Tron

Tron, The Best Blockchain-Based Operating System of 2021

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  • Post last modified:December 14, 2021
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Tron is a decentralized cryptocurrency and an open-source blockchain operating system built by the Tron foundation. It has a smart contract functionality and Decentralized app (Dapp) features which allows other cryptocurrencies to work on its system.

In this unbiased review of cryptocurrencies, be prepared to read all about Tron, to enable you to make an informed decision.

The blockchain-based operating system has its own native cryptocurrency called the TRX. The TRX Token allows users to gain access to certain features on the blockchain-based operating system.

Tron system claims its network has more capacity than the major cryptocurrencies like Bitcoin and Ethereum, it has a capacity of 2.000TPS (TRANSACTION PER SECOND). whereas Bitcoin can handle 7 TPS and Ethereum, 15 TPS.

Tron was originally an Ethereum ERC-20 token but changed its protocol and switched to its own blockchain back in 2018.

Tron, The Best Blockchain-Based Operating System of 2021

The Tron Foundation And Owner

Based in Singapore in the southeast part of Asia, is where the Tron foundation can be located. The foundation is a non-profit organization that works mainly in the operation of the blockchain-based network.

Tron has offices in San Fransisco USA and Singapore. The foundation uses the principles of openness, fairness, and transparency in building the network. The Tron foundation team observes regulation and compliance to its highest value. The foundation operates under the supervision of the company law of Singapore and is also approved by the accounting and corporate regulatory authority.

Everything About The Tron Foundation And Owner

Headed by young Justin Sun, A 31-year-old tech millionaire. He has achieved a lot considering his age, He first created the Peiwo app which already has 10 million users.  Peiwo was a hit in China and became the topmost video streaming app. Also, Peiwo is the first live streaming app to receive cryptos. The Peiwo app is one of the leading members of the online audio content community currently.

Justin Sun, A 31-year-old tech millionaire, and Jac Ma, the founder of Alibaba

Justin Sun is also the sidekick of the founder of the Ali Baba group. Jack Ma hand-picked Justin Sun to study at his university which has a lower acceptance rate than other top universities.

Justin Sun is also a graduate of the University of Pennsylvania with an M.A in East Asia Studies. Justin Sun also surrounds himself with all-star mentors including Tim Berners-lee and Feng Li. Tim Berners-lee is known for creating the World Wide Web while Feng Li is an advisor of Ripple.

Justin Sun has an estimated net worth of 200 million. whenever you have doubts about the Tron cryptocurrency, think of the success of its founder.

TRX, The Native Token Of Tron

In January 2017, the TRX Token was announced to the crypto market during a private sale of 25.7% of the initial token supply, after that, there was an Initial Coin Offering (ICO) for 40% of the total supply of TRX in August 2017.

Tron then held the remaining 34% of the Tron Tokens. The Tokens were initially based on the Ethereum ERC-20 network but shifted to their own network in 2018.

As of today December 14, the live market price of Tron is $0.086713 and has a 24hr trading volume of $930,492,446. The current coinmarketcap ranking of Tron is #20 with a live marketcap of $8,834,447,661.

coinmarketcap Live Price Data Of Tron

Tron has a total circulation of 101,881,843 TRX Tokens. The alternative name of TRX is Tronix. The smallest unit of Tronix/TRX is called SUN just as the smallest unit of Bitcoin is Satoshi. 1,000,000 SUN=1 TRX

How To Mine Tron (TRX)

Tron Tokens cannot be mined directly by the general public. Rather, the Tokens of the consensus network can be mined by staking the Tron Tokens. Also, maintaining the balance of the Tokens in an eligible wallet can power your investments.

The Proof Of Stake policy of Tron solely relies on 27 super representatives who come out with new blocks for the network. These people are chosen with a vote by TRX holders.

How To Mine Tron TRX

New blocks are generated every 3 seconds on the Tron network and all the super representatives get 32 TRX tokens as a reward. Through a year, the super representative makes 336,384,000 TRX just in block rewards.

Tron uses fewer computers and electric power because it depends on a network of decentralized computers. Unlike Bitcoin and Ethereum where anyone can mine even on a slow old-aged computer with extremely slow internet.

Where to Buy Tron

Tron Token (TRX) is not hard to get since it can be found in almost 90% of crypto exchange platforms. But according to Tron Foundation, the following exchanges allows users to buy the TRX:

Because of the popularity of Tron, it is largely supported by many software and hardware wallets. Some of these wallets include the Tron wallet created by the Tron foundation and ledger.

As a word of caution. With all cryptocurrency wallets, it is very important to secure your wallets with strong passwords and keep all information about your assets private and safe.

If you lose access to your wallet or allow someone to get your wallet information, you could lose all your TRX and any other cryptocurrencies in your wallet.

How To Setup Tron Wallet | How To Get A Tron Wallet | Tron Wallet Tutorial  | Wallet tutorial, Tron, Dogecoin wallet
The web interface of the Tron wallet

How Secure Is Tron

The Tron network uses a consensus mechanism called delegated proof of stake.

Holders of the TRX Token can hold their assets to get Tron Power, that is they can vote for super representatives who work as block producers.

These representatives receive TRX Token as rewards for verifying transactions. These rewards are then distributed among the number of people who voted.

According to Tron, this mechanism helps its blockchain to achieve higher levels of outputs,

Special Features Of Tron

The Decentralized Blockchain network uses a delegated Proof Of Stake (PoS) system, that is it uses very little power over other cryptocurrencies like bitcoin.

Tron’s ecosystem gives the network the ability to operate far more transactions at a time. It works way faster than Proof Of Work (PoW) systems such as bitcoin. which depends on a massive network of crypto miners.

Higher throughputs are not just the abilities Tron has over the major cryptocurrencies. Tron claims it can take about 10,000 transactions per second with no fees.

DeFi: TRON (TRX) and BitGo partner for custody of wBTC and wETH
Special Features Of Tron

In the 2018’s white paper review, Tron claimed its proof of work mechanism allowed 2000 transactions per second with which major cryptos were nowhere near that number. With Bitcoin at 3 and Ethereum at 15.

The higher throughputs and lower costs make it attractive for investors to invest in Tron.

Is Tron A Good Investment?

Most crypto experts say Tron might be a good investment, though its worth is still relatively small, it is highly possible that we’ll see an increase over the coming years especially as the demand for Dapps continues to go high.

As with other cryptocurrencies, you cannot be 100% sure of an investment so you might as well prepare to lose cash along the way. However looking at Tron’s performance in recent times, the website will soon be adopted by millions since people like lower prices.

Is Tron A Good Investment?

As a long-term investment, Tron could perform very well. According to its predictions, the value of the TRX Token could rise to $0.295 by early 2022 and rise to $0.35 by mid-2022 and gain a value of $0.75 by 2025.

Can Tron Reach $1?

Can Tron Reach $1?

According to Coinmarketcap,  the coin is trading around $0.084433. It has a Marketcap of $7.5B and an all-time high of $0.3004. for the past year, the coin has been on a promising uptrend with a value rising from $0.01.

Just like other cryptocurrencies, TRX started 2021 with a bullish note. In January its value was around $0.0267, and in mid-February, it was $0.05, moving to the end of March, it hit $0.06 and in April it was $0.09. Getting to mid of April its value hit $0.1.

As with the analysis above, although it has been substantially growing this year, the price is dragging now and might be long before it gets to $1 but with the performance, it has bagged so far after landing on the market, it is safe to say it going up to $1 can happen sooner than expected.

Summary

With a young and energetic young tech millionaire as a leader, This currency can take you to places. Tron has a very bright future beyond 2021 with the developments going on within the ecosystem of the currency,

Ever heard of the quote ‘’show me who you surround yourself with and I will show you who you are” this popular quote goes to Justin as He surrounds himself with the likes of Jack Ma and the inventor of the World Wide Web.

Bullish Tron value forecast of 2021 is $0.3 and as mentioned earlier, the fact that it can get to $1 is real and can happen sooner than expected as most investors voice out words of it being a good long-term investment.

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