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:
- 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.
- 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.
- Great Voyage: This phase would deal with a significant number of issues like dividend management, income payment, and the management of the devoted supporters.
- 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.
- 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.
- 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.
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.
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.
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.
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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.
Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
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