CRYPTO | BLOCKCHAIN | TRON
MY EXPERIENCE OF HODLING TRX
As a cryptocurrency enthusiast, I am always in the search for exciting projects and with all the ongoing controversies, Justin Sun caught my attention.
Introduction
Founded by Justin Sun in 2017, The Tron Protocol is one of the largest Blockchain-based operating systems in the world and TRX is the native cryptocurrency of the system. The whole idea behind the project is to decentralize the internet and create a distributed storage system thus eliminating the middle man.
Tron has come a long way since its launch and stands strong in the 15th position on CoinMarketCap.
Why Tron?
- Rewards for Staking
With an upgrade on the consensus mechanism from the traditional Proof of Work to Delegated Proof of Stake, the holders of TRX will get benefitted from holding a certain amount of TRX and the annual staking rewards can be as much as 7%–9%.
- Lightning Speed
Tron has a network transaction speed of 2000 transactions per second which is 80 times faster than the second-largest Blockchain network, Ethereum.
- Low Gas fee
It is very important for a Blockchain network to have a low transaction fee. If not, the whole point of making the transfer will just be complicated. Ethereum’s volatile and increasing network fee is one of the biggest reasons why I prefer Tron and the maximum fee I’ve ever paid on the Tron network is 1Trx.
- High Scalability
Applications in the Tron network are given a wide variety of ways for deployment and it can support an enormous number of users. It is all possible because of the network’s scalability and highly effective smart contract.
Use Cases
Tech companies such as YouTube, Facebook, Microsoft, etc benefit from the content being shared on their network and the users don’t really get benefited as much as they deserve. Content creators follow an already established path in the belief of getting rewarded but the authority in control can always manipulate the reward percentage thus leaving you with no choice.
Imagine being rewarded for the number of views and appreciation your post gets, without the fear of commission rates.
Apart from rewarding content creators, the Tron network is being widely implemented in the gaming industry and there are already over 700 DAPPS in the network.
As a fan of Poker, I’ve tried playing Poker in an established Tron based websites and the experience was mindblowing.
Why am I bullish on TRX?
There are several reasons why I’m bullish over TRX and with the following events that took place recently, I believe that there could be a surge in value very soon.
- Acquisition of Bittorent
- Launching Tron 4.0
- Launching JST token
Justin Sun is very good with his marketing campaigns and though the vision of the network is not very clear, volatility is my best friend. I invested in TRX when the price was $0.015 and the price had doubled in a few months. I wouldn’t be surprised if the price of TRX hits $1 before the mid of 2021.
Disclaimer: Trading involves substantial risk, and there is always the potential for loss. Your trading results may vary. No representation is being made that any associated advice or training will guarantee profits, or not result in losses from trading.
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Why Did I Invest in TRX When Everyone’s Against it? was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.
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