Tron is battling its way in the Cryptocurrency industry and is becoming more and more well known. But for those of you still new to the digital economy, here are a few details on one of the more well known Cryptocurrencies:
The Background Information
Tron has high hopes for the future and its main objective is to replace what we know currently as the internet. It has very large shoes to fill. The aim is for Tron to become a “free global digital content entertainment system” that is decentralized all powered with the vital assistance of Blockchain. The roadmap is a long one considering the size of the task ahead.
As we all know, as technology improves – almost on a daily basis these days – inventions that were made a few years ago really do need to keep up and on top of their game to ensure that they are still the best that they can be. The internet is no different. One of the big bones of contention at the moment worldwide is privacy and censorship. This is across the board in all industries with regulation becoming fundamental in Cryptocurrency and Blockchain now. Tron want to address this.
The Tron team is ever growing as the scale of the project becomes larger. There are now over 100 employed spread globally in two headquarters as well as quite a few offices.
Tron The Cryptocurrency
Tron – TRX – has 99,000,000,000 tokens available with a market cap of $1 billion plus. In January of this year, the Cryptocurrency reached its ATH of $0.25 per coin. The native token allows its users to secure TRX directly – without a middleman – by customers paying to access their content.
How It Works
To develop the internet and turn it into a decentralized project is a long and very arduous process. The introduction of Blockchain has assisted this greatly however there is still a long way to go. For the internet to become decentralized, there is a vast amount of steps to walk up and removing the middleman from the process is a tricky one.
The aim is to be able to provide storage for all forms of content whether video, music, photos or social media. The distributed facilities will use Blockchain as the foundation which will mean a lot more cost effective storage for Tron’s users. However, there is still some way to go. Tron is definitely moving forward though and is getting there slowly but surely.
As highlighted above, Tron is going in the right direction however because it is still such a young Cryptocurrency there are still elements missing that the older Cryptos now enjoy. For example, at the moment TRX has a very limited number of active dApps. However, these will come with time. On the other hand, Tron has proven that it can process over 2,000 transactions per second which is a lot better than either Bitcoin or Ethereum operating at 3-6 and 25 transactions per second respectively.
It will be exciting to see how Tron develops over the coming year and interesting to see whether it does actually reach that end goal.