A new cryptocurrency or altcoin which is barely four months old – TRONIX (TRX) has taken everyone by surprise. As of December 5, 2017, its share price was $0.00215, and today it is at $0.27, with a jump of 12755%. TRONIX has beaten Litecoin and Ripple in the same period, and its capitalisation grown 6 times from $2.8 billion on January 1 to 18.7 billion today.
TRONIX is the coin of the TRON network which is a blockchain based decentralized protocol that intends to build a global free content entertainment system – by allowing the free publishing, storage and ownership of data by its users in a decentralised autonomous form.
This lets the users decide on the distribution, subscription, pushing of content, release, circulation and dealing with digital assets. TRON’s premise is to build a world where the creators aren’t required to pay channel fees to centralised and sometimes dominant platforms such as Google Play and Apple’s App Store.
TRON has talent on board – Justin Sun, founder and CEO of Peiwo (largest voice live streaming app in China) and twice has been in the Forbes list of 30 Under 30 brightest young entrepreneurs. Interestingly, Sun is also the Ripple’s Chief Representative in Greater China. Also, much of TRON’s talent has been earlier at Alibaba.
Sun has tied up with Game.com (an online gaming platform), oBike (Singapore’s bike-sharing operator), amidst claims of partnerships with NASDAQ listed firms and also rumours of an alliance with Alibaba. Sun has recently tweeted that “We will announce our partnership with a very prestigious public listed company next week. Looking forward to it!”
TRON has also shown a pattern where lesser known cryptocurrencies have been surging into the top ranks.
It’s interesting to note that TRON has a 10 year development timeline on its website which can make “Star Trek” fans happy – it is currently in initial “Exodus” stage.
