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Content creation is slowly becoming one of the biggest industries in the world. The creator economy is projected to hit a market value of $104.2B in 2022. But there is still one problem. Content creation is still heavily dependent on powerful intermediaries like Google, Meta, TikTok, etc. Of course, this would not have been a coin guide if we did not discuss its solution. We are hereby introducing you to Tron.
Tron is a multi-purpose blockchain platform with its native token TRX. It focuses on becoming a platform that allows users to create and share content and sell it directly to the consumer without the need for big media intermediaries.
Since Tron is all about giving content creators their freedom, they have become known for a CEO that is a controversial crypto celebrity. From a vibrant Twitter profile with some controversial Tweets where he even mentions Elon Musk to a multi-million $ worth dinner with Warren Buffet, he does everything he can to promote Tron.
TRX is a native token of a Tron network. It is used mainly for paying transaction fees on the network and as a reward for content creators on the Tron platform.
At the time of writing (May 16th, 2022), TRX’s price is $0.06. The current Market Cap ranking is #14, with a market cap of $6.7B.
TRX had a good previous year where it followed a nice bull run at the start of the year reaching a price of $0.16. However, this bull run was still not enough to help it break its all-time high price of $0.22. After the bull run, the price had constant swings of going up and down before being pressed down with the market correction of 2022.
Since its inception, TRON has had an Average Growth Rate of 185.4%
Tron had an initial supply of 100 billion tokens. In addition to having an initial token distribution, they did a 1 Billion token burn when the network launched in celebration and called it “Independence Day.”
The initial token distribution went as follows:
The current circulating supply is 98.1B tokens.
The primary way people buy their TRX is through centralized exchanges because they offer the ability to purchase them with credit\debit cards, which most people prefer.
Although significantly more complicated, the second way is through decentralized exchanges such as Uniswap. Decentralized exchanges usually require users to already have some cryptocurrencies in their wallets to buy other cryptos.
Finally, it can be purchased easily through a broker app such as our Veli App, where you can get your hands on some TRX in just a few taps on the screen.
In early 2017, the CEO of TRON, Justin Sun, officially launched the Singapore-based non-profit organization known today as the TRON Foundation.
Sun, for example, is no stranger to the FinTech industry. For starters, he is Alibaba founder Jack Ma’s protégé. He graduated from Ma’s Hupan University and was named to Forbes’ “China 30 under 30” and “Asia 30 under 30” lists within months. Keenly, before the introduction of TRON, Sun had already made a name for himself in the blockchain sector.
Other team members include Marcus Zhao – Head of Public Chain, a former Alibaba chief data mining expert; Cong Li – Head of Developer Community Division; Chengchang Ren – Team Lead – Public Chain.
The original TRON whitepaper set a 10-year roadmap for the project. TRON is almost halfway through this roadmap and, as of April 2021, is currently in the “Great Voyage” era of development. In this phase, TRON focuses on creating the opportunities to launch ICOs on Tron.
Tron has one of the biggest communities number-wise in the crypto industry. They are present on every social media channel and even have multiple profiles on Twitter and Telegram for multiple countries.
The TRON Foundation raised $70 million in 2017 through an initial coin offering shortly before China outlawed digital tokens.
Mutual Coin Capital and SEED Venture Capital are Venture Capitalist investors in Tron.
Tron Foundation has also launched a $300M fund called the Tron Arcade that will invest in play-to-earn projects over the next three years.
Tron has had some legal issues in the form of accusations that they copied multiple protocols on their network but failed to mention them in the whitepaper. However, this did not impact Tron’s further price or development.
Tron’s biggest competitors are Solana and Ethereum.
Ethereum is the world’s first general-purpose blockchain. The main disparities between Tron and Ethereum are that Tron is much faster and cheaper than the current version of Ethereum and its primary focus is on decentralizing content creation.
Solana is a high-speed blockchain network that focuses on providing a network that can scale with the incoming onboarding of new users to blockchain and crypto. Distinctions between Tron and Solana are that Solana is much faster and cheaper than Tron, but to achieve that, it sacrifices some of its decentralization.
Here are some additional numbers to better illustrate this competition.
TRON | Solana | Ethereum | |
Transactions per second | 2,000 | 50,000 | 15 |
Time needed to confirm a transaction | 2-5s | 13s | 6 min |
Average transaction fee | <0.1$ | 0.00025 | 15$ |
Market cap | $7.97b | $29.14b | $310b |
Circulation supply | No limit on the number of tokens | No limit on the number of tokens | No limit on the number of tokens |
Total number of wallet addresses | 90m | 2m+ | 150.6m |
Total number of daily active users | 1.3m | 195k | 509k |
Launch date | 2017 | 2020 | 2015 |
Average growth rate | 182.00% | 340.60% | 178.20% |
When it comes to investing, there are obvious risks, just as there are with any other asset type. Because there are so many types of cryptocurrencies, risks may be divided into two categories: generic risks that apply to all cryptocurrencies and coin-specific risks.
We’ve put up a guide that covers broad cryptocurrency investment risks and provides advice on how to reduce them, while risks related to individual assets are handled specifically in coin guides such as this one.
Website: https://tron.network/
Twitter: https://twitter.com/justinsuntron
Telegram: https://t.me/tronnetworkEN
Tron is a network that focuses on decentralizing content creation. It was created in 2018 by a controversial crypto celebrity, Justin Sun.
It follows a 10-year roadmap, and currently, they have completed half of it, with the following main focus being to allow projects to launch ICOs on the platform. Tron has also raised a $300M fund to invest in play-to-earn projects over the next few years.
They have a slightly dented reputation regarding their protocol and have been subjected to some hacker attacks in the past. We will wait and see how they progress in the future.
