TRON (TRX): What is it and where the heck did this cryptocurrency come from?
TRON (TRX), the cryptocurrency that until a few weeks ago was an unknown and has multiplied its value by more than fifty in recent days, reaching a value of $ 0.2.
While we were all with our eyes on Ripple, almost silently, TRON (TRX) has burst like a rocket, a cryptocurrency that has gone from $ 0.0044 or 29 satoshi of Bitcoin on December 10, 2017, to the historical maximum registered today of $ 0.21 or 1430 satoshi of Bitcoin, a spectacular rise in just three weeks and that, only today, registers a rise of 150%, something that has served to put itself in eighth position in the market. But what the heck is TRON and where does it come from?
The TRX website tells us that it is a decentralized reliable application, based on smart contracts powered by the blockchain, they are digital securities already issued and that can be obtained by everyone for a new era in Web 4.0. TRX is a decentralized protocol that is based on the blockchain with the aim to build an entertainment system with free content for everyone, based on the blockchain and distributed storage technology. This protocol allows each user to freely publish, store and possess data, in a completely decentralized way, where the user decides the distribution, subscription and insertion of content and allows content creators to release, circulate and manage digital assets , thus forming a decentralized training content. Peiwo, an application that has more than ten million users that will become the first entertainment application that will be compatible with TRON.
The TRX team has constituted it as a protocol, which from the moment of its invention, is an asset for human beings, rather than a profit tool for a few. It has been established as the Tron Foundation, based in Singapore, as a non-profit organization, dedicated to operating the TRX network within the principles of openness, fairness and transparency. The Tron Foundation is approved by the Accounting and Business Regulatory Authority (ACRA) and is under the supervision and regulation of the Singapore Companies Act. It is administered by the Board of Trustees or the Board of Governors made up of trustees eligible for independent management and operation, which is also independent of the government administration.
This is all very well, but who is your CEO? The CEO is Justin Sun, who will surely not be well known to many, but among other things he is known for having appeared twice in Forbes magazine, one of them in Forbes Asia in 2017 as '30 under 30 'and the other in Forbes China in 2015 as '30 under 30 '. Also Founder of Peiwo App, he is part of the Ripple team in China and most importantly, he is one of the minds behind Alibaba Group. Almost nothing.
Regarding its moment in the market, it has reached its historical maximum at $ 0.2089 today and has reached 1430 satoshi of Bitcoin, although it can also be operated in Ethereum and in this cryptocurrency it has reached 21436 satoshi. Regarding the market capitalization, it is 13.700 million dollars, which at the change in BTC is 933.000 BTC and in exchange in Ethereum is 13.9 million ETH. It adds an increase of more than 160% and has registered in the last 24 hours a volume of 3.6000 billion dollars, of which 86% of this is registered in Binance, which does not work correctly, possibly due to the large traffic it is causing TRON.
And do you think now is a good time to invest? Or do you think it is going to make a bubble very quickly and disappear again?
It hasn't even started to grow…. It is not on many exchanges, that has many crazy.
When the most popular exchanges are released the price will explode.
It is estimated that it will reach $ 1 usd at the end of the month.
What platforms can I invest in, please help
Do we still think the same? I do not know whether to buy or not, now they are thrown and in a few hours they will be even more, if they are going to return to 20 cents, it is a purchase of doubling right now or more.
For a few days the currency collapsed, after a videoconference by Justin Sun, the truth is that there is not much support for his ideas.
I highly recommend betting on other, better-founded projects, take a look at APPC on binance.
The project is very solid and has a lot of heavyweights behind it, so I don't think it will be a project that will collapse soon, on the contrary.
In which platforms can I invest please
Ideally, Binance is, but due to the large volume that TRON and other cryptocurrencies have encountered, they have disabled registration. HitBTC or YoBit are two valid options, although it may soon reach more exchange houses, such as Bittrex
It is also on HitBTC, it is sold against USDT. I would recommend buying Ripple on an exchange that allows you to fund in your local currency. See if you can register on HitBTC, sell to Ripple to get your USDT and then buy Tron.