What is Tron coin? It is a question we have been getting asked left and right. In this article we discuss as an introduction the up and coming cryptocurrency to address the question of “what is Tron coin?”. On the morning of Jan. 4, the cryptocurrency TRON (TRX) posted 136 percent growth, becoming the 9th largest cryptocurrency by market capitalization, and pushing Dash to 11th place. So the first thing to know when you ask “what is Tron coin?” is that it is now a top ten cryptocurrency.
The altcoin has been on a bullish trend since mid-December, growing well over 2,000 percent since then. In the first week of 2018 alone, the coin has seen almost 300 percent growth. TRON hit $0.24 earlier today, and is currently trading at an average of $0.17, with a market cap of $12.4 bln at press time.
What is TRON?
TRON markets itself as a Blockchain-based protocol for the entertainment industry — a platform for content distribution in which TRON’s native token, TRX, is circulated. The project ran an ICO in early September, hitting their fundraising goal of $70 mln. TRX has been trading since mid-September. But what is tron coin?
Like Ripple, Tron and its tronix coin have experienced a meteoric rise since the middle of December. As recently as last month, the coin’s value was less than a penny, but it reached highs Friday of about 26 cents. That surge was enough to make it briefly the sixth biggest cryptocurrency in the world, and its current $14.1 billion market cap makes it the seventh biggest as of this writing.
But what exactly is Tron, where did it come from, and how is it possible for those interested in it to purchase some? Let’s break down all you need to know about the latest player in the ever-changing crypto world.
RX is the coin used for exchanges in this digital ecosystem. As with other cryptocurrencies, TRX eases international transactions. This can be particularly important for digital content creators who can find themselves shut out of a country entirely if they are not able to transact in the local currency.
How Did Tron Get Started?
The cryptocurrency is the brainchild of Justin Sun, a 26-year-old tech entrepreneur based in Beijing. His Twitter bio notes he was the only millennial to attend Hupan University, an elite entrepreneur leadership program in China founded by billionaire business magnate Jack Ma.
What Is Tron Coin?
Like other bitcoin alternatives, Tron was originally envisioned as a solution to a specific problem before it attracted the attention of investors eager for the next big cryptocurrency boom. In this case, its creators designed Tron as a blockchain-based ecosystem for digital content.
What this basically means is that digital media creators who use Tron have total control and ownership of the data they create, including how it is distributed to their audiences. This cuts out intermediaries like Google Play and the Apple Store, eliminating the fees those companies charge creators to have their material available there.
In the past few days, the founder and CEO of TRON, Justin Sun, has posted a couple of tantalizing tweets that hint at upcoming partnerships, without disclosing any names or details.
On Jan. 2, Sun tweeted about potential partnerships with “giant companies”, noting boldly “We will be huge soon!”.
Early morning Jan. 4, Sun followed up with a second teaser tweet about an upcoming “prestigious” partnership to be announced next week.
On Dec. 31, Sun predicted that his project’s cryptocurrency would break into the top ten in 2018, a feat it managed to accomplish in just the first four days of the year.