by Sun. The acquisition of BitTorrent in 2018 further cemented TRON’s leadership in pursuing
a decentralized ecosystem. Tron attempts to bridge the gap between content
consumers and content creators by eliminating the middleman. It uses the peer-to-peer network
technology and the features of the blockchain for this. The result is an improved collection
through direct receipts for the content producer and an overall cost reduction for the consumer,
which offers a win-win situation. Tron acts as a decentralized, distributed storage facility
that makes it more cost-effective and efficient. It eliminates the middlemen by allowing everyone
and anyone to host digital entertainment content on its blockchain-based network. Its global
audience can directly pay the content creators to access the content. Tron's distributed
storage technology and the decentralized platform also attempt to address the challenge of a
very few and powerful corporations controlling the Internet and its contents.
The TRON protocol runs on a Delegated Proof of Stake Governance Model, which allows users
to perform transactions with close to zero-fee whilst still being resistant towards transaction
While Ethereum operates on the gas fee transaction model, Tron operates on the Bandwidth
model, which is similar to that of EOS. This is how transactions on Tron can be much cheaper
and more seamless than Ethereum. Transactions on the Tron Blockchain are maintained by a
consortium of Super Representatives that were voted in by TRX holders who have locked their
stake in the form of Tron Power. There are 100 Super Representative Candidates and 27
top-voted Super Representatives. The hierarchy of SR Candidates and SR are readjusted every
6 hours based on the number of votes they receive from Tron Power holders.
The Tron network's cryptocurrency is called TRX or Tronix. TRX can be purchased on exchanges
like Binance and Liqui by exchanging them for other cryptocurrencies like BTC or ETH.
However, purchases with fiat currencies are not possible at the moment. It can be stored
on wallets that support the Ethereum blockchain like MyEtherWallet. TRX can be used by people
to pay for the content they wish to access.
These coins would then be transferred to the
content producers' accounts, where they can be used to pay for blockchain services or
exchanged with other cryptocurrencies. TRX is currently ranked 16th on the list of largest
cryptocurrencies by market capitalization. Tron is a pretty ambitious initiative that
has lined up many potential milestones in the years to follow. Its current offering
is known as Exodus. Exodus is a free platform suitable for the storage of content and peer-to-peer
distribution. Exodus is not using blockchain technology as of now, but it is using a special
web-based file system protocol that supports a distributed file system. Its next phase
is known as Odyssey. This will leverage the power of blockchain and will involve monetary
incentives to promote the hosting and creation of content on Tron. Odyssey plans to base
the incentives producers on a method that will depend on engagement and user interaction
with the content. It could be linked to a "tipping" plan which could be something like
a reward based on how good the user-perceived the content.
The next two phases are called Great Voyage and Apollo.
These are expected to enable content
creators to build their brands, issue personal tokens, and even get the ability to issue
individual initial coin offerings. These stages of Tron will be similar to Ethereum-style
blockchain-based application platforms. Two more stages are expected in the future, known
as Eternity and Star Trek, where participants will be able to create predictive markets
platforms and decentralized gaming and will also be able to raise funds.
Tron can't be mined by the people as it runs on a Delegated Proof of Stake consensus algorithm.
This differs from Bitcoin, which uses the Proof of Work algorithm. New Tron tokens are
created as block rewards for elected Super Representatives.
This serves as an incentive
to the Super Representatives in maintaining the integrity of the Tron network. You can
participate by staking your TRX and voting for your desired Super Representative.
Daily transactions on Tron have increased by almost 300% in 3 months. More than 3 million
transactions are being recorded on Tronscan on a daily basis. The massive number proves
Tron's great usability. Transactions on the network are superfast and beat competitors
like ETH and BTC at price and speed. Its founder Justin Sun has a great influence and huge
reach in the crypto space, with more than 2.1 million Twitter followers. Mr. Sun has
built several successful crypto projects and is a shark at marketing. TRX is like a baby
to him. Increasing ETH gas prices are also making traders look for alternatives like
TRX. If you send 100 USDT on Binance using the ETH network, you will have to pay between
12 to 20 dollars. While on the Tron network, you will have to pay just 1 dollar. People
will soon realize that TRX is a cheaper way of depositing or withdrawing crypto, and this
will result in an increase in TRX's price.
TRON's price today is 0.134 dollars with a
24-hour trading volume of 5,513,173,178 dollars. It has a circulating supply of 72 Billion
TRX coins and a max supply of 101 Billion. If you buy TRON for 100 dollars today, you
will get a total of 746.235 TRX. Tron's price prediction depends on its acceptance ratio.
It will be accepted by startups, especially music startups or publishing startups. This
will make it more valuable. The TRX price is expected to see some rise in May as investors
witnessed a rally in recent days before a slight correction.
Reports suggest that the
TRON price is up for a long-term 1325.589% in the TRX price value with a 5-year investment.
So by the year 2023, the TRON Price is forecasted to stand at 0.54 dollars.
It also has a great community of developers and supporters. Tron could be one of the favorite
cryptocurrencies for a large group in the long run, as it has a huge support group from
organizations all over the world. TRON even updates the enthusiasts about its roadmap
and every plan, which keeps the crypto enthusiasts thrilled. TRX could reach 0.763 dollars by
2025. In the future, Tron's adoption rate will grow, and its accessibility might take
a higher stand as compared to its competitors. By 2030, Tron's price could climb really high
and reach as high as 1 dollar!! The full potential of blockchain technology
is yet to be reached or realized, but TRON is one of the few projects that has set its
sights on the promise it can offer down the line, and this has an impact on TRON's projected
growth. The coming months and years will be about growing the brand of TRON and making
partnerships in the traditional and crypto tech spaces.
As the adoption of blockchain
tech rises and Tron potential is realized in the content creator space, the price predictions
for the TRX coin could get bigger. Congratulations, guys, you have reached the
end of the video. That's it about “TRON (TRX): What is TRON Coin, Analysis + TRX Prediction
2021 & Beyond.” Don't forget to like the video and subscribe to see more such content
from us. Turn on the post notifications to get notified every time we post a video. Tell
us in the comments if you are going to invest in Tron!!.