TRON is recognized as one of the largest blockchain platforms in the world. The company began operations in September of 2017 in the hands of who is now CEO of the same, Justin Sun. Its objective: to build a global ecosystem, free, with a dynamic entertainment proposal in which creators have the ability to own, store and publish their contents with complete freedom and without any charge. TRON encourages its employees to interact directly with consumers through a decentralized network of issuance, circulation and commercialization of digital assets.
The native token of the platform is called Tronix (TRX) and consumers of online entertainment can use it to pay for the content they want to access on the Tron network. TXR is available for purchase in exchanges such as Bittrex, Binance, HitBTC, OKEx and others. Since its inception in 2017, TRON has been the protagonist of a large number of controversies. With all that, it still has a positive impact on the ecosystem of the block chains. In the following lines we will make a brief tour of the past and present of this blockchain, also anticipating us a bit about its future.
TRON, a turbulent past
TRON was launched in 2017 by the current CEO, Justin Sun, who previously held the position of Representative and Advisor to Ripple in Asia. Sun is also the founder of one of the most important live streaming applications in China, known as Peiwo, which they compare to the well-known Snapchat.
The decentralized platform of TRON aims to eliminate the intermediaries that exist between the content creators and their consumers, promoting that ownership of the data is once again under the control of the person who prepares the content. This is achieved through the use of high-performance smart contracts aimed at the Internet, Media and Entertainment markets around the world. TRON also serves as an excellent social media platform, by allowing users to freely exchange thoughts, ideas, media without the involvement of third parties.
This blockchain initiative has made alliances with some organizations through mergers and acquisitions, greatly enhancing their development and, mainly, attracting more investors. One of the most talked about moves of TRON was the purchase of BitTorrent, for which the company had to disburse some US $ 140 million. With this operation, Sun’s platform managed to build the bridge towards the almost 170 million monthly users that go through the well-known P2P file exchange system.
TRON has been the subject of intense criticism since its launch. At the beginning of January 2018, the company was criticized for plagiarism in its whitepaper, which appeared in translations into English, Spanish and Russian. In the technical document there were very direct references to those found in the proposals of the Filecoin and IFPS projects. The similarity of the material was such that Vitalik Buterin, co-founder of Ethereum, pointed out the plagiarism by means of his Twitter account on April 6, 2018. However, CEO Justin Sun ignored them, minimizing the issue in a comment by the same social network, where he said that the whole issue was due to translation deficiencies.
Now, between the first ten crypts
At present (March 2019, second half), TRON is ranked tenth in market capitalization, according to the CoinMarketCap classification. Your Tronix token (TRX) shows a price close to US $ 0.023. On March 8, Sun bragged in his Twitter account that the volume of TRX transactions exceeded those of Ethereum and EOS added. Daily blockchain transactions in TRX were around 44 million, with Ethereum with 11.6 million and EOS with 4.4 million transactions.
This was mainly attributed to the exit of the mainnet and the acquisition of BitTorrent in 2018. Other factors that have played an important role in the progress of the TRX price are:
– Update of the TRON network
– Integration to the Coinpayments platform
– Expectation about the launch of the TRON Virtual Machine (TVM).
– Exponential growth of transactions and volume of dApps in TRON
Update of the TRON network
TRON has recently carried out successful updates (hardforks) with the aim of preparing its network system for institutional use. These hard bifurcations have integrated new features in the chain, such as
management of accounts and the capacity for multiple signing, which are of vital importance for institutional operations. The frequent updates of TRON are designed to maintain and improve the performance of the entire network, thus avoiding potential scalability problems. We must not lose sight of the numerous mergers and acquisitions of TRON, in addition to the large number of dApps that are hosted on the platform.
Through a tweet, Justin Sun confirmed that the new features of the update would include the management of multiple signatures and accounts, the dynamic adjustment of energy to real-time performance, the best security of the TRON Virtual Machine and the event server. for dApps and a 50% improvement over the current level of performance. The upgrade of multiple signatures and account management will provide greater security for the transactions in the block chain, while the dynamic energy management system will improve its efficiency and optimize the net performance of the network.
Integration with the Coinpayments platform
TRON now also forms part of the Coinpayments platform, a payment processor that allows coin holders to use the same commercially. With more than 2 million international affiliated establishments, the addition of TRX in the platform will increase the use capacity of the TRX token, creating a greater demand for investors, buyers and Internet users to acquire it.
Surely, a higher demand for TRX will have a positive effect on its value. The incorporation of TRON to the Coinpayments platform gives it a clear competitive advantage that will allow it to continue climbing to better positions among the 20 main cryptocurrencies.
The expected release of the TRON Virtual Machine
The enthusiastic users and investors of TRON, but above all the developers, wait for the day when the Virtual Machine of Tron (MVT) comes out permanently. With the virtual machine, the developers will have a native environment to experiment with new applications, they can run dApps based on ETH, as well as expand their transactions per second (TPS). The increase in the speed of transactions should give TRON another important competitive advantage and allow it to demonstrate to investors that the MVT of the network can be up to Ethereum’s own intelligent contracts.
Volume and transactions of dApp upwards
The huge growth in the TRON transaction volume has been attributed to users who have spent close to US $ 31 million in dApps. This amount is close to double the value invested in distributed applications developed in other networks, including EOS and Ethereum.
It is inevitable that there will be such growth in TRON’s transaction volume, especially with the platform’s plans to add close to 2,000 dApps in the course of this year. This is 10 times more than the distributed applications currently available. A recent report from DappReview stated that, currently, TRON’s distributed applications are taking over the sector.
What comes for TRON
The unique infrastructure of TRON makes it the ideal platform for a wide range of applications in the entertainment and gaming sector. This point is what distinguishes it from other block chains within the competing universe of cryptocurrencies and blockchain.
The TRON features that facilitate charge-free transactions, coupled with a congestion-proof design, make it ideal for the gaming and entertainment industry, one of the digital sectors that continuously enjoys a large volume of traffic. The cropBytes application has already been released online and for the first quarter of this year plans to take advantage of the full potential of TRON to spread the game. This dApp is like the monopoly game taken to the agricultural and livestock sector. The user can buy land, develop farms, harvest and raise animals until they can establish a profitable and prosperous business.
Controversially or not, when the winter of the crypto happens and the panorama begins to look better, TRON will be, without a doubt, one of the platforms that will emerge like no other in the ecosystem of the block chains. He has what it takes and is completely focused on achieving it.