First off, let’s establish a brief description of Tron (full name Tronix Coin, TRX as its symbol). Tron was launched in September of 2017 on exchanges at a price of $0.001. Today, TRX is trading at approximately $0.02 a coin.
Originally functioning on the Erc-20 blockchain, Tron decided to innovate their project much further than merely being a quick and cheap modality for transferring information (particularly when it comes to data stored for app development, and file sharing). Tron decided to be much more daring by creating their own blockchain to run on, and “taking a page” from the Ethereum playbook, acting as a “lighting” quick protocol for any other tokens to “piggyback” off of.
Smaller tokens with less market cap and backing at the moment have the ability through what are called smart contracts obtained through the Tron Virtual Machine, which can generate smart contracts for protocols to run off the Tron network/blockchain. This sort of highly decentralized data sharing ability is not only unique but revolutionary.
Tron developed a network significantly faster (claims of up to 100x ether processing speed) and cheaper modality for transferring coins (I.e.blocks of data), which can be used to run and store information across a global network without centralized servers in one location.
Additionally, Justin Sun, the CEO of the Tron Foundation, is one of the most ambitious men within the crypto-sphere today. Not only is he leading the way with his work devoted towards Tron, he additionally acquired BitTorrent for approximately $150 million, to function as an extension on Tron’s blockchain.
BitTorrent is the most highly utilized file and data sharing domain in the wold. Approximately 20% of the transfer of digitized content worldwide is done through BitTorrent, making it one of the most frequented websites in the world in general (ranked between 11-13th consistently). By risking his own funds in the BitTorrent venture, Sun then only furthered the interests and long term success of Tron. BitTorrent token was later created as a specific protocol for sharing information on a blockchain format, running on the Tron blockchain.
Sharing of information (data) in a decentralized, encrypted; modality. This concept of easily sharing potentially massive blocks of data which can at times store sensitive information is a quantum leap in how our very socio-economic lives will play out. Tron serves as a perfect example of everything blockchain technology itself can bring to the world, and is a top project to watch long term. Tron has a 10 year, 7 phase plan already specified and laid out in detail.
My current prognostication based on fundamental and technical analysis is that it will soon “moon” 50-100% in value over a period of 24-36 hours, sometime in the next 2-3 week range. There are two significant justifications for this sort of tremendous price increase:
1] China just officially released its position on blockchain that could possibly support open trading of Neo and Tron in particular, allowing the full potential of Chinese private equity to flow in, monitored by a classical dictatorial regime, but with the backing said regime, China not acting against its own interest in impeding all forms of the crypto economy. Xi Ping taking this action confirms the position that private equity was already flowing from Chinese investors into crypto in general, and will now only have unlimited room for expansion in possibly the #1 economy in the world.
A powerhouse of industry, finally looking to extend its “tentacles” out, much like European conglomerates did, being more than happy to work within a global economy, as it creates much greater wealth for the nation and its citizens (both private and in government positions). It’s as if China is taking the smart position of merely adapting to crypto as a reality and inevitability, rather than being indecisive or negative. This unsatisfactory outlook only limits the market’s potential which seems proficient with US lawmakers. Giving China a forefront position within the control of the market overall, joining hands with these two projects should be a bridge to success.
2] Tron foundation is collaborating with Samsung, having all new Samsung products built with the Tronscan network as an application standard to Samsung electronic equipment. Justin Sun recently had a worldwide disseminated sit-down with Samsung representatives discussing plans further in detail, so that the public may hear more of this solidified partnership.
The fact that Tron is linking up with a tech giant such as Samsung is a huge bull sign in terms of fundamental analysis. Having such industry and wealth available through a partnership with Samsung; as well as overall outreach to the public creates a potential for endless bounds of growth to occur.
To sum up, Tron is “ready to pop” once more. TRX is a relatively inexpensive asset for a top 10 Crypto and is in my opinion still undervalued.
Even after rising over 20% from early last week, as the entire market had similar results from BTC moving the whole sphere with a bit extra from these rumors that I have in here mentioned, now known to be fact, were then swirling. Tron has everything to gain, and it will burst very soon.
Disclaimer: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of ZyCrypto. None of the information you read on ZyCrypto.com should be regarded as investment advice. Every investment and trading move involves risk, you should always conduct your own research before making any investment decision.
