The next Bitcoin – The world of cryptocurrencies is a fast-paced one – new events take place on a daily basis. These events affect the prices of coins and create new opportunities for crypto investors and traders.
Coins rise and fall, receiving more or less attention, as the crypto market evolves and becomes more competitive. One of the coins that have received a lot of attention recently and managed to emerge from the sea of altcoins is the Tron coin (TRX). Also have a look at bitcoin loophole.
People are quite loud about it. Crypto enthusiasts are divided when discussing the future of this cryptocurrency. Some claim it has no future at all, while others are almost certain Tron will be big – even bigger than Bitcoin.
But is such a scenario really possible? Could Tron overthrow the ultimate ruler of the cryptocurrency kingdom or will it become just another altcoin among hundreds of unsuccessful ones?
What Is Tron?
Essentially, Tron is not a coin but rather a decentralised platform based on blockchain technology, just like Ethereum. The coin is just a product of creating one such platform, and, as such, it is available for purchase on various online cryptocurrency exchange platforms. But what does the Tron platform do? What is its purpose? How is it different from Ethereum?
Sun’s original idea was to create a platform that would facilitate the distribution and sharing of digital content. To explain it clearly, let’s take Netflix as an example.
Creators of video content on Netflix get only a share of what users pay to see their work. In other words, Netflix works as a middleman between consumers and content creators. Being a peer-to-peer system that would connect consumers to creators directly, Tron’s final aim is to eliminate the need for middlemen.
That way, consumers would pay less for the content they want and creators would receive more money for their work, which would enable them to provide better content overall.
However, as time goes by, Tron seems to broaden its horizons, letting developers create dapps of all kinds, including games.
Although there’s a lot of hype around Tron, it’s safe to conclude that it’s a fairly new project since it was founded in 2017. Moreover, there’s still a lot of work to be done on the network in order to perfect it, and Tron is far from perfect. Nevertheless, its developers are working hard on making it better and promoting it to all blockchain and crypto enthusiasts.
The work done on Tron is evident thanks to the price of the Tron coin that has been doing pretty well lately and is currently located on the 11th place of the total market cap crypto list.
Tron is just one type of digital coin
Tron is getting more popular nowadays, but it’s not the only altcoin that has attracted investors from all over the world. In fact, one of the predecessors to Tron is Ripple, and XRP seems to be doing rather well at the moment.
If you’re not familiar with this cryptocurrency, you can read all about Ripple/XRP crypto and see what all the hype is about. Basically, Ripple and Tron are often connected as Tron’s founder Justin Sun used to work for Ripple back in the day.
Conclusion: Future is uncertain
Neither Ripple nor Tron is anywhere close to the popularity of Bitcoin or Ethereum. Therefore, it’s rather difficult to make any kind of prediction about Tron at the moment as all options are possible.
Tron’s marketing practices could either skyrocket its popularity or slide it into oblivion. All you can do as a potential investor or crypto trader is follow the latest news about this cryptocurrency and the project it backs up and act accordingly.