The Future of TRON: 2024 Review

Table of Contents

• TRON Overview
• TRX Blockchain & Consensus Mechanism
• TRX DApps & Smart Contracts
• TRON Price Prediction
• TRX Price Forecast for 2024
• TRX Price Forecast for 2025-2030
• Is TRX Worth Investing In?

Tron is one of the leading cryptocurrencies in the market. It is currently ranked #12 by market value and top 30 by daily trading volume. It’s focused on the development of DApps using smart contracts, like many other projects in the ecosystem.

However, there are specific features that distinguish it from some of its competitors. If you’re thinking of investing in Tron, let’s take a deep dive into its features and market predictions. Then, you can either purchase some tokens or swap them. Using exchanges, you can trade XEM to TRX or any other pair using the tokens you already own.

TRON Overview

The Tron project is similar to Ethereum, Solana, and other DApp-focused blockchains. In fact, it was initially launched as a token on the Ethereum blockchain, in 2017. It was successful from the beginning and, one year later, it migrated to its own blockchain. You can also compare SOL vs TRX to find out what are the differences and similarities between these blockchains.

Tron supports the creation of smart contracts, which can be used to develop any kind of DApps, such as exchanges, marketplaces, or video games. In 2019, Tron’s CEO, Justin Sun, acquired BitTorrent and launched the BTT token shortly after.

TRX Blockchain & Consensus Mechanism

The Tron blockchain architecture is quite similar to others like Ethereum. However, it is differentiated by the use of the Delegated Proof-of-Stake (DPoS) consensus algorithm. New blocks are created every three seconds and validated by stakers known as Super Representatives (SR). Super Representatives are stakers who are voted by other network members. A new group of SRs is chosen every six hours. The mining reward is distributed between super representatives and the stakers who voted for them.

TRX DApps & Smart Contracts

Tron features smart contracts, like its competitors, to foster the creation of DApps on the blockchain. The building environment is called the TRON Virtual Machine (TVM), and it is compatible with the Ethereum Virtual Machine (EVM). This means that applications built on Ethereum can be compatible with the Tron blockchain. Ethereum is the largest smart contract-focused blockchain, so it makes sense to start with it. But in the future, the Tron team plans to make other blockchains compatible as well.

TRON Price Prediction

The TRX token has had a great market run since its inception. It launched around September 2017 and, by January 5th, it had increased by over 11,000%, when it reached its all-time high. The price quickly fell, but this initial push, along with the appropriate technical and marketing decisions, has kept the price afloat and thriving. Despite the usual surges followed by sudden drops, the price has sustained an upward trend, and it is expected to follow in the coming years.

TRX Price Forecast for 2024

TRX’s price is currently around $0.119, and market analysts predict that it will be around $0.1624 and $0.23 throughout 2024, a growth ranging between 40% and 90%. This claim isn’t unsustained because, since May 2023, the price of TRX has been climbing steadily, increasing 85% in the last 12 months. This trend isn’t unlikely to drop soon, because both the community and the developers are active on the network.

TRX Price Forecast for 2025-2030

According to market experts, the subsequent years will also follow a similar pattern, with yearly gains of around 40% and 50%.

Is TRX Worth Investing In?

Tron is definitely one of the most valuable projects in the crypto ecosystem, and the TRX token is a highly profitable investment. While the safest advice is to do your own research and only invest what you are willing to lose, we can say that TRX is one of the tokens that can be considered a good idea to invest in and expect great returns.