TRON – The Full Guide About TRX Cryptocurrency
Starting the first week of 2018, the cryptocurrency market participants were surprised by the performance of various cryptocurrencies that are fairly cheap but ranks the top 10 in Coinmarketcap.com according to Total Values Market. Ripple (XRP) valued at only $ 3.09 per XRP is able to replace Ethereum (ETH) at 2nd place, then Cardano (ADA) worth $ 1.07 up from 15th place to 5th rank of 1,384 other crypto’s.
Some other cryptocurrencies like TRON, NEM, Stellar, and IOTA are also still priced under $ 5 per coin; but experienced tremendous growth. Call it TRON with TRX value unit that has recorded an increase of 136.99% during the last 24 hours (5 / January).
TRON made its journey debut in December 2017 at 22nd. Then at the end of 2017, TRON has been ranked 12th. In the early week of 2018, TRON once again shifted NEM, Litecoin (LTC), Stellar (XLM) and IOTA (IOT), to the 6th position until the time of writing.
TRON (TRX) is currently trading around $ 0.27, with a total market valuation of $ 18.3 billion. In addition, TRON coin circulation is still around 65.7 billion pieces from a maximum of 100 billion pieces. That is, there is still a chance of price increase or a drastic decrease that can be experienced by this crypto.
When viewed from the data Coinranking.com, TRON movement from early 2017 until now has increased by 12,884.37%. The decline (correction) occurs only around the end of November to Mid-December 2017, other than that only a sharp increase experienced by this cryptocurrency.
Then, the question now is, what is TRON? and why its growth in value is only dominated by a sharp rise trend?
What is TRON?
According to Tron. Network’s official website, TRON’s TRX value unit is a blockchain-based decentralized protocol that focuses solely on the goal of building a worldwide free content entertainment ecosystem, with blockchain and distributed storage technologies.
This protocol allows each user to freely publish, store and have data in a decentralized autonomous form. Another feature is that users can define distribution, subscription, and enable content creators to release, distribute and handle their digital assets in Peer-to-Peer, thus forming a decentralized entertainment ecosystem.
History of Creation TRON
Justin Sun is the creator of the platform as well as TRON’s cryptocurrency. Justin entered into the ranks of the richest people in the world under the age of 30 years for 3 times in a row from 2015 to 2017. He is a graduate of Hupan University of China and was CEO of Jack Ma’s company, Alibaba.com.
In addition, Justin Sun has worked as Chief Representative and Advisor of Ripple Labs China from 2013 to January 2016. In the middle of his busy life, Justin even made an application called PEIWO (Callme APP), one of the most popular Live Streaming apps in China currently.
It was not until the end of 2016 that Justin began to focus on making use of his work experience by creating a decentralized platform that could be used for entertainment purposes. Finally, on September 26, 2017, ICO TRON was officially launched with full integration of PEIWO, so that all creative creators can easily distribute or sell their work with P2P systems, without any intermediaries from the TRON platform itself.
From the beginning, Justin Sun and his team believe that blockchain protocols can not only be used as a means of making profits for small groups. The TRON Foundation is then established on a non-profit basis with the principle of transparency from all parties.
Finally, the Tron Foundation was established with the approval of the Accounting and Corporate Regulatory Authority (ACRA) under the supervision and regulations of Singapore Corporate Law.
Singapore is considered the best place for the Tron Foundation where its financial environment is highly stable and well established. As a not-for-profit entity established in Singapore, the Tron Foundation is a legal entity that has no commercial interest and is not involved in activities for public or private gain.
The “profits” obtained by the foundation are considered surplus and will be maintained for the organization and implementation of activities and some other agendas.
Core Value of TRON Design
At the beginning of its design, TRON was created with the following core values:
- Date Creators. The date of account creation will be the key to ownership.
- Equitable profit sharing. Everyone who contributes to the TRON ecosystem is entitled to proportional benefits according to the rules.
- All contributions form in value quantitatively. Substantially, the time invested to create great content will get its own appreciation of the core TRON platform.
- TRON aims to provide services to the public. As an ecology operated by a non-profit foundation, TRON is designed to serve people who enjoy content entertainment from around the world. Not to get big profits, but all TRON participants will benefit equally from the results of his efforts.
TRON’s Decentralized Content Protocol Characteristics
As a decentralized entertainment content protocol, TRON has the following characteristics:
- Data Liberation. The data uploaded to the TRON platform is free and uncontrollable. Meaning all characters, images, audio, and video can be edited, stored, freely distributed.
2. Giving Rewards. Digital assets will be obtained through the provision and dissemination of content, so that the ecology of creative content will be stimulated economically. This concept is almost like Youtube, but different in terms of Rewards provided.
3. Personal ICO. Individuals may freely distribute digital assets in the form of ICO (Initial Coin Offering), while others may enjoy the benefits and services resulting from continuing data contributor by purchasing digital assets.
4. Infrastructure. Distributed digital assets will be equipped with a complete decentralized infrastructure. Even later various game developers can participate in the TRON platform.
Travel Value TRON (TRX)
First released, 1 TRX is only valued at $ 0.01 or even less than that. Then over time, the price starts to increase up to about $ 0.04 level. However, consolidation then occurs within 1 full month. This is because TRON has an excess supply, and its functions and benefits are not yet widely known.
Only from the beginning of 2018, precisely starting January 3, 2018, TRX adoption began mushrooming. People are starting to flock to find “cheap” investment alternatives and have high rising opportunities, with sufficient benefits. Finally, TRON adoption occurs massively and causes prices to rise from around $ 0.06 to $ 0.20 in just 3 days. That is, the average growth rate of TRX during the last 3 days is 100% a day.