Tron (TRX)

The #12 Ranked Coin on CoinMarketCap.com

By: ThinkAltcoin.com

1. General

According to Tron’s whitepaper, Tron wants to become “a new content platform [that] provides security, scalability, and privacy, and simultaneously allows the participants to actively contribute to the processing capacity of their machine to build a user registration network.” In simpler terms, Tron wants to replace Facebook, Twitter, and other social media platforms with their blockchain. Instead of having third parties like Facebook own the content that you post on their platform, Tron gives you ownership, and pays you for your content. While companies like Facebook are able to reap in profits through your content, Tron allows you to earn your complete revenue share.

Tron was created by Justin Sun, who graduated from Alibaba’s executive chairman Jack Ma’s Hupan University. He has founded the Peiwo app, which already has over 10 million users, and has been listed by Forbes as 30 under 30 in Asia. Justin Sun also graduated from the University of Pennsylvania, and was handpicked by Jack Ma to attend Hupan University.

No one truly controls the network. The Tron Foundation, the founding company, created Tron to be independent of third party influences. Although developers in the foundation are leading the development and compliance with laws, Tron will eventually become decentralized.

Let’s say that you are an artist. You post on Facebook to share your content and get exposure. However, once you have posted on Facebook, Facebook now owns your content. They can use it to advertise, and can generate advertising revenue through others viewing your content. You would be earning none of that revenue. Tron wants to completely change that profit structure. Instead of the company or another third party owning your content, you would have completely control over the profits of your content. Tron wants to replace social media giants with a decentralized, open network where content creators earn the profits.

With the potential to replace social media and allow users to earn the profits, the potential for massive growth is certainly there. Social media is a billion dollar industry, and Tron will tap into artists, video makers, and any other content creator to join its platform. One example of a product created on the Tron network is cryptopuppies. Tron dogs are still selling for $18, one example of many successful products already on the Tron platform.

The easiest way to obtain Tron is through an exchange. However, with the current Tron airdrop, it is possible to earn 500 free TRX tokens through this link on Telegram: https://t.me/Tron_bounty_bot?start=NjA2MDM2NDUw.  

For the most part, Tron is anonymous. Similar to Bitcoin, Tron has public ledgers that mark transactions that occur. However, Tron uses an extra security feature known as UTXO, to ensure that the receiver will be able to get the exact amount that was sent, or the transaction will be denied.

99 billion Tron.

2. Economics

All that’s needed to complete a Tron payment is a wallet and Tron tokens. Similarly to paying with cash (in this example, I’ll use US Dollars), you would simply send your Tron from your wallet to another person’s address (I’ll discuss wallets further below). Receiving Tron is similar, just like how someone else would give you cash for you to put in your wallet, someone else will send Tron from their wallet to your wallet’s public address.

Tron’s has the potential to disrupt and possibly overtake the social media industry. With billion dollar corporations like Facebook and Twitter running the social media industry, Tron can change how people post and share on social media platforms. Tron’s founder Justin Sun is the protege of Jack Ma, the founder of Alibaba, which immediately increases the outreach of the coin. The greatest advantage of holding Tron is the system where content creators can avoid the fees of platforms like Google Play, the Apple Store, and Facebooks. In addition, since Tron’s idea is the administer free public services, the founding company behind Tron will only profit of the success the Tron.

The disadvantages of investing in Tron are similar to investing in any other cryptocurrency. Cryptocurrencies are highly volatile. A coin that is worth $300 today could be worth just $30 tomorrow. Future laws from the SEC or another government could be detrimental to Tron, and to the entire cryptocurrency industry.

Another disadvantage is that Tron has to compete against billion dollar companies, that will definitely fight against Tron should it become a more popular choice. Tron is still too new: first, it has to get the users to join its network, and even then, will have to compete against established corporations like Facebook and Google.

Tron’s founder Justin Sun was the protege of Jack Ma, the founder of Alibaba. He has direct connections to multiple financial powerhouses in China and beyond, and is extremely public with his actions and directions.

3. Use

The Tron Mobile apps are definitely the best bet for a wallet currently, as they are made directly from the founders with high security in place.

Bittrex and Binance provide the ability to store and exchange Tron for USD and other coins, and while not as safe from hacks as a Hardware Wallet may be, has easy access for transactions and purchases.

Tron Wallet Mobile: Google Play, iOS: Extremely safe cold storage wallet for Tron created by the Tron founders.

The way to lose Tron is to forget your password to your virtual wallet or to get your account shut down/hacked. If you lose Tron in these ways, there is unfortunately no way to recover it. Most of the times the Tron that is lost remains lost and that amount is taken away from the world pot of Tron. However, because there is a limit on the amount of Tron to be produced, the value of each remaining Tron will rise.

4. Future

Tron likely won’t be used by major companies or countries. Tron’s target audience isn’t corporations: Tron wants to replace them. Tron’s success depends upon its popularity of use by individuals and content creators, the ones who make the products and the ones who view them. If Tron becomes popular with everyday visitors, then Tron will likely have the opportunity to compete and possibly (low probability) to overtake Facebook and Google.