Tron is one of the most popular cryptocurrencies of 2018, the coin is currently trading at $0.022, during the bull run of late 2017, this promising altcoin had caught the eyes of many cryptocurrency enthusiasts driving its price to an All-Time High (ATH) of $0.22 about ten times the current price. Market sentiments solely drove the price, however, the cryptocurrency has made further progress, they are apparently in the process of building a new decentralised internet protocol that will eventually be followed by everyone on the planet. They claim to be the architects of this ambitious project.
Ethereum posted a record number of transactions on its network on 4th January 2018 with 1,349,890 in a day. This came during the bull market of 2017 which saw ATH of the entire market. Nevertheless, Tron has surpassed this record in a bear market. This is an impressive feat as it implies the growth of the network. Tron recorded 1,367,488 transactions on 9th November 2018.
The POPULAR CHOICE
Tron is priced at $0.023 is a popular choice of ‘Hodl’ among cryptocurrency enthusiasts. Twitter is the most popular social media platform alongside Reddit for cryptocurrency traders and innovators. The above bar graphs outline the public sentiment of the most popular cryptocurrencies in the market. Although it is an hourly graph, the coins plotted are indeed more popular than the others in recent times.
Tron is cheaper, faster and supports a more extensive network than its closest competitors; Ethereum and EOS. Ether and EOS tokens are priced at $215 and $5.45 at the time of writing.
The top three cryptocurrencies for hosting Dapps and decentralised transaction are Ethereum, EOS and Tron. The comprehensive comparison between Ethereum and EOS reveals that Ethereum has more space to grow technically to continue being the most popular platform for smart contract development.
JUSTIN SUN, the founder of Tron
Tron’s Sun recently claimed that the Tron network update would make Tron 200 times faster than Ethereum and 100 times cheaper than EOS. This audacious claim is backed by an impressive code which practically incorporates all the features of a cryptocurrency platform. He is an active user on Twitter with the handle @justinsuntron.
Justin Sun is a cryptocurrency programming prodigy like Vitalik Buterin, and he is proudly the first millennial graduate from the prestigious Hupan University founded by Jack Ma. Jack Ma is an internet billionaire and CEO and founder of Alibaba. Alibaba has filled 90 blockchain related patents in the past three years. The rumours of Tron getting added to the Alibaba Payment system also did the rounds after Sun’s graduation ceremony with Jack Ma.
Tron acquired BitTorrent for an undisclosed amount in July 2018. Two months after the acquisition Tron’s lead developer and founder Justin Sun announced the details of the covert ‘Project Atlas’.
BitTorrent and Tron with ‘Project Atlas’ aim to reward the seeders in cryptocurrency to improve and update the content sharing business. To facilitate the project, a custom token and a token economy that runs within the P2P client will be introduced. BitTorrent stated that all its 100 million users will be incorporated on the Tron’s decentralised internet protocol which would ensure seamless sharing of content with a trustworthy and growing payment system.
TERMS OF EXCHANGE
Currently, more than 40 popular exchanges and wallets over the world are supporting the Tron. Tron is being accepted by new exchanges faster than the others. Indacoin, a London (UK) based exchange and Bitebox recently added Tron as well.
Tron decentralised exchange is also live on the Tronscan built on the Tron Virtual Machine. A decentralised exchange has independent holdings of coins, as there is no third party having any authority over the spending of the funds. Decentralised exchanges are regarded as the next step towards true decentralisation as the current exchanges though deal in cryptocurrencies acts as custodians of the coins. This was responsible for the primary servers getting attacked by malicious programs as in case of Mt.Gox and other exchanges related heists.
NUMBERS SPEAK THE TRUTH
Tron community is expanding by the hour, although some people have already FOMO’d into buying the coin early this year, the optimism of growth for this cryptocurrency is strong. Tron is behind Ethereum and EOS in terms of total market capitalisation ranked 11th with a total market capitalisation of $1.5 billion. This is a big drawback as Ethereum is due for its update to the POS network, its total market capitalisation is above $10 billion, and EOS is ranked 6th at $5 billion. Nevertheless, with its technical ability and innovation, and the backing of a skilled team Tron is the obvious choice for future growth.