TRON, the project owned and managed by Justin Sun, backed by the TRX cryptocurrency, and led by a community managed by the TRON Foundation. 2018 has been a very important year for one of cryptocurrencies newest additions. Though young, the TRON project has grown from strength to strength, reaching new heights and pleasing investors in the process. 2018 has seen some landmark achievements, from reaching Coinmarketcapâs top ten to the full launch and roll out of the TRON mainnet, things did look super promising for this project. Now though, it almost seems that the brakes are on and that suddenly, TRON are struggling to continue to innovate.A brief history of TRONTRON, or Tronics, was initially built on the Ethereum blockchain in 2017. Just last year, TRON completed an initial coin offering (ICO) that saw the original TRON tokens sold for $0.0019. Around $70 million was raised during this ICO, giving the TRON Foundation the funds needed to start pushing forward into their next stage of development.Based within Asia, overall the majority of TRONâs trading volume came from exchanges based on the continent. Created by Justin Sun, the ex Chief Representative for Ripple in the Greater China area, and an ex student of Jack Ma, the founder of Chinese super-group Alibaba, TRON began with innovation in its veins. Sun never intended TRON to be, just another ICO, it is this sentiment that forced TRON into the crypto arena, making it the well respected blockchain project that it is today. Through 2017 and into 2018, TRON saw a significant price rise during the cryptocurrency boom and then continued to hold value right through the start of 2018. Of course, the negative market soon took hold, bringing TRON back down to a more reasonable price. This however was soon to be overturned by the announcement of TRON Independence and, the inevitable launch of the TRON mainnet.As a project that existed on the Ethereum blockchain, with TRON tokens built from the Ethereum ERC-20 Protocol, the mainnet launch would see the whole TRON project migrate onto itâs own, custom built blockchain, with a brand new native TRX token in the works too.The mainnet was finally launched on the 31st of May 2018, with the TRX token migration taking place during the end of June.What did the TRON mainnet bring?The rollout of the TRON mainnet did bring some intrinsic benefits (otherwise, TRON would have been better off staying on the Ethereum blockchain). The mainnet promised to speed up the transaction speed on the TRON network, showing speeds of around 2,000 TPS, far exceeding that of Ethereumâs blockchain. Moreover, TRON wanted to improve the way people build applications on the blockchain, ironing out some of the creases experienced by developers using Ethereum. According to Dex.openledger:
âAs well as the purported speed of its new base, Tron says the new platform will make it far easier for developers to create decentralised apps as it is built using Java while Ethereum uses the more niche Solidity programming language. Sun also sees a new, more egalitarian cryptocurrency world coming in with Tronâs migration. He says that with other currencies such as Bitcoin and Ethereum âminers, founders, and developer teams hold much of the powerâ. Tron plans to give token holders governance rights. âThe revolution will begin with Tron, as we become a new decentralized protocol with a democratic, self-governing community, free elections, and overarching legitimacyâ he said.â
This brings us to now, a time that is seeing TRON slow down, in order to regroup and refocus on what to do next. TRX as a cryptocurrency is sort of being left on the back burner at the moment, therefore todayâs low values are expected to continue into tomorrow and beyond. With this in mind though, a resurgence in the value of TRX could be on the cards sooner than we think, given that although TRON do seem to have slowed down somewhat, they have a very clear plan for what to do next.As a matter of fact, the future plans for TRON and TRX, look as far ahead as 2037â¦It is clear that with their aptly sci-fi names roadmap, going forward TRON have a lot of work to do. They have an end goal and they know exactly how they are going to get there. Therefore, the current stagnation and calm that we see within the TRON network is something that can be ignored. See this current phase as a short break, before the next phase is ready to take off. Soon enough, it will be full speed ahead for TRON, right through to 2037 and beyond. TRON has really only just begunâ¦ReferencesDex.openledgerGlobal Coin Report
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