Tron is a project founded by Justin Sun. It is a controversial project and there are many supporters and opponents. On the one hand, there are the proponents who particularly cite the partnerships of the past, such as the purchase of BitTorrent. It has caused a lot of conversation all over the world and undoubtedly put Tron on the map. The won lunch with Warren Buffet also caused a lot of fame.
On the other side, however, are the opponents. An important argument for this party is that Tron is mainly about the founder. His face can be found on almost every marketing communication and on social media, stories are sent out into the world non-stop. That while the product itself, Tron, is still used by relatively few people for what it is really intended for.
In short, there is a lot of tension around the project and the Tron expectation for the future. A good reason to take a closer look at the project. In this article we look at the Tron coin and give you information that you can use to make your own potency analysis. What will the Tron crypto do?
What is Tron?
Tron is a project that aims to develop a decentralized platform on the blockchain. With the help of this platform, content creators can post and also manage it themselves, allowing them to keep the earnings for themselves.
Do you like to make videos or can you sing well? Often this material is now posted on youtube or something similar. This party therefore receives a large part of the advertising revenues. With Tron you have complete control over the distribution, so you can also bypass parties such as Youtube.
Tron is being developed for everyone who is active in the entertainment industry market. Do you make songs? Then Tron is made for you. The same applies to you if you sometimes watch videos on Youtube or sometimes post an article on Steemit. Even online gambling falls within the target audience, because you are always betting on something from the entertainment industry. Tron therefore clearly wants to appeal to a large target group.
On the Tron platform, the Tron coin (TRX) is the cryptocurrency with which it all happens. This coin is used to reward content creators, but can also be used to tip someone. In addition, you can be rewarded by actively responding to the platform.
The online entertainment industry is huge, the complete market is about 1 trillion dollars. So when this coin will catch on, partly due to the integration on the Peiwo app in China, it can go very quickly. The coin and platform is still in its infancy right now, but who knows what it can pull off in the future.
Not so long ago, Tron acquired Bittorrent. On this website people can download torrents with, for example, movies or music. This is therefore done en masse (illegally). With this acquisition, Tron has managed to reach a large audience. On that platform you can now download faster with the help of cryptocurrency.
Basically, the intention is for Tron to create a decentralized network for content creators. In this case, the user does not have to pay first to platforms such as Youtube or Facebook, but can transfer the compensation for the content directly to the artist. The purchase of Bittorrent is therefore an interesting choice, because this was one of the first really large decentralized network for content.
Our society is increasingly shifting towards decentralization. We like to keep the reins in our own hands and it seems only a matter of time before we say goodbye to the big platforms and ‘do business’ directly with the content creators and not through the intermediaries (the platforms). The moment Tron manages to meet this need, this can turn out well for the Tron expectation.
Tron consists of several properties that I will briefly explain below:
- Three-layer architecture: core, storage en application
- Delegated Proof of Stake: for high speed and an incentive for users to contribute to the network
- 27 super representatives: these are the ‘representatives’ who actually generate the blocks and validate transactions
- Tron virtual machine: the ability for ethereum developers to use the Solidity language to create decentralized applications on Tron
What does the Tron rate do?
Tron was born from a very successful ICO held on September 1, 2017. A total of $70 million was raised. At the time, investors could buy one TRX coin for 0.00000038 BTC, which equates to about $0.00179 each. The current Tron price is at a value of $ 0.060283.
The first Tron tokens have been sold in a private sale. In total, 25.7% of all tokens were sold for a value of $0.0003 each. In the public sale, 40% was sold for a value of $0.0015 and the remaining 34.3% was spent on the foundation and the team.
If we look at the TRX price, we see that the first quote was on September 15, 2017. Investors could buy the token for $ 0.0014. Not long after, the price rose sharply for the first time and then moved sideways to the bull market of 2021.
The Tron All Time High is at a value of $ 0.231673 (January 5, 2018). It has been a total of 1719 days since this rate was reached. Since its inception, the project has secured a market cap of $ 5,562,657,648 placing it in 16th place of the largest crypto projects in the world.
We recommend that you keep a close eye on these price data. Do you see trends in this over a longer period? Then there is a chance that you can respond to this because you see them first. Doing your own research is extremely important in your search for a good investment.
What is the Tron forecast 2022 – 2027?
It is difficult to outline a good Tron price forecast for the future. We can say this about any cryptocurrency because no one can see into the future, but this is absolutely true for the TRX coin. As far as the use case is concerned, it’s okay, but there’s enough fuss around the project.
In the first place, it is good to say that there is a lot of disagreement around the project. On the one hand, there are the supporters who blindly trust the founder Justin Sun. On the other hand, there are the people who would rather have nothing to do with the project for that very reason.
It is a prominent figure in the crypto world, but not without controversy. Sun uses marketing to ensure that the project gets to everyone’s attention and he does it well. In addition, good purchases are made such as Bittorrent. In fact, you can’t get around the project.
Yet there are also people who say that the project is mainly about the marketing that they are good at, not so much about the end product of the project. This makes it a difficult coin to say something meaningful about it.
There are a lot of projects with a good product without marketing and they just don’t get off the ground. Same vice versa. No matter how good your marketing is, if you don’t have a product that is actually needed, it will never be a great success in the long run.
With regard to the Tron forecast for 2022, it must be concluded that this is difficult to predict for such a period. It has proven that it knows how to grow with the crypto market since its inception. However, that does not mean that it is not susceptible to large fluctuations such as the outbreak of a bear market.
With regard to the Tron expectation for 2027, it is already something different. The assumption among most crypto enthusiasts is that the market in general will grow significantly over a five-year period. Tron has shown that they can effortlessly keep up with these increases, not least because of the marketing and the huge support they have on social media, among other things.
Can Tron combine this with a growth in product adoption? Then no TRX expectation seems too crazy. We have seen significant increases in the past. For example, just after the coin’s introduction, the price rose by 15.757% in four months. This is of course no guarantee for the future, but it does indicate what is theoretically possible.
Historical Price for TRON
What is the use of the TRX coin?
The Tron coin (TRX) is the currency on the Tron network. The TRX crypto is the starting point for all products of the project. You pay your transaction costs with it, you can pay subscription costs with it and even use it to generate passive income through Delegated Proof of Stake. The return for this is approximately 2.3% – 7.01% per annum.
The last and most common way the Tron crypto is used is as an investment. Do you have faith in the project and do you expect it to be used more in the future and therefore worth more? Then you can buy the Tron coin as an investment. You can also see it as a share in the network itself.
For this it is good to look at the scarcity of the token, among other things, to help estimate the future value. You can do this by comparing the current supply (92,360,272,949 TRX) with the maximum supply (101,900,409,184 TRX).
In the past 24 hours, the exchange rate difference -1.24% and in the last seven days this was -5.89%. Do you see sudden fluctuations that are different from the past period? Then it could be a good time to get in or sell.
|Huidige supply||92,360,272,949 TRX||Maximale supply||101,900,409,184 TRX|
|% difference 24h||-1.24%||% difference 7D||-5.89%|
Where to buy Tron?
Have you decided that Tron is a good investment or do you want to use the staking mechanism to earn passive income? You can do both on the Bitvavo exchange. You pay few trading costs here and can stake all your tokens with one push of a button.
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The latest Tron news
We have already reviewed many factors surrounding the Tron crypto. Yet there is one more important source of information that we have not yet covered and that is today’s Tron news. Are you not following this closely yet and are you interested in the project? Then we recommend that you do so.
By following the Tron news closely, you will be the first to see the latest developments and you can also be the first to respond to them. The project focuses on social media among other things with its use case, so the Tron twitter account can be a good source of information.