Cryptocurrencies are trending all over the world. The success stories from crypto investors are attracting more people to this new venture. This digital currency has captured the attention of the government, banking sector, investors, companies, and developers.
With the increasing demand, there are various altcoins in the market, but not all of them are worth investing in. With that said, we will discuss whether Tron, a new altcoin in the market, is worth investing in.
What is Tron?
TRON (TRX) is a cryptocurrency created to help create a decentralized internet. Just like other altcoins, it uses smart contracts that thrive in a blockchain. So far, Tron has stood out because of its fast speed of 2000 transactions per second. Moreover, it operates on zero transaction fees.
The main aim behind Trio was ushering in a decentralized internet. What is the difference between a decentralized internet and the internet we are using? You might wonder—decentralized internet operates without hosting companies, unlike centralized internet operated by personal users.
With decentralization, Tron hopes to give content creators full control and ownership over their content. This cryptocurrency has its main focus on the media and entertainment sectors. It is out to compete with Google, Apple, and other internet platforms, which offer their services at high fees. With Tron, content creators will be able to publish, store and own data for free.
History of Tron
The history of TRX goes back to 2017 when Justin Sun launched a company by the name TRON Foundation. He created the company to come up with infrastructure and tools for a decentralized internet.
Before becoming the CEO of TRON Foundation, Sun was working as a chief representative of Ripple. The networks created due to working in Ripple helped him bring the Tron dream to reality.
Additionally, he has appeared in Forbes’s top 30 under 30 list in China and Asia. Last but not least, he is the brain behind Peiwo, a live-streaming app with more than 10 million users. This tells you that he had built a name in the blockchain sector, which contributed to the reception of the Tron coin.
How Does TRX Tron Work?
Like other altcoins, you can purchase Tron using other cryptocurrencies. In addition, you can buy it from crypto exchanges like Kraken, Bit panda, easy crypto, or Binance using direct money.
The token of Tron is Tronix, designed to track the user’s behavior in the entertainment sector and share data with applications in the TRON network.
Is TRON (TRX) a Good Investment?
Compared to other cryptocurrencies, Tron has been performing very well. In a year, it has grown by 299.2%, which clearly shows a lot of potentials.
Some people are degrading Tron because it is a cheap cryptocurrency. However, it is wise to look at its growth and large market cap. Experts in the Cryptomarket believe that this coin has shown a lot of potentials so far, and it will continue to grow in the future.
With the increased use of technology and the continued popularity of dApps, taking a risk with Tron is worthwhile. However, as you decide to invest in this coin, do not ignore the cryptocurrency market’s volatility.