2018 marked the first full year in the life of TRON and their native cryptocurrency, TRX. TRON is one of the youngest cryptocurrency and blockchain projects on top end of the markets, yet this hasn’t stopped Justin Sun, the founder of TRON from embarking on some rather epic quests during the first year of the projects existence. TRON is one of the few blockchain projects with an in depth and clear throughout plan for the future. Therefore the progression made by TRON through 2018 was kind of expected. When we consider things like the TRON Foundation’s acquisition of Bitorrent and of course, the launch of the TRON mainnet, we can see just how bright and bold 2018 really has been for TRON and TRX.
Notable achievements during the year - TRON moved into the top ten cryptocurrencies by market cap, TRX peaked at $0.25 and as mentioned, the TRON Foundation acquired file sharing platform, Bitorrent, and not forgetting the most important development of 2018, the launch of the TRON mainnet and the migration of TRON from the Ethereum blockchain, setting itself up as a true and fierce competitor to Ethereum.
As with most cryptocurrencies, January saw the true peak in the value of TRX as a result of the 2017 cryptocurrency boom. Simply put, cryptocurrency became more popular this time last year, encouraging a wave of new buying. The huge cash flow into the markets pushed the value of TRON TRX sky high, reaching an all time high of $0.25. Likewise, by February, TRX slumped, hitting a low of $0.027. The cryptocurrency boom really did help to pull TRX into the mainstream and therefore it is around this time that people really did start to pay an interest into this project.
February, March, April & May
The general consensus through the markets between February and May found that cryptocurrency was ultra volatile, the same of course can be said for TRON. During this time, we saw the launch of the TRON testnet, the trial used to ensure the eventual launch of the mainnet would run as smoothly as possible. During this time, TRON offered a number of bounties to hackers and developers that could improve the testnet, ready for full mainnet integration. With this in mind, we can see that the development of the testnet and the speculation surrounding the future of the TRON mainnet did have a big impact on the value of TRX, helping it move around from a quarterly high of $0.09, from a quarterly low of $0.02 as recorded during March 2018.
With the testnet out of the way and with the TRON project ready to fly, June saw the launch of the TRON mainnet, also known as TRON’s Independence Day. To re-cap, the launch of the TRON mainnet saw TRON move from the Ethereum blockchain, onto its own rival blockchain, bringing with it the launch of an independent TRX token. Formerly, the TRX token was built upon the Ethereum ERC-20 protocol, however after the mainnet roll out, TRX is now built upon its own architecture. The launch of the TRON mainnet allows for the development of dApps on the TRON blockchain, finally allowing TRON to become a true competitor to Ethereum, by improving on transaction speeds and scalability.
Though June was packed full of good news for TRON, TRX only saw a monthly high of around $0.04, leading up to the launch of the mainnet.
With the mainnet roll out on-going, TRON continued to remain volatile during this time, though the TRON Foundation asserted that everything was running as planned, indeed, it seems they were being truthful. July saw the final stages of the TRON mainnet fall into place. As we can see from checking back on the trends, this didn’t actually have a positive impact on the value of TRX, which only managed to withhold values of around $0.03 during this time. Even so though, the good news did indeed continue, with a promising announcement regarding Justin Sun’s eventual acquisition of file sharing site, Bittorrent.
Bittorrent is one of the world’s leading peer to peer file sharing platforms. During July 2018, the TRON Foundation acquired Bittorrent for an estimated $126 million. The move was established to help TRON continue on it’s path for decentralised, file sharing domination. As it stands, the TRON Foundation are still making great progress with Bittorrent and now control the entire Bittorrent operation. The next step for this acquisition according to Justin Sun, is to use a decentralised file sharing platform as big as Bittorrent, to totally decentralise the internet. This continues to compliment the TRON Foundations plan to totally dominate Ethereum and to take over as the world’s leading platform for the production of decentralised applications.
August, September, October & November
The rest of the year continued to focus on the development of the TRON project, without having a significant impact on the value of TRX. Across these months, TRX remained at a value of around $0.02. During the latter half of the year, the TRON Foundation however continued to make progress, with plenty of listings for the TRX token announced and other exciting new partnerships announced. The general feeling for TRON going forward is that this is a project managed by some very committed and very skilled individuals, all of whom want to see their project flourish.
TRON started the year as yet another project built upon a slowing Ethereum blockchain. Now, as we enter 2019, TRON is it’s own independent and powerful blockchain solution, one that is backed by one of the largest cryptocurrencies in the world. As we have stated, TRON have a very solid and clear plan for the future, one that we only expect will continue to grow into 2019 and beyond.
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