Tron is a blockchain platform cryptocurrency. It aims to bring about a decentralized system of entertainment using distributed storage. Tron was founded in Singapore by the non-profit Tron Foundation in September 2017. Tron became autonomous from Ethereum in June 2018, which makes its autonomy about a year and two months old.
The purpose of Tron is to build a free content entertainment system, using peer-to-peer technology to achieve decentralization. This would allow for cheaper and easier sharing of digital content. Tron started its services with Exodus, a somewhat limited version of Odyssey. Odyssey is what Tron offers today. It is a platform that allows users free p2p content storage and distribution. Tron has major new stages planned for 2020 and 2021, being the Great Voyage and Apollo respectively.
In the long term, Tron plans to offer Star Trek in 2023 and Eternity in 2025. Each passing stage of Tron is expected to increase the range of things its users can do with the platform. It is expected that the future will see a Tron platform where users can create and play decentralized games, and will even be able to make decentralized markets – which allows for fundraising.
A turbulent path
The community based around Tron has suffered since its Power One Lunch with Warren Buffet was canceled. This cancellation made users think twice in order to buy Tron (TRX). It even gave rise to some conspiracy talk.
And though users were made wary by the cancellation, Tron managed to keep growing. It wasn’t expected that a cryptocurrency as relatively young as Tron would manage to take on the already established ones and reach a third-place ranking in barely a year.
The cryptocurrency, however, performed excellently. Since its autonomy, Tron has been able to grow its user base and adoption.
In a tweet, Tron chief Justin Sun said:
In a recent report regarding #Crypto rankings updated on 31st July, CCID Institute of China rated #TRON at the 3rd spot among other 37 #cryptocurrencies. The status of the cryptocurrencies is based on technology, innovation, and application. #TRX $TRX pic.twitter.com/HhyzshDSbg
— Justin Sun (@justinsuntron) August 5, 2019
The report placing Tron at third-place out of 37 cryptocurrencies comes from the Centre of Information and Industry Development (CCID) which is named by the Global Public Technology Assessment Index. The top three currencies, according to the report, are:
It seems safe to say that Tron is leading online crypto trading in China. Despite this, there have been rumors of Chinese officials intervening against Tron. The rumors claimed that Sun’s inability to attend the Lunch with Warren Buffet was due to Chinese intervention.
TRXColony rebutted this by tweeting: “If China is so against #Tron, why would they release a report ranking $TRX the #3 #crypto in the world? Ahead of $BTC, $XRP, $LTC, etc…”