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TRON: A Prospect for the Future Cryptocurrency Market

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Tron

Introduction:

Despite the unbridled craze for Bitcoin nowadays, a considerable number of altcoins are making their way in the world of digital currency as well. Apart from the more familiar altcoin names like Ethereum, Monero, Ripple, Dash, etc, a lot of ICOs (Initial Coin Offerings) had been converted into legitimate cryptocurrencies in the previous year of 2017. TRON, a decentralized blockchain-based protocol, is one of the most widely used and effective cryptocurrencies among those recently converted cryptocurrencies.

TRON is basically a blockchain based protocol that is designed for the digital entertainment industry and offers a decentralized platform capable of providing various entertainment contents by leveraging a combination of blockchain and peer-to-peer (P2P) technology.

TRX, the official cryptocurrency of TRON, aims to curtail the unmitigated control of a certain number of organizations like Google, Amazon, etc over the internet by handing the ownership of the data pool to the user. Here, a few aspects of this new cryptocurrency and its surmised future will be discussed.

Conversion from ICO to Cryptocurrency:

TRON came into the market as an ICO on September 9, 2017. An ICO or initial coin offering refers to an unregulated means of raising money for a new cryptocurrency venture. After raising a gargantuan amount of 81 million USD in a matter of few days, the ICO of TRON got tokenized into a legitimate cryptocurrency by the end of 2017.

TRON’s Roadmap and Stages to Come:

The adroit and insightful developers of TRON have already excogitated a foolproof plan for this cryptocurrency. In the official roadmap for TRON, they have introduced a plan until 2027 concerning several different stages or phases. The first four stages are scheduled to end by the end of 2023 whereas the last two would take until 2017 to get completed. The concerning stages are:

  1. Exodus: TRON is currently in this phase. The main purpose of Exodus is to offer a free peer-to-peer platform for distributing and sharing content related to the entertainment industry.
  2. Odyssey: This stage of TRON is likely to follow the standard paradigm of a proof of stake cryptocurrency. Odyssey would put economic incentives in proper places so that the creators of entertainment content can be encouraged.
  3. Great Voyage: This phase would deal with a significant number of issues like dividend management, income payment, and the management of the devoted supporters.
  4. Apollo: The functionality of Apollo would be quite similar to its previous phase. Additionally, in this phase, TRON would be able to launch their personalized token that can be successfully used for decentralized trading. This phase is likely to end by 2023.
  5. Star Trek: This phase is quite similar to the technology used by a renowned gaming platform Augur. If the profitability of the current gaming market is an indication, then this phase is likely to secure a commendable market capitalization for TRON.
  6. Eternity: The last phase of TRON would provide the opportunity to the developers to create their own games and take part in the fundraising events.
Figure 1: TRON Roadmap Until 2027

Figure 1: TRON Roadmap Until 2027

Competitive Advantages of Using TRON:

Personal ICO: TRON would allow its users to start their own initial coin offerings by giving away digital assets individually.

Data liberation: TRON allows their users to have the fundamental ownership of various data and contents pertaining to the entertainment industry instead of seeking the assistance of middlemen like Google Play Store.

Gaming and forecast: As mentioned earlier, the last two phases of TRON are mainly focussed on the gaming industry and market forecast. Therefore, once the development of TRON is completed, it will help a significant number of investors to make money in the gaming industry and predict future market scenario.

TRON Development Team and Its Contribution:

TRON’s development team works under their CEO, Jackson Sun, the former chief representative in greater China of Ripple. Recently, Justin Sun announced the inclusion of the top Alibaba executives to TRON’s development team. The China office of TRON currently contains more than 100 employees.

Partnerships:

Right at the beginning of this year, TRON partnered with oBike and helped them to launch their own cryptocurrency known as oCoin. Besides this, TRON is also in partnership with Baofeng and Game.com.

The Current Market Scenario:

TRON currently holds the 15th position in terms of market capitalization which is commendable considering its overall duration in the cryptocurrency market. The total market cap of TRON is nearly 2.8 billion USD (as of 22nd February 2018) with a value of TRX token equivalent to 0.042 USD apiece.

Figure 2: TRON Chart on 22nd February

Figure 2: TRON Chart on 22nd February

TRON’s Future:

It is a well-known fact that the nature of cryptocurrency market as a whole is extremely volatile. Hence, there is no possible way to pinpoint the future of a certain cryptocurrency. However, as far as the speculations are concerned, TRON seems to have a fairly prosperous future ahead. If the six phases of this coin can be executed with utmost success, this digital currency is likely to make inroads in terms of market capitalization as well as usage. Also, the entertainment industry is constantly growing and as the functionality of TRON is cognate to this very industry, this cryptocurrency is likely to become even more reliable and useful to numerous investors across the globe.

We will be updating our subscribers as soon as we know more. For the latest updates on TRON, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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