TRON (TRX) Price and Analysis

Tron Overview

Tron is a blockchain-based decentralized protocol which aims to be a content distribution platform for digital entertainment. The Tron platform has its own native cryptocurrency also called Tron (TRX). The Tron foundation was created in September 2017 by Justin Sun, the CEO of Tron.

Tron is a decentralized entertainment and content-sharing platform that is underpinned by blockchain technology. It is essentially a social media platform that differs from the other major social media platforms in how it is monetized. On the Tron platform, the users are directly compensated for being creators of content – and they still own the content.

Tron is also built in such a way that it allows the use of any high-level language for smart contracts. This makes the platform highly flexible to developers. Some people have argued that the Tron platform is an example of Web 3.0 – a decentralized version of the internet where the users are in control. The goal of the platform is for creators to be able to communicate directly with their audience without the involvement of a third party.

Justin Sun is a somewhat controversial character. The 29-year-old is a Chinese-born crypto enthusiast who has been on the crypto scene since the early days of Bitcoin. Sun first became known as the creator of PEIWO, a Chinese Snapchat rival which is highly popular. He also purchased the peer to peer file sharing company BitTorrent in July 2018 for $140 million through Tron.

The young entrepreneur has had several clashes with Vitalik Buterin, the founder of Ethereum. The pair have argued via Twitter in the past. In April 2018 Sun posted a diagram suggesting that the Tron protocol is superior to the Ethereum protocol. Buterin disagreed and accused Sun of misrepresenting the capabilities of his platform. In March 2019, Sun hit the news again after it was discovered that a high proportion of his Twitter followers are actually bot accounts. Why is this a big deal you might ask? Because Sun bragged about being the “first one in the crypto world to break through 1 million” followers. This was likely a stab at Buterin who currently has 842K followers.

Some of the controversy surrounding Sun is concerning; in early 2018 he was accused of using some of Ethereum’s code on his platform. Sun did correct this, but the incident didn’t go unnoticed by those in the industry, particularly investors. He’s also been known to anger investors in the past by announcing that an announcement will come in the future. This lack of clarity around Tron isn’t as hidden by Sun’s enthusiasm as he thinks it is.