Introduction:

Despite the unbridled craze for Bitcoin nowadays, a considerable number of altcoins are making their way in the world of digital currency as well. Apart from the more familiar altcoin names like Ethereum, Monero, Ripple, Dash, etc, a lot of ICOs (Initial Coin Offerings) had been converted into legitimate cryptocurrencies in the previous year of 2017. TRON, a decentralized blockchain-based protocol, is one of the most widely used and effective cryptocurrencies among those recently converted cryptocurrencies.

TRON is basically a blockchain based protocol that is designed for the digital entertainment industry and offers a decentralized platform capable of providing various entertainment contents by leveraging a combination of blockchain and peer-to-peer (P2P) technology.

TRX, the official cryptocurrency of TRON, aims to curtail the unmitigated control of a certain number of organizations like Google, Amazon, etc over the internet by handing the ownership of the data pool to the user. Here, a few aspects of this new cryptocurrency and its surmised future will be discussed.

Conversion from ICO to Cryptocurrency:

TRON came into the market as an ICO on September 9, 2017. An ICO or initial coin offering refers to an unregulated means of raising money for a new cryptocurrency venture. After raising a gargantuan amount of 81 million USD in a matter of few days, the ICO of TRON got tokenized into a legitimate cryptocurrency by the end of 2017.

TRON’s Roadmap and Stages to Come:

The adroit and insightful developers of TRON have already excogitated a foolproof plan for this cryptocurrency. In the official roadmap for TRON, they have introduced a plan until 2027 concerning several different stages or phases. The first four stages are scheduled to end by the end of 2023 whereas the last two would take until 2017 to get completed. The concerning stages are:

Exodus: TRON is currently in this phase. The main purpose of Exodus is to offer a free peer-to-peer platform for distributing and sharing content related to the entertainment industry. Odyssey: This stage of TRON is likely to follow the standard paradigm of a proof of stake cryptocurrency. Odyssey would put economic incentives in proper places so that the creators of entertainment content can be encouraged. Great Voyage: This phase would deal with a significant number of issues like dividend management, income payment, and the management of the devoted supporters. Apollo: The functionality of Apollo would be quite similar to its previous phase. Additionally, in this phase, TRON would be able to launch their personalized token that can be successfully used for decentralized trading. This phase is likely to end by 2023. Star Trek: This phase is quite similar to the technology used by a renowned gaming platform Augur. If the profitability of the current gaming market is an indication, then this phase is likely to secure a commendable market capitalization for TRON. Eternity: The last phase of TRON would provide the opportunity to the developers to create their own games and take part in the fundraising events.

Competitive Advantages of Using TRON:

Personal ICO: TRON would allow its users to start their own initial coin offerings by giving away digital assets individually.

Data liberation: TRON allows their users to have the fundamental ownership of various data and contents pertaining to the entertainment industry instead of seeking the assistance of middlemen like Google Play Store.

Gaming and forecast: As mentioned earlier, the last two phases of TRON are mainly focussed on the gaming industry and market forecast. Therefore, once the development of TRON is completed, it will help a significant number of investors to make money in the gaming industry and predict future market scenario.

TRON Development Team and Its Contribution:

TRON’s development team works under their CEO, Jackson Sun, the former chief representative in greater China of Ripple. Recently, Justin Sun announced the inclusion of the top Alibaba executives to TRON’s development team. The China office of TRON currently contains more than 100 employees.

Partnerships:

Right at the beginning of this year, TRON partnered with oBike and helped them to launch their own cryptocurrency known as oCoin. Besides this, TRON is also in partnership with Baofeng and Game.com.

The Current Market Scenario:

TRON currently holds the 15th position in terms of market capitalization which is commendable considering its overall duration in the cryptocurrency market. The total market cap of TRON is nearly 2.8 billion USD (as of 22nd February 2018) with a value of TRX token equivalent to 0.042 USD apiece.

TRON’s Future:

It is a well-known fact that the nature of cryptocurrency market as a whole is extremely volatile. Hence, there is no possible way to pinpoint the future of a certain cryptocurrency. However, as far as the speculations are concerned, TRON seems to have a fairly prosperous future ahead. If the six phases of this coin can be executed with utmost success, this digital currency is likely to make inroads in terms of market capitalization as well as usage. Also, the entertainment industry is constantly growing and as the functionality of TRON is cognate to this very industry, this cryptocurrency is likely to become even more reliable and useful to numerous investors across the globe.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.