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Tron challenges Ethereum's performance

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Tron is an open-source blockchain platform, aiming to provide an ecosystem for building decentralized applications for online entertainment and digital content industry.

Trons distributed storage technology is designed to cut out the middlemen, such as Google Play and Apple Store, and allow creators of content to reach buyers and to obtain funding directly. Tron is seeking part in two trillion-dollar entertainment and digital content industry and its growth has rather been impressive.

Tron has been initially launched as an ERC20 token on Ethereums platform, then became the cryptocurrency of its own platform as Trons mainnet went live in June 2018.

Unlike EOS, Tron isnt positioned as a direct competitor for Ethereum. But it has ambitious goals: to revolutionize the entertainment industry in the first place and eventually to decentralize the web.

The Tron Foundation aims to offer its community a user-friendly environment. According to latest news, the foundation has proposed to halve the energy costs or to increase the energy limit to bring more developers on board.

Trons CEO Justin Sun, the protg of Jack Ma, is aiming to attract an increasing number of gaming dapps on Tron. In the pursuit of this goal, the Tron Foundation launched a $100 million fund on November, the so-called Tron Arcade, to improve the companys gaming blockchain.

Today, Tron is home to more than fifty decentralized applications, mostly gaming and gambling, and the number of dapps increase steadily and significantly. Of course, the number of dapps per se doesnt give an accurate hint about the performance of the platform, given that some of these decentralized applications are waiting to bring users on board. But recently, Trons performance has been seriously defying Ethereums, with a steadily increasing volume of daily transactions recorded over the past two months, despite having significantly less dapps compared to Ethereum.

The daily transactions on Tron exceeded three million on December 16th versus Ethereums record of 1.35 million (recorded in January 2018); the overall transactions surpassed the 100-million threshold.

The rapidly expanding activity on Tron has increased the organic demand in Tronix, TRX, which is the official currency of Tron, although the TRX has been subject to heavy sector-wide downside pressure.

Currently, the TRX is the 10th biggest cryptocurrency by market cap. A unit of TRX is worth $0.020 at the time of writing. This is significantly lower than its all-time high of $0.25 recorded in January 2018 as a result of an unprecedented bullish run across the cryptocurrency-sector.

Price forecasts

The market opinion is dispersed regarding the future pricing of Tronix. predicts an average value for Tronix unchanged at $0.02 until June 2019, with an advance to $0.03 by the third quarter, to $0.05 by the end of 2019 and to $0.24 by the end of 2020. predicts that the price of TRX could ease below $0.01 in the first quarter of 2019, with the possibility of further downside move toward the end of the year.

Meanwhile, gives a clear bullish prediction of $0.35 in a year from now, and expects the TRX price to rise steadily and range between $0.308 and $0.321 by the end 2020.

Despite the limited mid/long-term predictability of TRX price, Trons fundamentals hint at a solid upside potential in the foreseeable future.

In our previous articles, we have often mentioned the need for user-friendly blockchain platforms to shelter tokens. Tron appears to be a solid candidate for the digital entertainment industry.

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About the author

Ipek Ozkardeskaya is a senior analyst at MBAex with a solid experience in the financial industry. She has strong technical background in economics and quantitative finance. Previously, she worked as a senior market analyst in London Capital Group, FX strategist in Swissquote Bank and as a client sales executive at HSBC Private Bank in Geneva. She also developed quantitative models in automatic trading as part of BCV’s Structured Products team. Ipek has a Master’s degree in Financial Engineering & Risk Management and a Bachelor degree in Economics from University of Lausanne.
Contributing  author since 11/09/2017

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