Tron is one of the fastest-growing cryptos in the world right now. It is an innovative crypto as it wants to build a platform supported by distributed storage technology that enables content sharing easily. It can be bought and sold with the leading cryptocurrencies and fiat currencies such as USD and Euro. It has three different types of tokens namely TRX (Tronix), TP (TRON Power), and TRC20.
Tron has a lot of Dapps working in different industries such as entertainment, gaming, and gambling. It wants to challenge the status quo where big technology giants such as Facebook, Google, and YouTube which totally controls and distributes the content created by its users.
The Benefits Rendered by Tron Dapps Development
- It has a high throughput and can process transactions faster than the likes of popular networks such as Bitcoin and Ethereum.
- The smart contracts are highly robust and completely secure as they are written in Java. It ensures decentralization, fast execution of operations and quick scalability.
- They are backed by some heavyweight investors, developers, and advisors.
- The content creators are rewarded with digital assets for every upload they make on the platform.
- It can draw a huge user base in the future as it has planned interaction with various social networks and online gaming applications.
- The superior technical solutions presented by the TRON project can significantly contribute to its capabilities of seamless interaction with the decentralized applications.
- Its USP lies in the fact that there is a lack of a unified data transmission mechanism and a common storage centre which it seeks to establish through decentralization.
An Overview of the Price Trends Observed in Tron
From making its debut at exchanges in September 2017, Tron reached its all-time high of $0.172 in January 2018, Tron crashed to a low of $0.0215 in August 2019.
As of today, its market price is hovering around $0.026 with a market capitalization of $1,902, 806,804. The price of Tron is expected to recover in the foreseeable future due to a huge number of decentralized apps being launched on its platform recently. It also acquired BitTorrent, a popular peer to peer file sharing application which could assist in the mass adoption of Tron. They have also created a token for torrents to disrupt the market named BitTorrent (BTT) launched by the BitTorrent foundation in early 2019.
Tron Dapps Price Prediction in the Future
It is currently ranked at the 16th position in Coinmarketcap. It needs to ensure that it is not just a short phenomenon but become a long-playing project to fully demonstrate its strength. Last month, TRON hit 10 million users. It has more than 660 Dapps on its platform. Tron is expected to hit a price of $0.636 by December 2020 and may touch $1 when 2021 starts.
As more and more organizations integrate the use of blockchain technology into their operations, Tron will witness more acceptance. It is also accepted on Samsung’s Blockchain Keystore which further boosted its legitimacy. It is a small player in the market with just a 0.52% market share. It is very far from reaching a price of $1. It has also launched an exclusive TRX staking program where users receive attractive rewards by participating in trading competition activities on the platform. If the crypto market stabilizes soon, TRON can rise from its current level of $0.020 and can hit $0.050 soon.
Factors That Will Determine the Price of Tron in the Years to Come
Tron has been surrounded by a lot of controversy and rumours ever since its launch. They were accused of plagiarizing their whitepaper. The founder of Tron Justin Sun was wrongly alleged of selling close to six billion tokens from his own share. This triggered a massive drop in the price of Tron.
Since they have a 10-year-long roadmap, there is a lack of clarity regarding how the team is going to achieve all its goals. Its co-founder and Chief Technology Officer, Lucien Chen also openly criticized the project for being too centralized in its approach.
Tron could prove to be a readymade solution for the growing entertainment industry for transferring business processes directly to the blockchain network to enable a distributed database.
While it is often subject to hate in the market for its founder’s controversial PR schemes, this is because TRON firmly believes that any press is good press. The more use cases and higher the demand for TRON, the more it will cost in the future.