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Before investing in a cryptocurrency, it is essential to research all information about a particular coin to ensure you have everything you need to better protect yourself from what can happen in the crypto space. In this way, you can prepare to withstand the volatility that is highly associated with all cryptocurrencies at large. There are many successful crypto projects you can consider investing in, and TRON is one of them.
TRON is a decentralized virtual machine that can improve this space in a great way, as it can do what it takes to lead the way to a decentralized internet. It works similarly to Ethereum, as on it, developers can utilize and create complex protocols with the help of smart contracts. But what makes TRON different from Ethereum is that it has a higher transaction speed and a very lively CEO who is always there to support the development of its crypto project. TRON also has a native token, TRX, that investors can add to their portfolios to take advantage of the unique innovations of TRON. Other than this, individuals can also check the TRX price USD and later convert the cryptocurrency to fiat money to make profits if the value of this digital coin appreciates over time.
In this article, we will explore more information about TRON and see why it is a good idea to invest in it.
What is the history of TRON (TRX)?
TRON was developed in 2017 by Justin Sun under the organization now known as the TRON Foundation. They aimed to offer a great infrastructure that would lead the way to a decentralized internet and, in this way, offer a more democratic system for all people to take advantage of. The CEO of this crypto project, Justin Sun, has great merit in developing TRON. Justin Sun has experience with the FinTech sector, appearing on the Forbes List as "Asia 30 under 30 "and "China 30 under 30 ". He started to be involved and attracted by the blockchain sector before he launched its crypto project, TRON.
Sun also had something to do with another very important cryptocurrency, Ripple, where he was the chief representative in the Chinese market. Thanks to this job, he would gather all the contracts he needed to successfully launch TRON. In addition to this, prior to founding TRON, Justin Sun also launched Peiwo, a very popular live-streaming app in China. Then, after the launch of TRON, the developer also integrated this blockchain into the Peiwo app. Thanks to this feature, TRON benefited from more significant popularity and cemented its position as an important digital ledger even more. Additionally, thanks to this combination, TRON successfully increased its user base.
Can TRON be a good investment?
TRON has proved from the very early day that it can be a vital crypto project, and individuals have seen this fact from when the Initial Coin Offering (ICO) of this project managed to raise over $70 million in a short time, which is why, it has transformed into one of the most important and largest ICOs of all times. Even though the price of TRX has fluctuated over time, TRON remains a significant crypto project and one of the top options when investors want to diversify their portfolios.
TRON constantly tries to expand its offerings and increase its use cases. This is why TRON acquired BitTorrent in 2018 and integrated it into its blockchain. BitTorrent represents a peer-to-peer file-sharing network, and thanks to this acquisition, TRON managed to expand what it was offering to its users and appeal to a larger audience. For example, this platform made TRON even more suitable for making micropayments and sharing large files.
In addition, TRON can be used to build decentralized applications (dApps), which is why it has plenty of these applications on its blockchain. This has helped attract more developers and users to the TRON blockchain, which is why this platform also has the potential to become a very important player in the decentralized space.
So, TRON is indeed a good investment for many reasons. For example, it is more accessible to invest in TRON since this digital coin has a lower price than the largest digital coins by market cap, like Bitcoin and Ethereum. Additionally, TRON has unique features, such as high transaction speed, which is why it has transformed into a reliable option. Another great advantage of TRON is that it has various partnerships with different companies in the gaming and entertainment industries, and thanks to this, it can expand its use cases even more in the decentralized distribution and content creation sectors.
What are the main advantages of investing in TRON?
Reduced transaction cost
One of TRON's best advantages is its reduced transaction costs, which can benefit people when making transactions. Generally, cryptocurrencies are associated with reduced fees over fiat money, but Bitcoin and Ethereum have usually had congestion problems when individuals need to pay more fees in periods of high demand. However, TRON doesn't really have issues of this kind, thanks to its consensus mechanisms, such as delegated proof of stake (PoS).
High throughput
TRON also has a high throughput, which is amazing since it can handle around 2000 transactions per second. Thanks to this feature, TRON has started to be appealing to developers who want to build decentralized applications, which usually need a fast and efficient blockchain.
Strong community
TRON also benefits from a strong community always there to support what the platform is going through. The community of TRON is one of the best features that has made this digital coin benefit from its success. Additionally, because TRON has great support from the audience, the platform has everything it needs for long-term success.
The bottom line
Before investing in a particular cryptocurrency, it is essential to look at its special features. Luckily, TRON has plenty of impressive characteristics that make it a good investment. However, even though TRON has had great success, it is essential to consider all risks and conduct research before investing in any digital coin.