Cryptocurrency Investment Overall Score: B
Growth Potential: A+
Sustainability Score: B+
Brains Behind Currency: B+
What is TRON?
Despite sharing a name with a popular Disney Channel Movie, what does TRON
(TRX) do in the crypto currency market? It aims to achieve a decentralized currency for entertainment entities worldwide. Sorry ladies and gentlemen, it won’t be accompanied by neon lights and sweet futuristic AI motorcycles. That is, unless the rights of the movie are being sold digitally. TRON may be accompanied by steady gains and long-term usefulness if the technology and you as an investor play you card right.
TRON claims to have a decentralized and trustworthy cryptocurrency application that is empowered by smart contracts, much like its sister currency Ethereum. To date, at time of publication, the currency boaster over 400,000 users and a share price that has rapidly accelerated in value year over year. In terms of market cap rank, TRON is just outside of the top 10, ranking at #14 in terms of coin market cap.
The goal of TRON is to create a worldwide free content creation system that regulates itself by utilizing block chain technology and growth hacking. Distributed storage that is associated to block chain is also a primary offering of the coin. The goal of TRON is not unlike the goal of sister currency Po.et, who’s review can be found here. TRON’s strength is in it’s circulation. You will piggyback off of 400,000 users in the sense that your content will be distributed amongst block chain users to create ultimate security. I would not be surprised if TRON and po.et are placed head to head in terms of functionality. They may resemble HD DVD’s and BlueRay back in the day. Not many users remember HD DVD. It’s likely that one of these digital currencies will be forgotten as well.
TRON is based in Singapore. When you browse their website, the crypto coin organization claims to be “a nonprofit organization that mainly engages in operating the TRON network in the principles of openness, fairness and transparency and supporting TRON's development team.” In that fashion, I guess TRON isn’t all to unlike Litecoin, who’s CEO and founder withdrew his interest in the currency, except he did so when the currency had reached a top. His actions also reeked of stock manipulation as Litecoin now in 2018 has seen regular trading levels well below the $300 range in which it was sold. TRON couldn’t be different here and that’s one of the reasons it comes off as secure and decentralized.
TRON is also different from other cryptocurrency in that it continuously adheres to its “commandments” as a non-profit. On TRON's website you can read about how date creators, also known as the end user or customer, will have fundamental ownership over data. The internet is also meant to be decentralized in TRON’s eyes, which is integral to a stabilized and autonomous economy driven by botnet.
TRON also claims to be on the artists side, hoping that their project can reward the artists who create valuable pieces of fresh and relevant content each and every day. It is explicitly written that the content of TRON as a currency is not meant to serve the wants of corporations who sell them off for profits.
It goes on to proclaim that it is inspired by the works of Tim Berners-Lee. Some people are into this type of diction. I personally choose to stay away from it. If you’re into the Braveheart speeches of Cryptocurrency, then perhaps TRON is for you.
Justin Sun is the CEO of TRON. He graduated from the University of Pennsylvania. He is part of the 2017 Forbes 30 under 30 in Asia and is well recognized as a successful entrepreneur in the crypto coin space. He had investments in Ripple and founded the Peiwo App which is a main source of the currencies investment excitement. As of mid January, Justin Sun announced that his social currency App Peiwo would soon have direct hooks with TRON, giving it immediate access to over 10M registered everyday users. That could be quite the pump to the coin’s market capitalization and where it lies on the top 50 crypto list.
How to Buy:
For US based users, we recommend using an application like Binance to purchase TRON, but you will have to go through the process of depositing to coinbase first which can take a manner of days. If you have a friend who is into crypto currency, perhaps you could persuade them to transfer you some Ethereum, Bitcoin, Bitcoin Cash, or Litecoin. This can slim down the sometimes 5-7 day process that is depositing to Coinbase. Coinbase always takes cash or credit though, so take a look at depositing here.
Once you clear your local currency into crypto, you can transfer your crypto currency to another exchange like Binance that allows you to trade the entire list of crypto currency ICO’s. We highly recommend it. It’s a big world out there!