Tron is a platform with its own blockchain-based digital decentralized cryptocurrency, called Tronix or TRX. Founded in 2017 by a non-profit organization in Singapore, the Tron Foundation aims to host a global entertainment system for cost-effective digital content sharing.
Originally marketed primarily in Asia, Tron has now become globally known. The platform had over 50 million accounts as of August 2021. To become a vast online entertainment project, the TRX team has partnered with substantial game developers, streaming websites, and many social media platforms to achieve its goals.
Founded by Justin Sun, now its CEO, Tron has its offices in Singapore and San Francisco. Born in 1990, Sun is also the CEO of the famous peer-to-peer file-sharing software – BitTorrent.
What is Tron (TRX)?
TRX is one of the top 5 altcoins, and it’s becoming increasingly popular in the last period. One of the reasons for this is that it allows developers to create decentralized applications that do not require intermediaries, based on blockchain technology, using Smart Contracts – such as Ethereum or Cardano. This cryptocurrency has one of the most impressive levels of scalability, supporting 2000 transactions per second.
Initially, TRX was created as ERC-20 crypto, based on Ethereum’s blockchain, but following its ICO (Initially Coin Offering), the developers have created Tron’s blockchain and migrated the TRX coin there.
TRON’s primary goal is to decentralize the Internet and “give the power to the people,” allowing them to create content, websites, and applications without forcing control over their content in any way – what is a great advantage in contrast to the practices of huge global companies such as Facebook, Amazon, Google and so on.
Thanks to the fact that TRX has a fast and reliable blockchain, it is perfectly capable of supporting massive amounts of transactions very quickly. Thus, it can be used for micro-transactions that would allow users to offer tips and pay for in-game currencies or various perks, thus getting the ability to be used in the gaming industry.
The system uses TRX to pay content creators directly. And since TRX transactions are also accessible on the platform, content creators do not have to pay any transaction fees.
How is TRX performing? Is investing in TRX a good idea?
As with any other cryptos, before purchasing or getting involved, it’s essential to do a bit of research. With thousands of cryptocurrencies to choose from out there, researching and picking the ones you like the most is crucial. And as we think you’re already familiar with, this involves looking at some charts.
As you can see, in July 2021, the coin price dropped (as most cryptos did) to almost $0.05. This was impacted by BTC and the bear market we were in, but TRX held its position firmly, thanks to its excellent roadmap, partnerships, management team, and, last but not least, popularity. There’s been a lot of hype around TRX, especially in the entertainment industry, which also includes the gaming scene. It’s no wonder that the coin is being talked about so much all over social media.
In the last few days, TRX is staying in the $0.085-0.095 price range. There’s a strong support level around $0.085, and it looks like if the current bull market continues, we might see TRX breaking the $0.1 barrier.
Tron continues to gain momentum, and its ecosystem is constantly growing, especially regarding dApps, new projects, or services. Its blockchain is fast and scalable, which gives it an advantage over older projects, which are usually slower and consequently more expensive when it comes to fees.
Tron (TRX) price prediction for 2021 and further – a slow but constant growth?
According to various analysts, it is more than likely for TRX to reach $0.3 – $0.4 this year. This, is directly related to the general progress of the crypto scene – if this current bull run continues, we might see it happen pretty soon. On the other hand, if we go into another bearish market, it might take a little longer.
The CoinSwitch team has conducted their analysis, and they believe that TRX could reach a price level of $0.5 – $0.7 in 2021 or 2022. Regardless of that, most analysts consider TRX a relatively safe altcoin that seems to promise constant growth, even if it might not spike by 1000% over the night.
Tron was created as a direct competitor in the media industry, including against web giants such as Amazon and Netflix. Its slogan is “Decentralize the Web,” and its purpose is to remove the corporate intermediary from the process of media consumption.