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TRON is one of the newer cryptocurrencies on the market. Its Initial Coin Offering (ICO) took place on September 9, 2017.
It is a blockchain coin centered around the industry of entertainment. As we’re seeing with many new coins, each is identifying itself with a specific niche. TRON is posturing itself to be decentralized app coin, which means it’s not competing against Bitcoin (or any of the other major digital currencies) to be a central coin in the world of finance. It has blockchain smart contract compatibility which makes it a sort of framework for content sharing and app development.
The coin launched worth about 5:1 per US cent. Since then it has soared upward of $0.07 – 0.15 per. Though it’s had some bumps along the way, it’s early price is a product of a lot of enthusiasm and hope. This doesn’t mean that this coin possesses nothing but hype. Quite opposite, the future vision for TRON is very bold and revolutionary! (see Future Vision section below).
Shortly after TRON was made publicly tradable, a game released called Pet’s Planet (Click to read more about it). People can buy “cryptodoggies” for about 200TRX each or they can buy a virtual pet store for 20,000TRX. This game serves almost like a prototype for how TRON can be used in other games and applications. Do not think of Pet’s Planet as the only use for TRON.
Not just limited to pet stores, TRON is posturing to be a digital content payment system in the entertainment industry. It seems a bit vague, but I’d imagine TRON being used to purchase movies, games, apps, and more. If this coin becomes the primary token of the online entertainment industry, then it has tremendous potential. You may already know how much money is spent on entertainment. There are also very few options when it comes to paying for entertainment – each of these options has exorbitant fees as well. TRON seeks to decentralize entertainment funding.
Tron’s Future Vision – a Decentralized Internet that Rewards its Users
(Updated Jan 2018) On a live streaming session to his viewers, Justin unveiled his plan for TRON throughout the next few years. He envisions a decentralized internet in which every content creator is rewarded for their contribution. Right now, the monopolies such as Facebook, Instagram, Twitter, etc. all collect the profits that their users generate. Very rarely are the users rewarded for contributing. In fact, technically these entities own what you publish. You put in all of that hard work and get nothing in return! TRON seeks to fix this. If this type of decentralized internet comes to be… TRON would obviously have such incredible value. Will this internet replace the one we know and love today? That’s not certain. I’m wondering if the new TRON (inTRONet?) would be a separate platform of web applications where content creators (articles, videos, images, music, etc) go to publish their content but still use the internet of today as a way to use websites like Facebook and Instagram.
What is TRON? Should I Invest in TRX?
As of writing, I’d say the coin is still very new. It’s currently #14 on Coin Market Cap. That means it has a lot of growth potential. For example, it would take Ripple (as of writing) $138B USD to double in price; TRON would only take an investment of about $12M total. Therefore, I’d consider reading my Guide to Investing in Cryptocurrency and check into getting a Binance Account.
Power of Penny Stocks… er, coins
Much like Penny Stocks in Wall Street, TRON is one of the hundreds of new coins. Its initial success says it’s getting positive momentum, and it has a bright outlook. as of writing, this seems to be one of the best investment opportunities. It doesn’t take as much for this coin to go up 10-30% ($1.2-3.8B respectively) and the coin isn’t even on major exchanges yet which would increase its value even more.
Remember, all investments pose risk. DO your research and only invest what is comfortable.