What Is Tron and Why Is It Popular?
If you’re into cryptocurrencies and blockchain technology, chances are that you’ve already heard about Tron.
16:23 06 January 2020
What makes this coin special is the project it backs up — it has the potential to become the next Ethereum. Let’s take a closer look at both the project and the coin. Read on!
Justin Sun’s Digital Content Idea
Justin Sun is a Chinese entrepreneur who created Tron as a decentralised blockchain-based platform. His aim was for the platform to focus on the distribution of digital content without the need for middlemen. Developers can use Tron to work on various dapps that will further contribute to the idea of a free and global system for sharing content.
The platform itself is fairly new — it was created in 2017. In fact, it is not even completed yet, as its whitepaper offered a quite lengthy timeline with all the things the Tron team plans to do in order to complete the project. However, what makes Tron really special is the Tron coin (TRX) that attracted many investors, so let’s find out more about it.
Tron Coin — What’s All the Fuss About?
Although TRX is nowhere near Bitcoin when it comes to the overall popularity of the coin, it’s still doing pretty well. When you take a look at the current state of affairs on the top list of cryptocurrencies, you’ll notice that Tron needs a small push to make it to the top ten cryptos with the highest market cap.
If you ask crypto enthusiasts, many of them will tell you that Tron is getting increasingly popular. However, people who are not part of the crypto sphere aren’t really aware of the potential that this coin could bring in the future.
Yet, the future is never certain when it comes to cryptocurrencies, as most of them are quite volatile at the moment, including Tron. TRX aims to hit its first billion in market cap, which is nothing compared to Bitcoin that’s worth $134 billion. However, it’s a good start and there’s a lot of room for improvement.
Tron’s Not the Only Promising Coin
Although Tron has been one of the most discussed projects lately, it’s certainly not the only promising one in the world of cryptocurrencies. In fact, crypto traders and investors are always looking for opportunities to make more money, and one of the coins closely related to Tron is Ripple.
You can read more about Ripple (XRP) and see what the fuss is about. Here’s a hint: Justin Sun used to work for Ripple before founding Tron.
The Chinese company is working hard to improve their product and increase the popularity of Tron cryptocurrency. Utilising some suspicious marketing strategies, Justin Sun managed to create the needed hype for his work. His eccentric approach to promoting Tron could either be a firm basis for further work or Tron’s ultimate demise. Only time will tell whether Sun’s strategy was a success.