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Tron/Dollar rate (TRX/USD)
TRON (TRX) is the official cryptocurrency of the TRON project. The aim of the project is to create a decentralized platform for sharing entertainment content. By using blockchain technology and a peer-to-peer (P2P) system based on trust, TRON enables the owners of Tronix to publish, store and regulate the use of data.
The entity responsible for the project is TRON Foundation, a non-profit organization based in Singapore founded by Justin Sun. Although the name may seem not really known, the profile of the founder of the TRON foundation is worth attention. Sun is known on the international scene as the founder of Peiwo - an application competing with Snapchat, bringing together about 30 000 000 users from over 100 countries. His achievements also include the position of the main representative and adviser of Ripple Labs, as well as the status of a student at Hupan University - a prestigious university for entrepreneurs founded by Jack Ma (founder of Alibaba Group) whose admission rate is lower than Princeton or Yale. It is worth noting that Justin Sun was accepted to Hupan with the personal order of J. Ma. Impressive? Certainly. Especially when we take the age of the entrepreneur into consideration, in 2015 and 2017 he was on the 30 under 30 list of Forbes magazine for China and Asia. On the anniversary of the founding of TRON foundation, on 30th of July 2018, Justin Sun turned 28
The presence of TRX on the cryptocurrency exchange is an unprecedented phenomenon. Despite the launch of Initial Coin Offer (ICO) on August 3, 2017, TRON was quickly appreciated by the community, just after only one year on the market TRX is on the 13th place in the ranking of the coinmarketcap and 7th place according to the CoinGecko ranking. It is enough just to get to know the people involved in the implementation of the TRON project to understand why cryptocurrency, which at the beginning of September 2018 couldn’t be exchanged for fiat currency on the cryptocurrency exchange - whether in TRON/Dollar or any other currency - it has become one of the most important cryptocurrencies in recent history.
Is the term "one of the most important cryptocurrencies" exaggerated? It turns out that not really. The numbers speak for themselves - the average TRX volume over 24 hours is nearly 130 million dollars, which places TRON among the top ten most-traded cryptocurrencies. Considering that the most popular currency pair has been so far TRX/USDT (USD Tether - an intermediary currency, whose market price is exactly 1 USD to 1 USDT) - accounting for as much as 42.16% of the volume, and with 13th of Sep 2018 was announced the first ever TRON/Dollar rate on the cryptocurrency exchange, interest in the digital currency will certainly increase. Within the first 24 hours of Tweet's publication by the founder of the Tron Foundation, the TRX price increased by 10.07%.
As with many digital currencies that attract the attention of the community, TRON is a long-term project that already showed great results in the first year. The TRX/USD rate is low and therefore affordable for novice investors, but its fluctuations allow more experienced users to generate profits through daytrading. This is a unique, trusting decision of Justin Sun with a low initial price, thanks to which the digital currency attracts a new holders community, presenting at the same time a real value for people whose investment abilities take precedence over patience. This is a key process for the first of six stages, entitled "Exodus", during which the works on the foundation of the platform are underway - a file distribution system based on technology similar to IPFS.
The second stage of development was described by the foundation as "Odyssey". Work on this part of the TRON project will begin on January 2019, the implementation plan was set for June 2020. The scope of Odyssey includes the creation of the first prototype system for developers based on blockchain technology with the Proof-of-Stake algorithm. This type of environment requires the implementation of a key element - a monetization module based on tipping, as opposed to currently widespread views and clicks. It is connected with the necessity of introducing into the infrastructure a one-way payment system platform enabling immediate processing of transactions in the TRX rate.
The third and fourth stages, respectively "Great Voyage" (07.2020 - 07.2021) and "Apollo" (08.2021 - 03.2023), will allow users to sell brand shares using "individual ICOs" (Great Voyage) or personal brand tokens (Apollo). To do this, there will be needed a platform for applications based on blockchain technology, as well as a language that meets the requirements of Turing completeness, by means of which intelligent contracts will be implemented. Considering the disadvantages of the existing solutions for blockchain-based applications, the completion of this stage is not only a challenge, but also a potential breakthrough in terms of new technologies and the perception of the cryptocurrencies market.
The fifth and sixth stages, named by the team "Star Trek" (04.2023 - 09.2025) and "Eternity" (10.2025 - 09.2027), will extend the TRON project with 3 essential functions: a market forecast system modeled on Augur (Star Trek), a gaming platform that is a nod to the beginnings of the cryptocurrency, when TRX was a coin directed to players (Star Trek), as well as a tool for monetization and fundraising (Eternity). The final effect of the TRON project will be a decentralized, multifunctional platform that restores freedom on the Internet, fair for founders and useful for all types of users - from private individuals to large and small enterprises.
For September 2018, the market capitalization of TRX is 1 346 546 679 USD.