When I received an airdrop of TRONIX (TRX) in Liquid and Binance, I thought it was what one could call a ‘shitcoin’ – a title bestowed on the tons of worthless tokens flooding the crypto market with nothing more than a hurriedly written whitepaper and a tacky website. Which was why I exchanged my TRON lot in one exchange for tokens of Kyber Network (A recent ICO that I feel has potential).
Fast a few weeks, and I observed that TRX’s market capital has been steadily staying in the top 50.
But from December 12th to Dec 15th (today) the market capital for TRON went up from about $300M to $1.2B and TRON itself went from $0.005 to $0.02 – a rise of close to 300% in three days
So what is TRON?
TRON, as per their own admission, is a blockchain-based decentralized protocol that aims to construct a worldwide free content entertainment system with the blockchain and distributed storage technology.
The protocol allows each user to freely publish, store and own data, and in the decentralized autonomous form, decides the distribution, subscription and push of contents and enables content creators by releasing, circulating and dealing with digital assets, thus forming a decentralized content entertainment ecosystem.
In very simple words, it wants to showcase itself as a new kind of "distributed economy" in digital entertainment—including anything from streaming video to online gambling to social networks, where the users are the ones who own the economy.
A Forbes article about Tron is quoted here, “What TRON provides is a shared platform for the whole entertainment market to maintain user information and share it between systems, and is claiming that in so doing it is “breaking down information barriers” between apps.
Peiwo App with over 10 million users will become the first TRON-compatible entertainment APP. Piewo is a Chinese social media app created by Justin Sun and has been test-running the TRX tokens with their enormous user base since September.
Tronix (TRX), is the native token for the platform and it is currently trading on various exchanges such as Binance and Liqui.
What are TRON’s credentials?
TRON has a team of almost 30 members headed by Justin Sun – a incredibly successful young man from China who is hyped to be the next Jack Ma.
Sun is also a graduate from the University of Pennsylvania and a former Chief Representative in Greater China of Ripple. He was featured twice in Forbes – in the 2015 Forbes China 30 under 30 and in the 2017 Forbes Asia 30 under 30. Sun is also a protégé of Jack Ma, the Founder of Alibaba Group and one of the biggest Asian entrepreneurs today.
Sun was featured in August on an exclusive Forbes article and was described as a Millennial 'Crypto' Tech Visionary who could Be the Next Jack Ma
Should you invest in TRON?
It’s a hard call, but going by the founder’s credentials and recent statements, TRON is looking for long term big investors and if they succeed at that, the project could receive even more interest from the crypto community.
The exponential rise of late has been credited to the news of a partnership with the virtual Gifting platform Gifto (read news on cryptoslate.com).
There is also a lot of speculation around a possible partnership with Jack Ma's Alibaba - the Chinese Ecommerce giant and if this goes through, would be a major shot in the arm for TRON.
Irrespective of the speculation though, TRON is something you should keep on your radar and the numbers along suggest, there quite a few crypto whales who are betting big on TRON.
For further details, you can visit the Official Website.
Disclaimer: The details in this post are provided for informational purposes only and is not to be taken as investment advice. Cryptcurrencies are extremely volatili and you need to do your own research before investing.
