TRON (TRX)–Last week we wrote about the massive price volatility TRX has experienced through the first nine months of being on the market. While most of the industry of cryptocurrency has been on a roller coaster ride in valuation over the last year, TRON has suffered from significant highs and lows. The overnight millionaires crafted in December 2017’s price rise from 0.002 USD to 0.30 USD are equally balanced by the investors who lost 92% of their stake from January’s all time high to TRX’s lowest price point in March.
In that time, TRON has experienced one of the largest backlashes of FUD and outright vitriol from investors burned in the price swing. The allegations have ranged from TRON’s plagiarized white paper, insinuations of vaporware, and overhyped marketing on behalf of Sun to create a pump-and-dump. While much of what TRON and the TRON Foundation has done throughout 2018 is in direct contrast to those allegations (such as meeting their deadlines for Test Net/Main Net implementation and building real world partnerships through entities such as Game.com) the stigma remains for a portion of crypto investors. A cursory glance at Reddit or other cryptocurrency-dedicated hangouts, particularly between January and March, would give the impression that TRX is one of the worst possible investments.
However, those same investors burned in the plunge from 0.30 USD have also missed on the 250% increase in TRX valuation over the last month. Part of that is building excitement over the Main Net launch coming at the end of May, but a good portion can be attributed to the efforts of Justin Sun and the TRON Foundation for mending the relationship between TRON and the rest of the cryptocurrency industry.
TRX Focused on Top of the Market Performance
If there was any better argument to the allegations of vaporware, TRON has silenced doubters with their relentless pursuit of developing TRX into a top of the market cryptocurrency. While Main Net has yet to officially launch, the capabilities of TRX on the new TRON network are nothing short of astounding:
- Negligible fees. TRON has followed Ripple in implementing a fee structure that makes TRX essentially free to use as a transacting currency. This removes the barrier of miner fees to scale, and opens the door for novel implementation of “throwaway” transactions, such as crypto-key unlocks, that would not be possible with users spending 1-5 USD per transaction.
- Built to scale. The TRON network will have one of the highest transactions per second of any currency in the industry. Main Net was originally set to launch with 1000 tps, but Justin Sun upped the ante last week with an announcement of 10,000+ TRX transactions per second on Main Net. While other currencies struggle with the ability to scale to usable network loads, TRON is ready-made to handle a large influx of users and developers on Main Net.
- Coin Burn. The coin burn is more of a nod to the investment community behind TRX. Particularly with large supply currencies (TRX has a hard cap of 100 billion coins), the coin burn provides a way for the currency to become more scarce over time. While TRON’s coin burn is less impactful than other currencies (developers will “burn” 1024 TRX to create a new token on the platform), it gives an indication that the TRON Foundation and Justin Sun have given an eye to increasing the value of TRX over time, outside of pure price speculation.
Functionality may not constitute the same headline grabbing appeal as a big name partnership, but the TRON Foundation has made substantial efforts to improve the standing of TRX as a credible coin in the industry.
Community Focused Marketing for TRON
Ripple kicked off the recent crypto-based philanthropy with their 29 million USD donation to public school education via Donorschoose.org, but the TRON Foundation has seen the value in using their wealth to capture headlines and community endearment. To begin, TRON has implemented a 30 million TRX airdrop to Ethereum users, in an effort to bridge the gap between the two currencies. This exposes TRON to a vast, new user-base with a similar focus on the potential of crypto-based networks. It also gives these users a vested stake in TRON, albeit small, that is sure to win over a few new converts to the currency’s Main Net development.
During our testnet launch, I announced that 1 Billion USD will be dedicated to the #TRON community rewards program. Now that number is 2 Billion! Welcome to Project Genesis. #TronPG $TRX #TRX pic.twitter.com/048Vu1OipT
— Justin Sun (@justinsuntron) April 14, 2018
TRON has also taken a massive step forward in recruiting top level development and incentivizing Main Net growth via a two billion USD investment fund targeting GitHub developers of TRX and other community based projects. The investment fund insures that TRON will attract the type of talent and interest that will drive innovation and implementation for TRON. Main Net may be the stepping stone for TRX usability and the creation of TRON’s native network, but the developers who build applications for users to participate will be the ultimate arbitrators of TRON’s growth. Justin Sun and the TRON Foundation have recognized the necessity of drawing in greater development interest, and are leveraging the decentralized, open source protocol of cryptocurrency through the appreciative gains they’ve made in the last several months.