Should I Buy TRON (TRX)? Is TRON (TRX) a Good Investment?
Being an ERC-20 token, the TRON platform is hosted on the Ethereum network. However, that will soon be history as it prepares to migrate after the upcoming Mainnet launch on 31st May 2018. Should you really buy TRX now? The outlook of TRON (TRX) is definitely looking bright for the years to come. If one asks if TRX a good investment, it should be one of your investment portfolios.
Disclaimer: This content is provided as general information only and should not be taken as investment advice. The opinions expressed in this article are the personal opinions of the author at the time of publication.
Should I Buy TRON (TRX)?
What is TRON?
TRON is designed to ‘heal the internet’ globally by creating a free content entertainment system. It is designed to make the payment, storage, development and credit sharing easy for entertainment enthusiasts.
TRONIX is the cryptocurrency which runs TRON. This crypto is the one which is being used for the service of a distributed economy. There is a ‘Smart Contract Protocol’ in TRON and which enables the users to easily access the features of the crypto. This protocol allows users to publish, store and own data freely. It also allows the users to enjoy ownership rights to their content and decide what, when and how to share it.
TRON’s open, decentralized platform and distributed storage technology will allow creators of digital content to cut out middlemen such as the Apple store and Google play store. Content producers will thus be able to obtain funds directly from consumers.
Currently, a lot of user data and traffic is controlled by a few corporations like Google, Facebook, Amazon, & Snapchat. TRON attempts to mitigate this control by placing ownership of the data back into the creator’s hands.
Key features of TRON
TRON wants to “Heal the Internet” through the following features:
- Data liberation: free and uncontrolled data
- Enabling content ecosystem where users can obtain digital assets from content spreading
- Personal ICO with the ability to distribute digital assets
- Infrastructure to allow distributed digital assets exchange (such as games) and market forecasting.
Why Should I Buy TRON (TRX)?
TRON (TRX) is doing that is synonymous with all successful behemoths and business magnets around the world. It is what has brought success to all those big tech companies that dominate their space at the moment.
The one thing that almost always comes out of such efforts is a success and eventually, huge returns to those invested in the company. And for TRON investors and hodlers, what this means is that the party might just have started.
Justin and his team already have partnered with Peiwo (10 million users), Gifto (20 million users), OBikeInc (10 million users), Mico (100 millions users) and Kitty Live (20 million users). 160 million users will get access to TRON and the TRXtoken.
That simply means the value will continually rise as more users join these services. In addition, China love their technology and Tron will be integrated slowly into as many technologies as possible.
It should be noted that there are many angles to achieving this, and TRON is already way ahead in some of the areas.
Is TRON (TRX) a Good Investment?
According to Justin Sun, the shortcomings of Ethereum forced Tron to develop its native platform.
Sun’s ambition for Tron is clear with his statement on the launch event of Tron’s test net. He said: “From today to the last day, we are no longer the ERC20 token and in the future, we will compete with Ethereum as a DApp platform.”
TRON’s network is designed to encapsulate and improve upon the modern digital and entertainment industry while providing an underlying cryptocurrency and technology to spark new enterprise. If any cryptocurrency is poised to pave the way for innovation, it’s Justin Sun and the TRON Foundation’s token.
With the Test Net launch and rise of TRON’s Main Net, TRX (the underlying cryptocurrency used to power TRON’s network) is already one of the top currencies in terms of usability.
TRON is definitely a good investment for a long-term prospect as TRX has a few technological advantages such as
- Built for scale. TRON’s network is capable of handling 1000+ transactions per second, with the ability to grow even larger over time. Compare that to Ethereum, which at present, has a tps of 25. It is a dedication to friction-less transactions. Each transaction on the Tron blockchain requires an utterly negligible amount of TRX. A single USD worth of TRX can facilitate millions of transactions.
- Essentially free transactions. The cost of conducting a TRON transaction is 0.00001 TRX, which means an entire lifetime of TRON network payments can be made for the cost of a single TRX token. Ethereum has averaged transaction fees in the 0.40 – 0.60 USD range, hitting a peak of 4.15 USD (!) per transaction in early January.
- Coin burn and increased liquidity. At present, Ethereum has no hard cap on the max supply of ETH, with the idea that inflation over time can be used to the benefit of developers and Ethereum market commerce. TRON has higher liquidity through its 100 billion coin supply, giving TRX a more ubiquitous presence on a platform as big as what TRON is intending.
What is the main benefit of having its own blockchain? You can simplify it by saying it will give TRX an opportunity to expand its utility use. The Exodus launch will open doors for TRON to host token projects and TRX to gain further use of the blockchain.
In the future, with mass public adoption, the Lightning Network may be insufficient. Ethereum finds itself in a similar place, with the proliferation of ERC20 tokens bogging down the platform. Tron’s consensus algorithm allows for thousands of transactions per second – critical for large-scale applications.
The main net will be a full-featured product. If the Odyssey phase can succeed in attracting a support base of content creators, then Tron’s main net will have the potential to rival some of the largest traditional media concerns on the Internet.