Tron is one of the main cryptocurrencies in the world (always in the spotlight). The cryptocurrency’s main network is now active , and on its independence day , it burned TRX worth a billion to control inflation. With all these events that have occurred, there is a big question that comes to mind, and that is: what will be the price of Tron in 2019, 20 and beyond. Tron Coin Price Prediction of $ 1 by the end of 2020? Could you buy a Lambo with him in the future if you use HODL Tron?
However, before jumping to the forecasts, we cover some initial things. Tron (TRX) was created by Justin Sun, and worked with Ripple (XRP) for some time before creating Tron. It is important to know that Tron was created to change the entertainment industry.
The platform improves content exchange without using important sites such as Facebook and YouTube. In addition, Tron is one of the most profitable cryptocurrencies and is currently ranked as the tenth-largest currency in the cryptocurrency sphere at this time.
The blockchain uses a consensus test participation mechanism and can process more than one thousand transactions per second. The blockchain also uses the Lamport algorithm for wallets.
Tron Coin Price Prediction reach $ 1?
TRON, a young company that is barely one year old, has surpassed most cryptocurrency projects. The startup was successful in launching its main net, and now everything is ready to withdraw from ERC20 and switch to its own main net tokens.
Realizing recent developments in TRON, the accounting book Nano made an open invitation to TRON and with the launch of Odyssey 2.0, Tron will be completely independent and ready for good developments and price increases in the coming months.
Justin Sun, the founder of TRON, recently made an official statement calling June 25 as his Independence Day. The TRON community is ready to migrate to its own blockchain. Community members have also been asked to confirm their remaining Tron ERC20 tokens and migrate to main net tokens.
Realizing recent developments in TRON, the ledger Nano S, one of the most popular hardware wallets on the market, made an open invitation to TRON to join its development slack. Ledger Nano S, which only supports popular currencies, is the access resource for serious cryptocurrency traders to store their earned cryptocurrencies with such effort. Ledger Nano’s response to a user on Twitter was a success that TRON could be his next candidate.
Tron Live Price
Tron coin a good investment?
If you don’t know what Tron is about, you can read our in-depth guide here. In short, Tron’s mission is to build a truly decentralized Internet and infrastructure for the entertainment industry.
Now, let’s dissect Tron’s fundamentals and see if we can put any money into it.
Tron’s New Mission
Tron is a completely different project from when it was launched in September 2017. The significant turn in Tron’s ideology took place in June 2018 when Tron broke off of Ethereum and launched its own mainnet to become an independent cryptocurrency.
Just a couple of months ago, Justin Sun (founder and CEO of Tron Foundation) tweeted that Tron was getting into the smart contract arena and would be 200 times faster than Ethereum and 100 times cheaper than EOS.
Is it true? At this moment in time, it’s a promise yet to be delivered. But so far, most promises that came directly from Justin Sun had been honoured — more or less in a timely fashion, too.
Before you read any further, I want you to know that I’m not ranting about Ethereum to promote Tron. I have no business in doing that — instead, I’m taking an objective standpoint where I compare the two coins to draw conclusions since they’re becoming close competitors.
Scaling Drives Global Adoption
The make or break for Tron could be its ambitious plans to scale the main chain without extending to protocol layers built on top of the blockchain.
In comparison, Ethereum wants to scale by sharding and implementation of side chains because the main chain is overpopulated and slow. It’s also becoming too large to be installed on one’s computer to run a node. And even after downloading the Ethereum blockchain that weights over 1TB, it’s extremely difficult and time consuming to make it run properly.
Nonetheless, that is a necessary step for developers to undertake if they want to develop on the core platform without having to escape to Infura — a new layer which runs an Ethereum node for developers to connect to and use that instead, but at the cost of making the ecosystem rather centralized.
How much is Tron worth now?
The TRON protocol has grown since its launch on the main net showing impressive numbers of active users. It has also retained its ability to boost retail buying interest through speculative news events. However, the fundamental problems continue, with the fall in chain economic activity in recent months and the lack of diversity in the industry within the Tron Dapp ecosystem.
TRON (TRX) is a blockchain platform. His native TRX token has established a top 15 position in the market capitalization chart of Brave New Coin. TRON is a project that has constantly divided the encryption community.
Its detractors see it as vaporware with value created through aggressive and retail marketing and public relations. However, its supporters see the project as a legitimate long-term challenge in the platform’s blockchain space, with real potential to disrupt legacy systems in digital media and distribution industries.
TRON, or the TRON protocol, refer to the underlying blockchain, while Tronix or TRX, refers to the network’s native token, which fulfills a number of different functions within its ecosystem. It is used to boost smart contracts and can be frozen (staked) so that users access zero transaction rates and participate in the voting of network block producers .
It is paid to block validators to confirm transactions, and several TRON Dapps (decentralized applications) use it as a payment token in the application.
Like many other crypto assets, the biggest use case for TRX today is as an asset to be traded. A large part of Tronix holders are less interested in user experience or utility options integrated in their tokens that allow interactions with the TRON blockchain. This group are speculators who will buy and sell their tokens based on short-term price movements.
It is also likely that there will be a smaller group of inactive users who may have long-term TRX due to future utility expectations and price appreciation. Travis Kling, investment director of Ikigai Capital, said: “Owning Ethereum today is a purchase option on what you think the network will be in the future.”
TRX was launched with an ICO launch price of USD 0.00186, with a price of USD0.026 today, representing an increase of 1,583% for the first investors. In 2019, the price of TRX has increased by approximately 64%, currently trading at ~ USD 0.032 and occupying position 13 in the market capitalization table of Brave New Coin. This compares poorly with the higher profits of other large-capitalization assets and alts in the crypto market.
The Bitcoin market benchmark index has increased ~ 111% since the beginning of January, while the direct competitor and the ETH platform blockchain token has increased ~ 87%.
TRON’s broader network utility is similar to other platform blockchains such as Ethereum. TRON uses an adapted version of the Ethereum virtual machine to execute and test smart contracts, called the TRON virtual machine.
TRON’s vision as described in the most recently published technical document is to build a “project dedicated to the establishment of a truly decentralized Internet and its infrastructure”. An important step towards this objective was the purchase of the BitTorrent protocol in June 2018 for USD $ 120 million.
Ethereum smart contracts are supported within the TRON virtual machine. TRON markets its solution for blockchain developers as an efficient and low-cost implementation alternative for Ethereum.
TRON smart contracts are executed in a dual format system . There is an option to freeze the TRX (stake) tokens to access network power and bandwidth, not including the individual smart contract operation gas rates based on standard TRX.
What is the future of the Tron Coin?
Tron Coin Price Prediction that in January 2020 you can expect a price between $ 0.05- $ 0.08. By the end of December 2020, a high increase is expected at prices of $ 0.21 – $ 0.30.
Another site, CoinSwitch, forecasts that Tron for the first time could reach the price of $ 0.4 and will be more fluctuating than 2019. Eventually, Tron Coin Price Prediction by December 2020 a price decrease to $ 0.24 is expected.
Tron Coin Prediction Price 5 years
By 2020, more and more organizations can adopt this technology, since price prediction depends on their acceptance rate and, as it increases, will be more valuable. Most startups such as publishing startups or music startups will accept this.
The price of TRX is expected to have some growth in May. The Tron Coin Price Prediction suggests that the TRON price may rise over a long term of 1536.75% in the value of the TRX price with a 5-year investment. This means that Tron’s price is forecast at $ 0.54 in the year 2023.
Latest updates and news
TRON released The Sun Network version 1.0
The TRON Foundation launched the code for Tron’s side chain scaling solution, which is version 1.0 of Sun Network.
The tweet said:
“SOLAR NETWORK PROTOCOL WORLDWIDE FOCUSES ON THE EFFECTIVE EXECUTION OF SMART CONTRACTS, IMPROVING NETWORK PERFORMANCE AND REDUCING RATES”.
The TRX listing in the main exchange is Justin’s top priority
The founder, Justin Sun, says that the inclusion of TRX in the US version of Binance or Coinbase is the company’s top priority.
TRON mentioned this through a tweet:
“YES. IT’S OUR PRIORITY # 1 NOW. WE WILL HAVE A COMPLETE TEAM INCLUDING ME DEDICATED TO THIS MATTER. WE WILL GET ALL THESE THINGS WITH #TRON SPEED! #TRX $ TRX.”
Announces $ 20 million repurchase plan
The Tron Foundation has announced a $ 20 million repurchase plan in a blog post published on June 25.
The repurchase is supposedly part of an initiative to boost community activity and market stability.
The company will carry out the largest Tron token (TRX) token repurchase plan so far with the broadest coverage in the secondary market, the post reads. The repurchase will last one year in the form of several lots totaling $ 20 million.
On January 1, 2020, the Tron Foundation will disclose its participation in TRX, however, the company also says it has no specific plan for the unlocked amount of TRX.
TRON is an established base to provide the development and maintenance of the distributed network of TRON. The TRX currency was initially based on the Ethereum network and developed through the ERC-20 protocol, but then transformed to become an independent cryptocurrency based on the Tron protocol.
In early June, Tron announced an upcoming release of its blockchain-based platform, Odyssey, to version 3.6. Odyssey version 3.6 will contain new features, such as improved security and stability.
In May, Tron revealed plans to develop a BitTorrent-based version of the InterPlanetary File System decentralized file system. According to reports, the development is a variant of IPFS open-source software and “will allow users to receive and host storage on their computers with other people and businesses.”